Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h +0.010%

Price spread now: Backpack against Aster−0.044%45s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Backpack

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 airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Backpack is 0.044% cheaper against Aster than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 34 hours of funding at the current rate (+$3 a day). The two prices were read 45 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	Aster SKRUSDT	0.02103	0.0100	pay 0.0050% / 4h	51m 26s	$26K	$33K	5x
Short	Backpack SKR_USDC_PERP	0.02102	0.0203	get 0.0025% / 1h	51m 26s	$52K	$213K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now −0.044%Rate

Funding earned: $21.67
Price spread: −0.044% → 0.000%: −$4.36
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$0.69
Costs to cover: 0.180%
Break-even: 7.2 days

Slippage unknown: Aster: no order-book sample; Backpack: live order book, 27 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 Aster no order-book sample	—	—	—	—	—
Sell Backpack live order book, 27 min ago	1.90 bp	12.9 bp −$13	doesn't fit	doesn't fit	doesn't fit

Aster: 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	0.02104	+0.023%	$233K	$153K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02100	−0.162%	$14K	$16K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02106	+0.147%	$1.3M	$740K	3x	as long as short
Aster SKRUSDTlong	+0.0100%	4h	0.02103	long leg	$26K	$33K	5x
Binance SKRUSDT	+0.0100%	4h	0.02105	+0.085%	$3.5M	$12.1M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02104	+0.018%	$4.5M	$4.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02102	−0.029%	$1.0M	$528K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02106	+0.123%	$4.4M	$462K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02105	+0.080%	$676K	$685K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02105	+0.090%	$1.5M	$1.1M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SKR-USDT	+0.0100%	4h	0.02105	+0.085%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02099	−0.191%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02110	+0.337%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERPshort	+0.0203%	1h	0.02102	−0.044%	$52K	$213K	5x
Phoenix SKR	+0.0755%	1h	0.02108	+0.213%	$4K	$10K	3x	as long as short