Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.026%

Price spread now: KuCoin against Hyperliquid−0.057%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$568as in the Funding arb table

Net, price: spread back to 7d avg − costs−$599as in the Price arb table

costs, in and out, $10k−$5875.867% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.057%, 7d avg +0.064%

Together, before fees+0.226%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 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: KuCoin is 0.121% cheaper against Hyperliquid than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02100	0.0100	pay 0.0013% / 1h	46m 39s	$1.3M	$734K	3x
Short	KuCoin SKRUSDTM	0.02099	0.0100	get 0.0050% / 4h	1h 46m	$679K	$684K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.057%Rate

Funding earned: $0
Price spread: −0.057% → +0.064%: −$12.1
Slippage, 4 orders: −$565.73
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$598.83
Costs to cover: 5.867%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; KuCoin: live order book, 27 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, 4 min ago	0.24 bp	22.7 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 27 min ago	7.80 bp	223.9 bp −$224	doesn't fit	doesn't fit	doesn't fit

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
Backpack SKR_USDC_PERP	−0.0392%	1h	0.02096	−0.181%	$50K	$218K	5x	as long as short
BloFin SKR-USDT	−0.0140%	4h	0.02099	−0.024%	$236K	$152K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02094	−0.267%	$14K	$17K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02100	long leg	$1.3M	$734K	3x
Aster SKRUSDT	+0.0100%	4h	0.02101	+0.040%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02100	−0.008%	$3.5M	$11.9M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02098	−0.105%	$4.5M	$4.8M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02097	−0.110%	$1.0M	$528K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02099	−0.038%	$4.3M	$479K	20x	as long as short
KuCoin SKRUSDTMshort	+0.0100%	4h	0.02099	−0.057%	$679K	$684K	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKRUSDT	+0.0100%	4h	0.02100	+0.014%	$1.5M	$1.1M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02099	−0.014%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02092	−0.352%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02104	+0.195%	$14K	$37K	20x	as long as short
Phoenix SKR	+0.0379%	1h	0.02105	+0.262%	$4K	$10K	3x	as long as short