Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.1407%/8h= +154.0% APRpaid last 24h +0.216%

Price spread now: Phoenix against Gate+0.212%107s7-day average — · you sell dearer than you buy

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

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$42 a day on $10k at the current rate, and Phoenix is 0.212% dearer against Gate than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 107 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SKR_USDT	0.02121	0.0100	pay 0.0050% / 4h	2h 43m	$1.0M	$530K	20x
Short	Phoenix SKR	0.02126	0.1507	get 0.0188% / 1h	43m 31s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.212%Rate

Funding earned: $295.4
Price spread: +0.212% → 0.000%: $21.22
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $294.61
Costs to cover: 0.220%
Break-even: 0.0 days

Slippage unknown: Gate: live order book, 3 min ago; Phoenix: no order-book sample. 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	6.59 bp	89.0 bp −$89	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.02119	−0.090%	$238K	$151K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02116	−0.236%	$14K	$17K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02124	+0.113%	$1.3M	$728K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02120	−0.033%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02122	+0.060%	$3.6M	$11.7M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02122	+0.028%	$4.6M	$4.8M	20x	as long as short
Gate SKR_USDTlong	+0.0100%	4h	0.02121	long leg	$1.0M	$530K	20x
MEXC SKR_USDT	+0.0100%	4h	0.02122	+0.019%	$4.4M	$489K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02123	+0.099%	$688K	$686K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02126	+0.245%	$1.5M	$1.1M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SKR-USDT	+0.0100%	4h	0.02123	+0.099%	—	$2.3M	—	as long as short
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02120	−0.071%	$50K	$231K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02114	−0.325%	$1K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02118	−0.141%	$14K	$37K	20x	as long as short
Phoenix SKRshort	+0.1507%	1h	0.02126	+0.212%	$4K	$10K	3x