Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bitget−0.089%7-day average +0.001% · you buy dearer than you sell

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

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 7 days−0.005%$0 · spread now −0.089%, 7d avg +0.001%

Together, before fees−0.036%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hyperliquid is 0.090% cheaper against Bitget than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKRUSDT	0.02131	0.0100	pay 0.0050% / 4h	2h 00m	$1.6M	$3.4M	20x
Short	Hyperliquid SKR	0.02129	−0.0052	pay 0.0006% / 1h	0m 35s	$1.3M	$1.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$31.9
Price spread: −0.089% → +0.001%: −$8.97
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$61.86
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 min ago; Hyperliquid: live order book, 10 min ago. 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 Bitget live order book, 2 min ago	9.20 bp	50.8 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	3.29 bp	doesn't fit	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	0.02124	−0.296%	$252K	$166K	20x	as long as short
Backpack SKR_USDC_PERP	−0.0098%	1h	0.02122	−0.399%	$53K	$206K	5x	as long as short
Hyperliquid SKRshort	−0.0052%	1h	0.02129	−0.089%	$1.3M	$1.4M	3x
Lighter SKR	+0.0096%	1h	0.02125	−0.277%	$8K	$30K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02128	−0.109%	$26K	$117K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02128	−0.109%	$3.9M	$26.1M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02132	+0.047%	$4.8M	$10.0M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02125	−0.268%	$1.0M	$1.6M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02129	−0.080%	$5.1M	$821K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02122	−0.408%	$696K	$1.4M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKRUSDTlong	+0.0100%	4h	0.02131	long leg	$1.6M	$3.4M	20x
BingX SKR-USDT	+0.0100%	4h	0.02128	−0.145%	—	$2.8M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02122	−0.432%	$1K	$3.1M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02119	−0.568%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0735%	1h	0.02124	−0.305%	$4K	$10K	3x	as long as short