Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Hyperliquid+0.115%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$166as in the Price arb table

costs, in and out, $10k−$1761.764% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 7 days+0.137%+$14 · spread now +0.115%, 7d avg +0.006%

Together, before fees+0.178%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 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: Bitget is 0.109% dearer against Hyperliquid than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02084	0.0100	pay 0.0013% / 1h	55m 02s	$1.3M	$810K	3x
Short	Bitget SKRUSDT	0.02087	0.0100	get 0.0050% / 4h	55m 02s	$1.5M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hyperliquid. 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 HyperliquidbpFee BitgetbpOrdersPrice spread, now +0.115%Rate

Funding earned: $0
Price spread: +0.115% → +0.006%: $10.93
Slippage, 4 orders: −$155.45
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$165.52
Costs to cover: 1.764%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Bitget: live order book, 2 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, 5 min ago	0.24 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	3.83 bp	64.6 bp −$65	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	0.02089	+0.240%	$231K	$162K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02082	−0.120%	$9K	$20K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02084	long leg	$1.3M	$810K	3x
Aster SKRUSDT	+0.0100%	4h	0.02083	−0.086%	$28K	$34K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02084	+0.005%	$3.5M	$13.3M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02087	+0.125%	$4.4M	$5.3M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02087	+0.130%	$1.0M	$552K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02087	+0.106%	$4.3M	$471K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02086	+0.096%	$645K	$724K	20x	as long as short
Bitget SKRUSDTshort	+0.0100%	4h	0.02087	+0.115%	$1.5M	$1.3M	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SKR-USDT	+0.0100%	4h	0.02085	+0.014%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02085	+0.048%	$1K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02089	+0.240%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0995%	1h	0.02085	+0.014%	$50K	$182K	5x	as long as short
Phoenix SKR	+0.1918%	1h	0.02071	−0.633%	$4K	$10K	3x	as long as short