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: Gate against Hyperliquid+0.033%7-day average −0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$248as in the Funding arb table

Net, price: spread back to 7d avg − costs−$245as in the Price arb table

costs, in and out, $10k−$2532.532% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.224%−$22 · spread now +0.033%, 7d avg −0.047%

Together, before fees−0.170%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 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: Gate is 0.080% dearer against Hyperliquid than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02117	0.0100	pay 0.0013% / 1h	17m 30s	$1.3M	$733K	3x
Short	Gate SKR_USDT	0.02118	0.0100	get 0.0050% / 4h	2h 17m	$1.0M	$531K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → −0.047%: $8
Slippage, 4 orders: −$229.23
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$245.23
Costs to cover: 2.532%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Gate: live order book, 4 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, 3 min ago	0.71 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	8.47 bp	114.2 bp −$114	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	0.02120	+0.128%	$239K	$153K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02112	−0.231%	$14K	$17K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02117	long leg	$1.3M	$733K	3x
Aster SKRUSDT	+0.0100%	4h	0.02117	+0.021%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02115	−0.071%	$3.6M	$11.8M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02116	−0.024%	$4.5M	$4.8M	20x	as long as short
Gate SKR_USDTshort	+0.0100%	4h	0.02118	+0.033%	$1.0M	$531K	20x
MEXC SKR_USDT	+0.0100%	4h	0.02116	−0.024%	$4.4M	$491K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02118	+0.033%	$685K	$685K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02118	+0.066%	$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	0.02116	−0.061%	—	$2.4M	—	as long as short
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02116	−0.033%	$50K	$225K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02114	−0.146%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02119	+0.118%	$14K	$37K	20x	as long as short
Phoenix SKR	+0.1507%	1h	0.02119	+0.118%	$4K	$10K	3x	as long as short