Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0204%/8h= −22.4% APRpaid last 24h +0.011%

Price spread now: Backpack against Binance+0.005%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$970.969% of the position

Long on Binance Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.504%+$50 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.005%, 7d avg +0.022%

Together, before fees+0.473%+$47 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.504%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SKRUSDT	0.02106	0.0100	pay 0.0050% / 4h	1h 50m	$3.6M	$11.9M	20x
Short	Backpack SKR_USDC_PERP	0.02107	−0.0104	pay 0.0013% / 1h	50m 51s	$50K	$219K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$42.87
Price spread: +0.005% → +0.022%: −$1.77
Slippage, 4 orders: −$76.95
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$141.59
Costs to cover: 0.969%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Backpack: live order book, 32 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 Binance live order book, 4 min ago	2.13 bp	34.8 bp −$35	166.4 bp −$1,664	doesn't fit	doesn't fit
Sell Backpack live order book, 32 min ago	1.65 bp	12.4 bp −$12	doesn't fit	doesn't fit	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	0.02108	+0.057%	$236K	$152K	20x	as long as short
Backpack SKR_USDC_PERPshort	−0.0104%	1h	0.02107	+0.005%	$50K	$219K	5x
Lighter SKR	+0.0096%	1h	0.02102	−0.219%	$14K	$17K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02107	+0.047%	$1.3M	$734K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02106	−0.007%	$26K	$33K	5x	as long as short
Binance SKRUSDTlong	+0.0100%	4h	0.02106	long leg	$3.6M	$11.9M	20x
Bybit SKRUSDT	+0.0100%	4h	0.02107	+0.042%	$4.5M	$4.8M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02108	+0.076%	$1.0M	$528K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02107	+0.009%	$4.4M	$479K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02106	−0.010%	$681K	$684K	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	0.02110	+0.152%	$1.5M	$1.1M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02106	0.000%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02104	−0.114%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02113	+0.304%	$14K	$37K	20x	as long as short
Phoenix SKR	+0.0379%	1h	0.02123	+0.807%	$4K	$10K	3x	as long as short