Funding you earn now, next payment 06:00 UTC−0.1400%/8h= −153.3% APRpaid last 24h −0.017%
Price spread now: KuCoin against Backpack+0.366%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$357as in the Funding arb table
Net, price: spread back to 7d avg − costs−$285as in the Price arb table
costs, in and out, $10k−$3173.171% of the position
Funding, last 7 days−0.401%−$40 on $10k
+Price spread, last 4 days (all we have)−0.287%−$29 · spread now +0.366%, 7d avg +0.045%
=The price spread pays, funding is against you. KuCoin is 0.321% dearer against Backpack than usual: you sell high and buy low (spread +0.366% now, against its 7-day average of +0.045%): +$32 on $10k if it goes back. Holding the pair costs −$42 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.401% in total) that is about 5.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.401% in total (about -20.9% 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 | Backpack SKR_USDC_PERP | 0.02569 | 0.1500 | pay 0.0188% / 1h | 49m 09s | $67K | $193K | 5x |
| Short | KuCoin SKRUSDTM | 0.02578 | 0.0100 | get 0.0050% / 4h | 2h 49m | $857K | $1.1M | 20x |
Backpack SKR_USDC_PERP
KuCoin SKRUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$294.03
- Price spread: +0.366% → +0.045%
- $32.09
- Slippage, 4 orders
- −$295.14
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$579.08
- Costs to cover
- 3.171%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 64 min ago; KuCoin: live order book, 20 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 Backpack live order book, 64 min ago | 2.09 bp | 12.3 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 20 min ago | 7.87 bp | 152.6 bp −$153 | 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 | 0.02576 | +0.280% | $266K | $197K | 20x | as long as short |
| Lighter SKR | +0.0096% | 1h | 0.02571 | +0.086% | $11K | $19K | 3x | as long as short |
| Binance SKRUSDT | +0.0100% | 4h | 0.02571 | +0.082% | $5.3M | $18.9M | 20x | as long as short |
| Bybit SKRUSDT | +0.0100% | 4h | 0.02568 | −0.043% | $5.7M | $6.8M | 20x | as long as short |
| Gate SKR_USDT | +0.0100% | 4h | 0.02572 | +0.113% | $1.3M | $1.0M | 20x | as long as short |
| MEXC SKR_USDT | +0.0100% | 4h | 0.02575 | +0.230% | $5.7M | $593K | 20x | as long as short |
| KuCoin SKRUSDTMshort | +0.0100% | 4h | 0.02578 | +0.366% | $857K | $1.1M | 20x | |
| Bitget SKRUSDT | +0.0100% | 4h | 0.02560 | −0.354% | $2.0M | $2.2M | 20x | as long as short |
| BingX SKR-USDT | +0.0100% | 4h | 0.02544 | −0.969% | — | $2.6M | — | as long as short |
| SunX SKR-USDT | +0.0100% | 4h | 0.02578 | +0.354% | $2K | $2.6M | 20x | as long as short |
BloFin SKR-USDT
Lighter SKR
Binance SKRUSDT
Bybit SKRUSDT
Gate SKR_USDT
MEXC SKR_USDT
Bitget SKRUSDT
BingX SKR-USDT
SunX SKR-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX SKR-USDT | +0.0100% | 4h | 0.02582 | +0.518% | $16K | $36K | 20x | as long as short |
| Hyperliquid SKR | +0.0159% | 1h | 0.02570 | +0.035% | $1.6M | $1.0M | 3x | as long as short |
| Aster SKRUSDT | +0.0281% | 4h | 0.02583 | +0.522% | $35K | $86K | 5x | as long as short |
| Phoenix SKR | +0.0735% | 1h | 0.02341 | −8.886% | $4K | $10K | 3x | as long as short |
| Backpack SKR_USDC_PERPlong | +0.1500% | 1h | 0.02569 | long leg | $67K | $193K | 5x |
HTX SKR-USDT
Hyperliquid SKR
Aster SKRUSDT
Phoenix SKR