Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0385%/8h= −42.1% APRpaid last 24h −0.014%

Price spread now: MEXC against Backpack+0.057%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.507%−$51 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now +0.057%, 7d avg −0.025%

Together, before fees−0.600%−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.082% dearer against Backpack than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of −0.025%): +$8 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02114	0.0485	pay 0.0061% / 1h	29m 47s	$53K	$196K	5x
Short	MEXC SKR_USDT	0.02115	0.0100	get 0.0050% / 4h	3h 29m	$4.4M	$464K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Backpack. 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 BackpackbpFee MEXCbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$80.78
Price spread: +0.057% → −0.025%: $8.2
Slippage, 4 orders: −$27.26
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$113.85
Costs to cover: 0.413%
Break-even: never at this rate

Slippage from Backpack: live order book, 43 min ago; MEXC: live order book, 3 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, 43 min ago	2.13 bp	13.3 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.24 bp	7.0 bp −$7	52.1 bp −$521	310.9 bp −$31.1K	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	0.02117	+0.137%	$236K	$156K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02114	+0.033%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02110	−0.194%	$9K	$22K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02116	+0.099%	$1.3M	$719K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02112	−0.075%	$26K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02115	+0.067%	$3.6M	$12.4M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02114	−0.009%	$4.5M	$5.0M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02112	−0.090%	$1.0M	$529K	20x	as long as short
MEXC SKR_USDTshort	+0.0100%	4h	0.02115	+0.057%	$4.4M	$464K	20x
KuCoin SKRUSDTM	+0.0100%	4h	0.02112	−0.062%	$685K	$690K	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	0.02115	+0.066%	$1.5M	$1.2M	20x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02109	−0.227%	$1K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02117	+0.161%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERPlong	+0.0485%	1h	0.02114	long leg	$53K	$196K	5x
Phoenix SKR	+0.1502%	1h	0.02124	+0.506%	$4K	$10K	3x	as long as short