Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1048%/8h= +114.7% APRpaid last 24h +0.211%

Price spread now: Phoenix against Aster−0.694%85s7-day average — · you buy dearer than you sell

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

Long on Aster 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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.694% cheaper against Aster than usual: you would sell low and buy high (spread −0.694% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$69 on $10k: about 2.2 days of funding at the current rate (+$31 a day). The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SKRUSDT	0.02112	0.0100	pay 0.0050% / 4h	17m 58s	$26K	$118K	5x
Short	Phoenix SKR	0.02097	0.1148	get 0.0143% / 1h	17m 58s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now −0.694%Rate

Funding earned: $220
Price spread: −0.694% → 0.000%: −$69.38
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $135.62
Costs to cover: 0.150%
Break-even: 2.7 days

Slippage unknown: Aster: live order book, 15 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 Aster live order book, 15 min ago	5.95 bp	37.0 bp −$37	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	0.02113	+0.031%	$243K	$165K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02112	−0.007%	$8K	$26K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02112	+0.021%	$1.3M	$1.4M	3x	as long as short
Aster SKRUSDTlong	+0.0100%	4h	0.02112	long leg	$26K	$118K	5x
Binance SKRUSDT	+0.0100%	4h	0.02109	−0.111%	$3.7M	$27.6M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02111	−0.036%	$4.7M	$10.6M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02113	+0.050%	$998K	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02110	−0.102%	$5.0M	$834K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02110	−0.064%	$773K	$1.5M	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02112	+0.017%	$1.6M	$3.5M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SKR-USDT	+0.0100%	4h	0.02111	−0.040%	—	$2.8M	—	as long as short
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02112	+0.017%	$53K	$211K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02109	−0.149%	$2K	$3.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02107	−0.253%	$14K	$40K	20x	as long as short
Phoenix SKRshort	+0.1148%	1h	0.02097	−0.694%	$4K	$10K	3x