Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.030%

Price spread now: Hyperliquid against BloFin+0.093%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$1011.014% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.162%+$16 on $10k

Price spread, last 4 days (all we have)+0.357%+$36 · spread now +0.093%, 7d avg −0.030%

Together, before fees+0.519%+ Points / potential airdropHyperliquid: Season 2 · farm board+$52 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Hyperliquid is 0.123% dearer against BloFin than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.030%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.162% in total (about 8.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SKR-USDT	0.02148	−0.0140	get 0.0070% / 4h	2m 42s	$236K	$170K	20x
Short	Hyperliquid SKR	0.02150	0.0100	get 0.0013% / 1h	2m 42s	$1.4M	$817K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.093%Rate

Funding earned: $50.4
Price spread: +0.093% → −0.030%: $12.28
Slippage, 4 orders: −$80.42
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$38.74
Costs to cover: 1.014%
Break-even: 12.4 days

Slippage from BloFin: live order book, 28 min ago; Hyperliquid: live order book, 8 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 BloFin live order book, 28 min ago	5.94 bp	27.9 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.93 bp	28.7 bp −$29	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-USDTlong	−0.0140%	4h	0.02148	long leg	$236K	$170K	20x
BingX SKR-USDT	+0.0070%	4h	0.02150	+0.088%	—	$2.3M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02144	−0.154%	$9K	$20K	3x	as long as short
Hyperliquid SKRshort	+0.0100%	1h	0.02150	+0.093%	$1.4M	$817K	3x
Aster SKRUSDT	+0.0100%	4h	0.02146	−0.076%	$28K	$38K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02148	+0.024%	$3.7M	$13.6M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02148	+0.028%	$4.6M	$5.4M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02147	−0.014%	$4.5M	$489K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02148	0.000%	$658K	$736K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02147	−0.023%	$1.5M	$1.3M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKR-USDT	+0.0100%	4h	0.02143	−0.214%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02147	−0.033%	$14K	$35K	20x	as long as short
Gate SKR_USDT	+0.0116%	4h	0.02149	+0.065%	$1.0M	$574K	20x	as long as short
Phoenix SKR	+0.1165%	1h	0.02154	+0.284%	$4K	$10K	3x	as long as short
Backpack SKR_USDC_PERP	+0.1228%	1h	0.02148	+0.014%	$54K	$184K	5x	as long as short