Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0279%/8h= +30.6% APRpaid last 24h +0.208%

Price spread now: Phoenix against MEXC−0.220%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.220% cheaper against MEXC than usual: you would sell low and buy high (spread −0.220% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 2.6 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SKR_USDT	0.02086	0.0100	pay 0.0050% / 4h	1h 28m	$4.3M	$481K	20x
Short	Phoenix SKR	0.02082	0.0379	get 0.0047% / 1h	28m 54s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.220%Rate

Funding earned: $58.69
Price spread: −0.220% → 0.000%: −$22.05
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $25.64
Costs to cover: 0.110%
Break-even: 3.9 days

Slippage unknown: MEXC: live order book, 3 min ago; Phoenix: no order-book sample. Net counts fees only.

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	1.44 bp	8.0 bp −$8	51.8 bp −$518	354.4 bp −$35.4K	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.02087	+0.048%	$234K	$152K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0054%	1h	0.02086	−0.019%	$50K	$211K	5x	as long as short
Lighter SKR	+0.0096%	1h	0.02081	−0.273%	$14K	$17K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02086	−0.010%	$1.3M	$737K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02082	−0.209%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02086	−0.005%	$3.5M	$12.0M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02086	−0.005%	$4.5M	$4.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02082	−0.177%	$1.0M	$529K	20x	as long as short
MEXC SKR_USDTlong	+0.0100%	4h	0.02086	long leg	$4.3M	$481K	20x
KuCoin SKRUSDTM	+0.0100%	4h	0.02084	−0.101%	$671K	$685K	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	0.02082	−0.220%	$1.5M	$1.1M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02086	+0.010%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02081	−0.235%	$1K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02078	−0.398%	$14K	$37K	20x	as long as short
Phoenix SKRshort	+0.0379%	1h	0.02082	−0.220%	$4K	$10K	3x