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: Hyperliquid against Phoenix−0.387%61s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Hyperliquid

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 against this trade now: funding costs −$19 a day on $10k at the current rate, and Hyperliquid is 0.387% cheaper against Phoenix than usual: you would sell low and buy high (−$39 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SKR	0.02091	0.0743	pay 0.0093% / 1h	2m 17s	$4K	$10K	3x
Short	Hyperliquid SKR	0.02083	0.0100	get 0.0013% / 1h	2m 17s	$1.3M	$785K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.387%Rate

Funding earned: −$135.11
Price spread: −0.387% → 0.000%: −$38.73
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$189.84
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Hyperliquid: live order book, 8 min ago. 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 Hyperliquid live order book, 8 min ago	1.20 bp	28.0 bp −$28	doesn't fit	doesn't fit	doesn't fit

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	0.02077	−0.674%	$9K	$21K	3x	as long as short
Hyperliquid SKRshort	+0.0100%	1h	0.02083	−0.387%	$1.3M	$785K	3x
Aster SKRUSDT	+0.0100%	4h	0.02082	−0.423%	$28K	$34K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02084	−0.363%	$3.6M	$13.1M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02083	−0.383%	$4.5M	$5.2M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02083	−0.402%	$1.0M	$549K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02082	−0.421%	$4.3M	$472K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02082	−0.454%	$658K	$722K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02082	−0.435%	$1.5M	$1.2M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02084	−0.335%	—	$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	0.02081	−0.493%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02090	−0.086%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0171%	1h	0.02080	−0.545%	$50K	$201K	5x	as long as short
Phoenix SKRlong	+0.0743%	1h	0.02091	long leg	$4K	$10K	3x