Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.010%

Price spread now: Backpack against HTX−0.314%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.504%+$50 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Backpack is 0.314% cheaper against HTX than usual: you would sell low and buy high (spread −0.314% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$31 on $10k: about 6.9 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX SKR-USDT	0.02102	0.0100	pay 0.0050% / 4h	33m 09s	$14K	$36K	20x
Short	Backpack SKR_USDC_PERP	0.02095	0.0252	get 0.0031% / 1h	33m 09s	$50K	$213K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HTXbpFee BackpackbpOrdersPrice spread, now −0.314%Rate

Funding earned: $31.85
Price spread: −0.314% → 0.000%: −$31.4
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$21.55
Costs to cover: 0.220%
Break-even: 11.7 days

Slippage unknown: HTX: no order-book sample; Backpack: live order book, 45 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 HTX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 45 min ago	1.90 bp	12.9 bp −$13	doesn't fit	doesn't fit	doesn't fit

HTX: 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	0.02095	−0.305%	$232K	$153K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02091	−0.495%	$14K	$16K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02097	−0.228%	$1.3M	$741K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02095	−0.308%	$26K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02095	−0.310%	$3.5M	$12.2M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02094	−0.362%	$4.5M	$4.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02094	−0.357%	$1.0M	$529K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02094	−0.352%	$4.3M	$463K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02094	−0.357%	$674K	$685K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02094	−0.352%	$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	0.02096	−0.281%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02090	−0.580%	$1K	$2.3M	20x	as long as short
HTX SKR-USDTlong	+0.0100%	4h	0.02102	long leg	$14K	$36K	20x
Backpack SKR_USDC_PERPshort	+0.0252%	1h	0.02095	−0.314%	$50K	$213K	5x
Phoenix SKR	+0.0755%	1h	0.02094	−0.366%	$4K	$10K	3x	as long as short