Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: BingX against SunX+0.010%7-day average +0.178% · you sell dearer than you buy

Net, funding: paid 7d − costs−$208as in the Funding arb table

Net, price: spread back to 7d avg − costs−$224as in the Price arb table

costs, in and out, $10k−$2082.076% of the position

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.318%+$32 · spread now +0.010%, 7d avg +0.178%

Together, before fees+0.309%+$31 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: BingX is 0.169% cheaper against SunX than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.178%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SKR-USDT	0.02092	0.0100	pay 0.0050% / 4h	1h 00m	$2K	$3.2M	20x
Short	BingX SKR-USDT	0.02092	0.0100	get 0.0050% / 4h	1h 00m	—	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → +0.178%: −$16.86
Slippage, 4 orders: −$189.58
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$224.44
Costs to cover: 2.076%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; BingX: 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 SunX live order book, 8 min ago	30.39 bp	84.1 bp −$84	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	5.90 bp	41.3 bp −$41	100.8 bp −$1,008	381.2 bp −$38.1K	887.8 bp −$443.9K

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	0.02101	+0.425%	$239K	$165K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0007%	1h	0.02094	+0.067%	$52K	$212K	5x	as long as short
Lighter SKR	+0.0096%	1h	0.02094	+0.067%	$8K	$26K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02094	+0.072%	$1.3M	$1.4M	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02100	+0.350%	$25K	$118K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02094	+0.102%	$3.7M	$27.3M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02094	+0.072%	$4.7M	$10.5M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02095	+0.143%	$990K	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02094	+0.096%	$5.0M	$833K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02094	+0.076%	$718K	$1.5M	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	0.02094	+0.105%	$1.6M	$3.5M	20x	as long as short
BingX SKR-USDTshort	+0.0100%	4h	0.02092	+0.010%	—	$2.8M	—
SunX SKR-USDTlong	+0.0100%	4h	0.02092	long leg	$2K	$3.2M	20x
HTX SKR-USDT	+0.0100%	4h	0.02093	+0.019%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0377%	1h	0.02108	+0.765%	$4K	$10K	3x	as long as short