SKR

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1048%/8h= +114.7% APRnext payment +$1.31 per $10,000 · paid last 24h +0.181%

Price spread now: Phoenix against Backpack+0.057%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 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 +$31 a day on $10k at the current rate, and Phoenix is 0.057% dearer against Backpack than usual: you sell high and buy low: +$6 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	Backpack SKR_USDC_PERP	0.02096	0.0100	pay 0.0013% / 1h	21m 12s	$52K	$211K	5x
Short	Phoenix SKR	0.02097	0.1148	get 0.0143% / 1h	21m 12s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.057%Rate

Funding earned: $220
Price spread: +0.057% → 0.000%: $5.73
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $208.72
Costs to cover: 0.170%
Break-even: 0.4 days

Slippage unknown: Backpack: live order book, 13 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 Backpack live order book, 13 min ago	0.24 bp	31.4 bp −$31	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	0.02097	+0.033%	$241K	$164K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02096	+0.005%	$8K	$26K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02097	+0.024%	$1.3M	$1.4M	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02095	−0.061%	$26K	$118K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02097	+0.049%	$3.7M	$27.5M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02097	+0.043%	$4.7M	$10.6M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02096	−0.014%	$991K	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02096	+0.014%	$5.0M	$834K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02093	−0.138%	$762K	$1.5M	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02098	+0.086%	$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	0.02096	+0.014%	—	$2.8M	—	as long as short
Backpack SKR_USDC_PERPlong	+0.0100%	1h	0.02096	long leg	$52K	$211K	5x
SunX SKR-USDT	+0.0100%	4h	0.02095	−0.048%	$2K	$3.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02093	−0.124%	$14K	$40K	20x	as long as short
Phoenix SKRshort	+0.1148%	1h	0.02097	+0.057%	$4K	$10K	3x