Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

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

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

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$860.861% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days+0.200%+$20 · spread now −0.038%, 7d avg +0.038%

Together, before fees+0.212%+ Points / potential airdropHyperliquid: Season 2 · farm board+$21 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: BingX is 0.076% cheaper against Hyperliquid than usual: you would sell low and buy high, −$8 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	0.02107	0.0100	pay 0.0013% / 1h	14m 28s	$1.3M	$1.4M	3x
Short	BingX SKR-USDT	0.02106	0.0100	get 0.0050% / 4h	14m 28s	—	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → +0.038%: −$7.57
Slippage, 4 orders: −$67.13
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$93.7
Costs to cover: 0.861%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; BingX: live order book, 10 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	0.24 bp	21.6 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	5.49 bp	34.7 bp −$35	99.2 bp −$992	402.7 bp −$40.3K	892.2 bp −$446.1K

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	0.02107	+0.033%	$239K	$166K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02103	−0.171%	$8K	$26K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02107	long leg	$1.3M	$1.4M	3x
Aster SKRUSDT	+0.0100%	4h	0.02103	−0.189%	$26K	$118K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02105	−0.067%	$3.7M	$27.6M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02105	−0.095%	$4.7M	$10.6M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02106	−0.062%	$995K	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02106	−0.057%	$5.0M	$835K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02102	−0.214%	$766K	$1.5M	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02106	−0.043%	$1.6M	$3.5M	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-USDTshort	+0.0100%	4h	0.02106	−0.038%	—	$2.8M	—
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02103	−0.190%	$52K	$211K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02102	−0.218%	$2K	$3.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02112	+0.242%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.1148%	1h	0.02116	+0.427%	$4K	$10K	3x	as long as short