Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0647%/8h= −70.9% APRpaid last 24h −0.215%

Price spread now: HTX against Phoenix+0.069%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on HTX

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—needs both histories

The price spread pays, funding is against you. HTX is 0.069% dearer against Phoenix than usual: you sell high and buy low (spread +0.069% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SKR	0.02169	0.0747	pay 0.0093% / 1h	14m 47s	$4K	$10K	3x
Short	HTX SKR-USDT	0.02171	0.0100	get 0.0050% / 4h	3h 14m	$14K	$34K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phoenix. 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 PhoenixbpFee HTXbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$135.92
Price spread: +0.069% → 0.000%: $6.92
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$148.01
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; 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 Phoenix no order-book sample	—	—	—	—	—
Sell HTX no order-book sample	—	—	—	—	—

Phoenix and 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	0.02167	−0.083%	$245K	$170K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02159	−0.461%	$9K	$20K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02166	−0.157%	$1.4M	$820K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02160	−0.425%	$30K	$38K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02164	−0.235%	$3.7M	$13.9M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02164	−0.231%	$4.6M	$5.4M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02163	−0.263%	$4.5M	$481K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02161	−0.350%	$663K	$737K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02161	−0.360%	$1.5M	$1.4M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02165	−0.212%	—	$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	0.02158	−0.526%	$2K	$2.3M	20x	as long as short
HTX SKR-USDTshort	+0.0100%	4h	0.02171	+0.069%	$14K	$34K	20x
Gate SKR_USDT	+0.0248%	4h	0.02163	−0.272%	$1.1M	$580K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0725%	1h	0.02162	−0.341%	$52K	$164K	5x	as long as short
Phoenix SKRlong	+0.0747%	1h	0.02169	long leg	$4K	$10K	3x