Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h −0.034%

Price spread now: HTX against Backpack+0.637%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.534%−$53 on $10k

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 +$4 a day on $10k at the current rate, and HTX is 0.637% dearer against Backpack than usual: you sell high and buy low: +$64 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.534%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02121	−0.0046	get 0.0006% / 1h	6m 25s	$53K	$206K	5x
Short	HTX SKR-USDT	0.02134	0.0100	get 0.0050% / 4h	2h 06m	$14K	$40K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Backpack. 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 BackpackbpFee HTXbpOrdersPrice spread, now +0.637%Rate

Funding earned: $30.61
Price spread: +0.637% → 0.000%: $63.66
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $72.27
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Backpack: live order book, 38 min ago; HTX: 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 Backpack live order book, 38 min ago	3.09 bp	31.0 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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	−0.0198%	4h	0.02129	+0.377%	$255K	$166K	20x	as long as short
Hyperliquid SKR	−0.0078%	1h	0.02124	+0.141%	$1.3M	$1.4M	3x	as long as short
Backpack SKR_USDC_PERPlong	−0.0046%	1h	0.02121	long leg	$53K	$206K	5x
Bybit SKRUSDT	+0.0057%	4h	0.02126	+0.240%	$4.8M	$9.9M	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02124	+0.137%	$8K	$30K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02122	+0.061%	$25K	$117K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02122	+0.085%	$3.9M	$25.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02126	+0.236%	$1.0M	$1.6M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02126	+0.240%	$5.1M	$819K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02122	+0.061%	$692K	$1.4M	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	0.02126	+0.236%	$1.6M	$3.4M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02123	+0.094%	—	$2.8M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02122	+0.085%	$2K	$3.1M	20x	as long as short
HTX SKR-USDTshort	+0.0100%	4h	0.02134	+0.637%	$14K	$40K	20x
Phoenix SKR	+0.0735%	1h	0.02136	+0.731%	$4K	$10K	3x	as long as short