Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: Hyperliquid against KuCoin0.000%7-day average −0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$311as in the Funding arb table

Net, price: spread back to 7d avg − costs−$289as in the Price arb table

costs, in and out, $10k−$2952.946% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now 0.000%, 7d avg −0.057%

Together, before fees−0.147%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 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: Hyperliquid is 0.057% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKRUSDTM	0.02159	0.0100	pay 0.0050% / 4h	3h 45m	$662K	$736K	20x
Short	Hyperliquid SKR	0.02159	0.0100	get 0.0013% / 1h	45m 23s	$1.4M	$818K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.057%: $5.7
Slippage, 4 orders: −$273.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$288.89
Costs to cover: 2.946%
Break-even: never at this rate

Slippage from KuCoin: live order book, 29 min ago; Hyperliquid: live order book, 5 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 KuCoin live order book, 29 min ago	9.84 bp	133.1 bp −$133	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.46 bp	27.0 bp −$27	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
BloFin SKR-USDT	−0.0140%	4h	0.02160	+0.079%	$238K	$172K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02154	−0.204%	$9K	$20K	3x	as long as short
Hyperliquid SKRshort	+0.0100%	1h	0.02159	0.000%	$1.4M	$818K	3x
Aster SKRUSDT	+0.0100%	4h	0.02158	−0.025%	$28K	$38K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02158	−0.042%	$3.7M	$13.7M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02157	−0.097%	$4.6M	$5.4M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02158	−0.019%	$4.5M	$478K	20x	as long as short
KuCoin SKRUSDTMlong	+0.0100%	4h	0.02159	long leg	$662K	$736K	20x
Bitget SKRUSDT	+0.0100%	4h	0.02157	−0.060%	$1.5M	$1.3M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02160	+0.069%	—	$2.4M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKR-USDT	+0.0100%	4h	0.02154	−0.218%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02157	−0.097%	$14K	$35K	20x	as long as short
Gate SKR_USDT	+0.0358%	4h	0.02160	+0.056%	$1.1M	$573K	20x	as long as short
Phoenix SKR	+0.0747%	1h	0.02165	+0.296%	$4K	$10K	3x	as long as short
Backpack SKR_USDC_PERP	+0.0798%	1h	0.02157	−0.065%	$52K	$185K	5x	as long as short