Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Hyperliquid−0.013%7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$950.946% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 7 days+0.178%+$18 · spread now −0.013%, 7d avg +0.038%

Together, before fees+0.232%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 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: Binance is 0.051% cheaper against Hyperliquid than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02118	0.0100	pay 0.0013% / 1h	14m 31s	$1.3M	$733K	3x
Short	Binance SKRUSDT	0.02118	0.0100	get 0.0050% / 4h	2h 14m	$3.6M	$11.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → +0.038%: −$5.11
Slippage, 4 orders: −$75.56
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$99.66
Costs to cover: 0.946%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Binance: live order book, 11 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 Hyperliquid live order book, 6 min ago	0.71 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.94 bp	15.3 bp −$15	128.9 bp −$1,289	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	0.02118	−0.033%	$239K	$153K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02113	−0.250%	$14K	$17K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02118	long leg	$1.3M	$733K	3x
Aster SKRUSDT	+0.0100%	4h	0.02118	−0.013%	$26K	$33K	5x	as long as short
Binance SKRUSDTshort	+0.0100%	4h	0.02118	−0.013%	$3.6M	$11.8M	20x
Bybit SKRUSDT	+0.0100%	4h	0.02119	+0.028%	$4.5M	$4.8M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02116	−0.085%	$1.0M	$531K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02118	−0.028%	$4.4M	$491K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02116	−0.094%	$685K	$685K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02119	+0.028%	$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	0.02118	−0.028%	—	$2.4M	—	as long as short
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02116	−0.104%	$50K	$223K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02112	−0.288%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02119	+0.052%	$14K	$37K	20x	as long as short
Phoenix SKR	+0.1507%	1h	0.02119	+0.052%	$4K	$10K	3x	as long as short