Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1104%/8h= +120.9% APRpaid last 24h +0.019%

Price spread now: Backpack against MEXC+0.103%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$560.565% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.515%+$52 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.103%, 7d avg +0.028%

Together, before fees+0.464%+$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and Backpack is 0.074% dearer against MEXC than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.028%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.515% in total (about 26.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SKR_USDT	0.02141	0.0100	pay 0.0050% / 4h	3h 59m	$4.5M	$477K	20x
Short	Backpack SKR_USDC_PERP	0.02143	0.1204	get 0.0151% / 1h	59m 44s	$54K	$184K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.103%Rate

Funding earned: $231.86
Price spread: +0.103% → +0.028%: $7.43
Slippage, 4 orders: −$42.48
Fee MEXC: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: $182.81
Costs to cover: 0.565%
Break-even: 1.5 days

Slippage from MEXC: live order book, 3 min ago; Backpack: live order book, 58 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 MEXC live order book, 3 min ago	1.86 bp	8.2 bp −$8	53.6 bp −$536	270.1 bp −$27.0K	doesn't fit
Sell Backpack live order book, 58 min ago	1.69 bp	19.1 bp −$19	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	0.02145	+0.201%	$238K	$170K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02142	+0.056%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02137	−0.159%	$9K	$20K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02141	+0.033%	$1.4M	$817K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02141	+0.019%	$28K	$38K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02140	−0.056%	$3.6M	$13.6M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02141	+0.005%	$4.6M	$5.4M	20x	as long as short
MEXC SKR_USDTlong	+0.0100%	4h	0.02141	long leg	$4.5M	$477K	20x
KuCoin SKRUSDTM	+0.0100%	4h	0.02142	+0.075%	$656K	$736K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02141	+0.023%	$1.5M	$1.3M	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	0.02141	+0.023%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02151	+0.462%	$14K	$35K	20x	as long as short
Gate SKR_USDT	+0.0120%	4h	0.02144	+0.163%	$1.0M	$570K	20x	as long as short
Phoenix SKR	+0.1165%	1h	0.02148	+0.350%	$4K	$10K	3x	as long as short
Backpack SKR_USDC_PERPshort	+0.1204%	1h	0.02143	+0.103%	$54K	$184K	5x