Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0332%/8h= −36.4% APRpaid last 24h 0.000%

Price spread now: HTX against Hyperliquid−0.860%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and HTX is 0.860% cheaper against Hyperliquid than usual: you would sell low and buy high (−$86 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.031% in total (about 1.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02605	0.0432	pay 0.0054% / 1h	50m 09s	$1.7M	$1.0M	3x
Short	HTX SKR-USDT	0.02582	0.0100	get 0.0050% / 4h	2h 50m	$16K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.860%Rate

Funding earned: −$69.79
Price spread: −0.860% → 0.000%: −$86
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$176.79
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; HTX: 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 Hyperliquid live order book, 10 min ago	0.23 bp	4.7 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

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 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	0.02585	−0.745%	$275K	$197K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02600	−0.173%	$11K	$19K	3x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02602	−0.089%	$5.4M	$18.6M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02601	−0.138%	$5.7M	$6.8M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02609	+0.154%	$5.6M	$568K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02606	+0.035%	$900K	$1.0M	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02604	−0.031%	$2.0M	$2.1M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02594	−0.395%	—	$2.6M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02596	−0.338%	$2K	$2.6M	20x	as long as short
HTX SKR-USDTshort	+0.0100%	4h	0.02582	−0.860%	$16K	$36K	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKR_USDT	+0.0232%	4h	0.02600	−0.169%	$1.3M	$1.0M	20x	as long as short
Aster SKRUSDT	+0.0291%	4h	0.02607	+0.065%	$36K	$86K	5x	as long as short
Hyperliquid SKRlong	+0.0432%	1h	0.02605	long leg	$1.7M	$1.0M	3x
Phoenix SKR	+0.0735%	1h	0.02341	−10.135%	$4K	$10K	3x	as long as short
Backpack SKR_USDC_PERP	+0.1850%	1h	0.02603	−0.058%	$63K	$187K	5x	as long as short