SKR

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0762%/8h= +83.5% APRnext payment +$0.95 per $10,000 · paid last 24h +0.185%

Price spread now: Phoenix against Backpack+0.479%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on Phoenix

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—needs both histories

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Phoenix is 0.479% dearer against Backpack than usual: you sell high and buy low: +$48 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02128	−0.0027	get 0.0003% / 1h	12m 20s	$54K	$207K	5x
Short	Phoenix SKR	0.02139	0.0735	get 0.0092% / 1h	12m 20s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.479%Rate

Funding earned: $160.12
Price spread: +0.479% → 0.000%: $47.92
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $191.04
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Backpack: live order book, 32 min ago; Phoenix: no order-book sample. 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 Backpack live order book, 32 min ago	3.09 bp	31.0 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	−0.0255%	4h	0.02126	−0.113%	$264K	$166K	20x	as long as short
Hyperliquid SKR	−0.0122%	1h	0.02127	−0.056%	$1.4M	$1.4M	3x	as long as short
Bybit SKRUSDT	−0.0042%	4h	0.02128	−0.033%	$4.9M	$9.9M	20x	as long as short
Backpack SKR_USDC_PERPlong	−0.0027%	1h	0.02128	long leg	$54K	$207K	5x
Lighter SKR	+0.0096%	1h	0.02129	+0.042%	$8K	$30K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02127	−0.054%	$25K	$115K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02127	−0.084%	$3.9M	$25.7M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02128	−0.028%	$1.0M	$1.6M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02129	+0.028%	$5.1M	$818K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02130	+0.052%	$697K	$1.4M	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	0.02128	−0.038%	$1.6M	$3.4M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02126	−0.136%	—	$2.8M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02126	−0.099%	$1K	$3.1M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02138	+0.423%	$14K	$40K	20x	as long as short
Phoenix SKRshort	+0.0735%	1h	0.02139	+0.479%	$4K	$10K	3x