Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bitget−0.086%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1071.071% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days−0.148%−$15 · spread now −0.086%, 7d avg −0.009%

Together, before fees−0.202%+ Points / potential airdropHyperliquid: Season 2 · farm board−$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.078% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKRUSDT	0.02084	0.0100	pay 0.0050% / 4h	1h 32m	$1.5M	$1.1M	20x
Short	Hyperliquid SKR	0.02083	0.0100	get 0.0013% / 1h	32m 16s	$1.3M	$737K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee HyperliquidbpOrdersPrice spread, now −0.086%Rate

Funding earned: $0
Price spread: −0.086% → −0.009%: −$7.76
Slippage, 4 orders: −$86.11
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$114.86
Costs to cover: 1.071%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Hyperliquid: live order book, 8 min ago.

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 Bitget live order book, 4 min ago	7.19 bp	28.6 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.71 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit

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	+0.110%	$235K	$151K	20x	as long as short
Backpack SKR_USDC_PERP	−0.0052%	1h	0.02083	−0.082%	$49K	$212K	5x	as long as short
Lighter SKR	+0.0096%	1h	0.02078	−0.293%	$14K	$17K	3x	as long as short
Hyperliquid SKRshort	+0.0100%	1h	0.02083	−0.086%	$1.3M	$737K	3x
Aster SKRUSDT	+0.0100%	4h	0.02085	+0.005%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02083	−0.088%	$3.5M	$12.0M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02082	−0.106%	$4.4M	$4.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02084	−0.019%	$1.0M	$529K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02083	−0.072%	$4.3M	$480K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02084	−0.038%	$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 SKRUSDTlong	+0.0100%	4h	0.02084	long leg	$1.5M	$1.1M	20x
BingX SKR-USDT	+0.0100%	4h	0.02083	−0.077%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02079	−0.283%	$1K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02091	+0.312%	$14K	$37K	20x	as long as short
Phoenix SKR	+0.0379%	1h	0.02093	+0.417%	$4K	$10K	3x	as long as short