Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: BingX against Hyperliquid−0.145%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1061.063% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 7 days+0.358%+$36 · spread now −0.145%, 7d avg +0.044%

Together, before fees+0.391%+ Points / potential airdropHyperliquid: Season 2 · farm board+$39 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: BingX is 0.189% cheaper against Hyperliquid than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02067	0.0100	pay 0.0013% / 1h	10m 58s	$1.3M	$805K	3x
Short	BingX SKR-USDT	0.02065	0.0100	get 0.0050% / 4h	1h 10m	—	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now −0.145%Rate

Funding earned: $0
Price spread: −0.145% → +0.044%: −$18.88
Slippage, 4 orders: −$87.34
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$125.22
Costs to cover: 1.063%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; BingX: live order book, 3 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 Hyperliquid live order book, 9 min ago	0.24 bp	4.7 bp −$5	5.6 bp −$56	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	6.55 bp	39.5 bp −$39	190.9 bp −$1,909	544.0 bp −$54.4K	923.5 bp −$461.7K

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	0.02064	−0.150%	$231K	$160K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02061	−0.324%	$9K	$21K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02067	long leg	$1.3M	$805K	3x
Aster SKRUSDT	+0.0100%	4h	0.02063	−0.235%	$28K	$34K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02064	−0.179%	$3.5M	$13.3M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02064	−0.150%	$4.4M	$5.3M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02066	−0.073%	$1.0M	$555K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02065	−0.102%	$4.3M	$473K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02065	−0.106%	$640K	$726K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02065	−0.106%	$1.5M	$1.3M	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-USDTshort	+0.0100%	4h	0.02065	−0.145%	—	$2.4M	—
SunX SKR-USDT	+0.0100%	4h	0.02062	−0.290%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02063	−0.227%	$13K	$36K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0221%	1h	0.02067	−0.015%	$49K	$192K	5x	as long as short
Phoenix SKR	+0.1918%	1h	0.02068	+0.039%	$4K	$10K	3x	as long as short