Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0459%/8h= −50.3% APRpaid last 24h −0.014%

Price spread now: MEXC against Backpack+0.114%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$450.452% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.507%−$51 on $10k

Price spread, last 4 days (all we have)−0.149%−$15 · spread now +0.114%, 7d avg −0.025%

Together, before fees−0.656%−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.139% dearer against Backpack than usual: you sell high and buy low (spread +0.114% now, against its 7-day average of −0.025%): +$14 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02114	0.0559	pay 0.0070% / 1h	40m 42s	$52K	$198K	5x
Short	MEXC SKR_USDT	0.02117	0.0100	get 0.0050% / 4h	3h 40m	$4.4M	$463K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee MEXCbpOrdersPrice spread, now +0.114%Rate

Funding earned: −$96.4
Price spread: +0.114% → −0.025%: $13.87
Slippage, 4 orders: −$31.2
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$127.74
Costs to cover: 0.452%
Break-even: never at this rate

Slippage from Backpack: live order book, 32 min ago; MEXC: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 32 min ago	2.13 bp	13.3 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	2.36 bp	8.9 bp −$9	51.1 bp −$511	235.1 bp −$23.5K	doesn't fit

SKR on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SKR-USDT	−0.0140%	4h	0.02117	+0.123%	$238K	$156K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02122	+0.364%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02116	+0.095%	$9K	$22K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02120	+0.270%	$1.3M	$727K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02116	+0.078%	$26K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02118	+0.162%	$3.6M	$12.4M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02120	+0.255%	$4.5M	$5.0M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02117	+0.132%	$1.0M	$528K	20x	as long as short
MEXC SKR_USDTshort	+0.0100%	4h	0.02117	+0.114%	$4.4M	$463K	20x
KuCoin SKRUSDTM	+0.0100%	4h	0.02117	+0.109%	$685K	$686K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKRUSDT	+0.0100%	4h	0.02117	+0.147%	$1.5M	$1.2M	20x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02111	−0.142%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02107	−0.359%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERPlong	+0.0559%	1h	0.02114	long leg	$52K	$198K	5x
Phoenix SKR	+0.1502%	1h	0.02119	+0.232%	$4K	$10K	3x	as long as short