Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0895%/8h= +98.0% APRpaid last 24h +0.217%

Price spread now: Phoenix against BloFin+0.024%7-day average — · you sell dearer than you buy

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

Long on BloFin 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 +$27 a day on $10k at the current rate, and Phoenix is 0.024% dearer against BloFin than usual: you sell high and buy low: +$2 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	BloFin SKR-USDT	0.02106	−0.0140	get 0.0070% / 4h	40m 28s	$234K	$154K	20x
Short	Phoenix SKR	0.02106	0.0755	get 0.0094% / 1h	40m 28s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now +0.024%Rate

Funding earned: $187.9
Price spread: +0.024% → 0.000%: $2.37
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $171.27
Costs to cover: 0.190%
Break-even: 0.6 days

Slippage unknown: BloFin: live order book, 30 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 BloFin live order book, 30 min ago	0.95 bp	30.8 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-USDTlong	−0.0140%	4h	0.02106	long leg	$234K	$154K	20x
Lighter SKR	+0.0096%	1h	0.02103	−0.128%	$14K	$16K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02109	+0.161%	$1.3M	$742K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02106	+0.011%	$26K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02109	+0.150%	$3.5M	$12.1M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02109	+0.147%	$4.5M	$4.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02107	+0.047%	$1.0M	$529K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02108	+0.109%	$4.4M	$463K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02105	−0.047%	$676K	$685K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02110	+0.199%	$1.5M	$1.1M	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	0.02109	+0.161%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02102	−0.152%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02119	+0.641%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0316%	1h	0.02107	+0.062%	$50K	$213K	5x	as long as short
Phoenix SKRshort	+0.0755%	1h	0.02106	+0.024%	$4K	$10K	3x