Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Hyperliquid−0.052%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$570.567% of the position

Long on Hyperliquid Short on MEXC

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+0.204%+$20 · spread now −0.052%, 7d avg +0.024%

Together, before fees+0.258%+ Points / potential airdropHyperliquid: Season 2 · farm board+$26 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: MEXC 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 +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02101	0.0100	pay 0.0013% / 1h	43m 11s	$1.3M	$734K	3x
Short	MEXC SKR_USDT	0.02099	0.0100	get 0.0050% / 4h	1h 43m	$4.3M	$480K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → +0.024%: −$7.63
Slippage, 4 orders: −$43.66
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$64.29
Costs to cover: 0.567%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; MEXC: 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, 7 min ago	0.24 bp	22.7 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.19 bp	7.6 bp −$8	52.8 bp −$528	315.3 bp −$31.5K	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
Backpack SKR_USDC_PERP	−0.0401%	1h	0.02098	−0.119%	$50K	$216K	5x	as long as short
BloFin SKR-USDT	−0.0140%	4h	0.02098	−0.129%	$237K	$152K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02096	−0.233%	$14K	$17K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02101	long leg	$1.3M	$734K	3x
Aster SKRUSDT	+0.0100%	4h	0.02100	−0.023%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02099	−0.054%	$3.6M	$11.9M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02100	−0.043%	$4.5M	$4.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02099	−0.100%	$1.0M	$528K	20x	as long as short
MEXC SKR_USDTshort	+0.0100%	4h	0.02099	−0.052%	$4.3M	$480K	20x
KuCoin SKRUSDTM	+0.0100%	4h	0.02100	−0.033%	$679K	$684K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKRUSDT	+0.0100%	4h	0.02102	+0.052%	$1.5M	$1.1M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02100	−0.048%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02098	−0.148%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02097	−0.162%	$14K	$37K	20x	as long as short
Phoenix SKR	+0.0379%	1h	0.02098	−0.109%	$4K	$10K	3x	as long as short