Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1065%/8h= +116.6% APRpaid last 24h +0.206%

Price spread now: Phoenix against SunX+0.261%7-day average — · you sell dearer than you buy

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

Long on SunX 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

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Phoenix is 0.261% dearer against SunX than usual: you sell high and buy low: +$26 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SKR-USDT	0.02143	0.0100	pay 0.0050% / 4h	0m 26s	$2K	$2.3M	20x
Short	Phoenix SKR	0.02148	0.1165	get 0.0146% / 1h	0m 26s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SunX. 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 SunXbpFee PhoenixbpOrdersPrice spread, now +0.261%Rate

Funding earned: $223.6
Price spread: +0.261% → 0.000%: $26.14
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $234.74
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: SunX: live order book, 6 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 SunX live order book, 6 min ago	28.41 bp	45.0 bp −$45	doesn't fit	doesn't fit	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	0.02145	+0.112%	$238K	$170K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02143	+0.028%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02141	−0.084%	$9K	$20K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02144	+0.075%	$1.4M	$817K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02144	+0.067%	$28K	$38K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02143	+0.011%	$3.7M	$13.6M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02145	+0.131%	$4.6M	$5.4M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02143	+0.005%	$4.5M	$489K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02143	+0.014%	$656K	$737K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02144	+0.047%	$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-USDTlong	+0.0100%	4h	0.02143	long leg	$2K	$2.3M	20x
HTX SKR-USDT	+0.0100%	4h	0.02151	+0.373%	$14K	$35K	20x	as long as short
Gate SKR_USDT	+0.0126%	4h	0.02144	+0.065%	$1.0M	$574K	20x	as long as short
Phoenix SKRshort	+0.1165%	1h	0.02148	+0.261%	$4K	$10K	3x
Backpack SKR_USDC_PERP	+0.1216%	1h	0.02143	+0.009%	$54K	$184K	5x	as long as short