SKR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0643%/8h= +70.5% APRnext payment +$0.80 per $10,000 · paid last 24h +0.194%

Price spread now: Phoenix against Hyperliquid+0.509%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid 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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Phoenix is 0.509% dearer against Hyperliquid than usual: you sell high and buy low: +$51 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	Hyperliquid SKR	0.02081	0.0100	pay 0.0013% / 1h	3m 05s	$1.3M	$785K	3x
Short	Phoenix SKR	0.02091	0.0743	get 0.0093% / 1h	3m 05s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.509%Rate

Funding earned: $135.11
Price spread: +0.509% → 0.000%: $50.94
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $170.06
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 7 min ago; 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 Hyperliquid live order book, 7 min ago	1.20 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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 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	0.02079	−0.077%	$9K	$21K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02081	long leg	$1.3M	$785K	3x
Aster SKRUSDT	+0.0100%	4h	0.02085	+0.183%	$28K	$34K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02082	+0.041%	$3.6M	$13.1M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02081	+0.024%	$4.5M	$5.2M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02084	+0.163%	$1.0M	$549K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02082	+0.058%	$4.3M	$472K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02084	+0.183%	$659K	$722K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02079	−0.072%	$1.5M	$1.2M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02081	+0.010%	—	$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	0.02082	+0.053%	$1K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02090	+0.423%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0171%	1h	0.02080	−0.038%	$50K	$201K	5x	as long as short
Phoenix SKRshort	+0.0743%	1h	0.02091	+0.509%	$4K	$10K	3x