Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Gate−0.038%7-day average +0.048% · you buy dearer than you sell

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

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 4 days (all we have)+0.169%+$17 · spread now −0.038%, 7d avg +0.048%

Together, before fees+0.118%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.086% cheaper against Gate than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SKR_USDT	0.02103	0.0100	pay 0.0050% / 4h	3h 44m	$1.0M	$526K	20x
Short	Hyperliquid SKR	0.02102	0.0100	get 0.0013% / 1h	44m 27s	$1.3M	$725K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → +0.048%: −$8.62
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$32.62
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 min ago; Hyperliquid: live order book, 6 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 Gate live order book, 3 min ago	8.57 bp	76.4 bp −$76	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.24 bp	13.5 bp −$13	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	0.02103	0.000%	$238K	$155K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02107	+0.162%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02103	−0.024%	$9K	$22K	3x	as long as short
Hyperliquid SKRshort	+0.0100%	1h	0.02102	−0.038%	$1.3M	$725K	3x
Aster SKRUSDT	+0.0100%	4h	0.02103	−0.010%	$26K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02106	+0.152%	$3.6M	$12.4M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02106	+0.114%	$4.5M	$5.0M	20x	as long as short
Gate SKR_USDTlong	+0.0100%	4h	0.02103	long leg	$1.0M	$526K	20x
MEXC SKR_USDT	+0.0100%	4h	0.02103	0.000%	$4.3M	$463K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02100	−0.147%	$680K	$685K	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	0.02102	−0.067%	$1.5M	$1.2M	20x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02103	0.000%	$1K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02104	+0.038%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0526%	1h	0.02107	+0.190%	$52K	$200K	5x	as long as short
Phoenix SKR	+0.1502%	1h	0.02107	+0.181%	$4K	$10K	3x	as long as short