Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0070%/8h= +7.6% APRpaid last 24h +0.019%

Price spread now: Backpack against HTX−0.282%52s7-day average — · you buy dearer than you sell

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

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.514%+$51 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Backpack is 0.282% cheaper against HTX than usual: you would sell low and buy high (spread −0.282% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 14 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.514% in total) that is about 3.8 days. The two prices were read 52 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	HTX SKR-USDT	0.02090	0.0100	pay 0.0050% / 4h	2h 04m	$14K	$37K	20x
Short	Backpack SKR_USDC_PERP	0.02084	0.0170	get 0.0021% / 1h	4m 14s	$50K	$202K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now −0.282%Rate

Funding earned: $14.63
Price spread: −0.282% → 0.000%: −$28.24
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$35.61
Costs to cover: 0.220%
Break-even: 24.0 days

Slippage unknown: HTX: no order-book sample; Backpack: live order book, 64 min ago. 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 HTX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 64 min ago	3.01 bp	13.5 bp −$14	doesn't fit	doesn't fit	doesn't fit

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 14 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
Lighter SKR	+0.0096%	1h	0.02083	−0.325%	$9K	$21K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02088	−0.077%	$1.3M	$785K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02087	−0.138%	$28K	$34K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02089	−0.020%	$3.6M	$13.1M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02089	−0.038%	$4.5M	$5.2M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02088	−0.096%	$1.0M	$549K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02089	−0.043%	$4.3M	$472K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02086	−0.158%	$659K	$721K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02085	−0.191%	$1.5M	$1.2M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02090	0.000%	—	$2.4M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKR-USDT	+0.0100%	4h	0.02085	−0.211%	$2K	$2.3M	20x	as long as short
HTX SKR-USDTlong	+0.0100%	4h	0.02090	long leg	$14K	$37K	20x
Backpack SKR_USDC_PERPshort	+0.0170%	1h	0.02084	−0.282%	$50K	$202K	5x
Phoenix SKR	+0.0743%	1h	0.02091	+0.086%	$4K	$10K	3x	as long as short