Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1062%/8h= +116.3% APRpaid last 24h +0.019%

Price spread now: Backpack against SunX+0.137%7-day average +0.174% · you sell dearer than you buy

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

Long on SunX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.515%+$52 on $10k

Price spread, last 4 days (all we have)+0.552%+$55 · spread now +0.137%, 7d avg +0.174%

Together, before fees+1.067%+$107 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.036% cheaper against SunX than usual: you would sell low and buy high (spread +0.137% now, against its 7-day average of +0.174%). If the spread goes back, that is −$4 on $10k: about 3 hours of funding at the current rate (+$32 a day). At the pace of the last 7 days (+0.515% in total) that is about 12 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.515% in total (about 26.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SKR-USDT	0.02109	0.0100	pay 0.0050% / 4h	24m 30s	$2K	$2.3M	20x
Short	Backpack SKR_USDC_PERP	0.02112	0.1162	get 0.0145% / 1h	24m 30s	$53K	$185K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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 SunXbpFee BackpackbpOrdersPrice spread, now +0.137%Rate

Funding earned: $223.05
Price spread: +0.137% → +0.174%: −$3.64
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $201.41
Costs to cover: 0.180%
Break-even: 0.7 days

Slippage unknown: SunX: live order book, 2 min ago; Backpack: live order book, 34 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 SunX live order book, 2 min ago	500.18 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 34 min ago	1.69 bp	19.1 bp −$19	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	0.02114	+0.223%	$231K	$168K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02115	+0.275%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02108	−0.057%	$9K	$20K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02112	+0.137%	$1.3M	$813K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02111	+0.091%	$29K	$36K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02112	+0.102%	$3.6M	$13.5M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02113	+0.180%	$4.5M	$5.3M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02114	+0.213%	$1.0M	$565K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02111	+0.057%	$4.4M	$480K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02113	+0.156%	$651K	$728K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKRUSDT	+0.0100%	4h	0.02112	+0.119%	$1.5M	$1.3M	20x	as long as short
SunX SKR-USDTlong	+0.0100%	4h	0.02109	long leg	$2K	$2.3M	20x
HTX SKR-USDT	+0.0100%	4h	0.02115	+0.284%	$14K	$35K	20x	as long as short
Backpack SKR_USDC_PERPshort	+0.1162%	1h	0.02112	+0.137%	$53K	$185K	5x
Phoenix SKR	+0.1165%	1h	0.02118	+0.427%	$4K	$10K	3x	as long as short