Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1402%/8h= +153.5% APRpaid last 24h +0.191%

Price spread now: Phoenix against HTX+0.926%7-day average — · you sell dearer than you buy

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

Long on HTX 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 +$42 a day on $10k at the current rate, and Phoenix is 0.926% dearer against HTX than usual: you sell high and buy low: +$93 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	HTX SKR-USDT	0.02117	0.0100	pay 0.0050% / 4h	3h 25m	$14K	$36K	20x
Short	Phoenix SKR	0.02137	0.1502	get 0.0188% / 1h	25m 23s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now +0.926%Rate

Funding earned: $294.43
Price spread: +0.926% → 0.000%: $92.58
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $368.01
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: HTX: no order-book sample; 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 HTX no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

HTX and 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	0.02152	+1.644%	$240K	$159K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02152	+1.644%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02144	+1.285%	$9K	$22K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02151	+1.592%	$1.4M	$720K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02145	+1.311%	$27K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02151	+1.595%	$3.7M	$12.5M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02150	+1.559%	$4.6M	$5.0M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02147	+1.389%	$1.0M	$530K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02150	+1.540%	$4.4M	$464K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02147	+1.398%	$695K	$689K	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	0.02150	+1.559%	$1.5M	$1.2M	20x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02145	+1.313%	$2K	$2.3M	20x	as long as short
HTX SKR-USDTlong	+0.0100%	4h	0.02117	long leg	$14K	$36K	20x
Backpack SKR_USDC_PERP	+0.0559%	1h	0.02140	+1.063%	$54K	$196K	5x	as long as short
Phoenix SKRshort	+0.1502%	1h	0.02137	+0.926%	$4K	$10K	3x