Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.024%

Price spread now: Hyperliquid against KuCoin+0.084%7-day average −0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$538as in the Funding arb table

Net, price: spread back to 7d avg − costs−$505as in the Price arb table

costs, in and out, $10k−$5195.191% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$18 on $10k

Price spread, last 4 days (all we have)−0.103%−$10 · spread now +0.084%, 7d avg −0.061%

Together, before fees−0.287%+ Points / potential airdropHyperliquid: Season 2 · farm board−$29 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: Hyperliquid is 0.145% dearer against KuCoin than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKRUSDTM	0.02149	0.0100	pay 0.0050% / 4h	3h 11m	$694K	$690K	20x
Short	Hyperliquid SKR	0.02151	0.0100	get 0.0013% / 1h	11m 58s	$1.4M	$717K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.084%Rate

Funding earned: $0
Price spread: +0.084% → −0.061%: $14.46
Slippage, 4 orders: −$498.08
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$504.62
Costs to cover: 5.191%
Break-even: never at this rate

Slippage from KuCoin: live order book, 42 min ago; Hyperliquid: live order book, 9 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 KuCoin live order book, 42 min ago	7.57 bp	170.7 bp −$171	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	2.11 bp	19.7 bp −$20	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	0.02146	−0.144%	$240K	$159K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02151	+0.074%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02146	−0.140%	$9K	$22K	3x	as long as short
Hyperliquid SKRshort	+0.0100%	1h	0.02151	+0.084%	$1.4M	$717K	3x
Aster SKRUSDT	+0.0100%	4h	0.02149	−0.027%	$27K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02151	+0.092%	$3.7M	$12.5M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02151	+0.079%	$4.6M	$5.0M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02151	+0.079%	$4.4M	$466K	20x	as long as short
KuCoin SKRUSDTMlong	+0.0100%	4h	0.02149	long leg	$694K	$690K	20x
Bitget SKRUSDT	+0.0100%	4h	0.02150	+0.051%	$1.5M	$1.2M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKR-USDT	+0.0100%	4h	0.02148	−0.084%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02145	−0.200%	$14K	$36K	20x	as long as short
Gate SKR_USDT	+0.0104%	4h	0.02151	+0.098%	$1.0M	$532K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0643%	1h	0.02150	+0.023%	$54K	$196K	5x	as long as short
Phoenix SKR	+0.1502%	1h	0.02151	+0.070%	$4K	$10K	3x	as long as short