SKR

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0278%/8h= +30.5% APRnext payment +$0.35 per $10,000 · paid last 24h +0.213%

Price spread now: Phoenix against Backpack−0.684%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.684% cheaper against Backpack than usual: you would sell low and buy high (spread −0.684% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$68 on $10k: about 8.2 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02134	0.0100	pay 0.0013% / 1h	55m 02s	$51K	$232K	5x
Short	Phoenix SKR	0.02119	0.0378	get 0.0047% / 1h	55m 02s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.684%Rate

Funding earned: $58.42
Price spread: −0.684% → 0.000%: −$68.42
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$27
Costs to cover: 0.170%
Break-even: 10.2 days

Slippage unknown: Backpack: live order book, 33 min ago; Phoenix: no order-book sample. Net counts fees only.

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, 33 min ago	2.87 bp	25.8 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.02135	+0.070%	$241K	$149K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02128	−0.253%	$14K	$17K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02133	−0.019%	$1.4M	$730K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02132	−0.078%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02132	−0.101%	$3.6M	$11.6M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02130	−0.183%	$4.6M	$4.8M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02135	+0.061%	$1.0M	$529K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02135	+0.075%	$4.4M	$488K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02134	+0.005%	$693K	$688K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02131	−0.122%	$1.6M	$1.1M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SKR-USDT	+0.0100%	4h	0.02133	−0.042%	—	$2.4M	—	as long as short
Backpack SKR_USDC_PERPlong	+0.0100%	1h	0.02134	long leg	$51K	$232K	5x
SunX SKR-USDT	+0.0100%	4h	0.02133	−0.061%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02122	−0.572%	$14K	$37K	20x	as long as short
Phoenix SKRshort	+0.0378%	1h	0.02119	−0.684%	$4K	$10K	3x