Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0040%/8h= +4.3% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Binance−0.005%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$870.873% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days−0.159%−$16 · spread now −0.005%, 7d avg −0.038%

Together, before fees−0.214%+ Points / potential airdropHyperliquid: Season 2 · farm board−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.033% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.038%. Mind the row above: over the last 7 days funding on this pair cost −0.054%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SKRUSDT	0.02116	0.0100	pay 0.0050% / 4h	1h 55m	$3.6M	$11.9M	20x
Short	Hyperliquid SKR	0.02116	0.0140	get 0.0017% / 1h	55m 07s	$1.3M	$737K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.005%Rate

Funding earned: $8.31
Price spread: −0.005% → −0.038%: $3.29
Slippage, 4 orders: −$68.32
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$75.73
Costs to cover: 0.873%
Break-even: 70.8 days

Slippage from Binance: live order book, 15 min ago; Hyperliquid: live order book, 5 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, 15 min ago	0.24 bp	21.0 bp −$21	161.9 bp −$1,619	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.71 bp	18.0 bp −$18	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	0.02118	+0.071%	$237K	$153K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02111	−0.256%	$14K	$17K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02117	+0.027%	$26K	$33K	5x	as long as short
Binance SKRUSDTlong	+0.0100%	4h	0.02116	long leg	$3.6M	$11.9M	20x
Bybit SKRUSDT	+0.0100%	4h	0.02116	+0.004%	$4.5M	$4.8M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02118	+0.099%	$1.0M	$528K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02119	+0.132%	$4.4M	$479K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02118	+0.108%	$685K	$686K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02120	+0.179%	$1.5M	$1.1M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02115	−0.057%	—	$2.4M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02117	+0.023%	$50K	$219K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02113	−0.166%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02107	−0.454%	$14K	$37K	20x	as long as short
Hyperliquid SKRshort	+0.0140%	1h	0.02116	−0.005%	$1.3M	$737K	3x
Phoenix SKR	+0.1507%	1h	0.02108	−0.397%	$4K	$10K	3x	as long as short