Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.030%

Price spread now: SunX against Backpack−0.075%7-day average −0.167% · you buy dearer than you sell

Net, funding: paid 7d − costs−$263as in the Funding arb table

Net, price: spread back to 7d avg − costs−$201as in the Price arb table

costs, in and out, $10k−$2102.101% of the position

Long on Backpack Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.530%−$53 on $10k

Price spread, last 4 days (all we have)−1.074%−$107 · spread now −0.075%, 7d avg −0.167%

Together, before fees−1.604%−$160 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: SunX is 0.092% dearer against Backpack than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.167%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02144	0.0100	pay 0.0013% / 1h	33m 42s	$55K	$210K	5x
Short	SunX SKR-USDT	0.02143	0.0100	get 0.0050% / 4h	3h 33m	$2K	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.075%Rate

Funding earned: $0
Price spread: −0.075% → −0.167%: $9.22
Slippage, 4 orders: −$192.07
Fee Backpack: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$200.86
Costs to cover: 2.101%
Break-even: never at this rate

Slippage from Backpack: live order book, 60 min ago; SunX: live order book, 4 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, 60 min ago	0.24 bp	31.4 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	31.62 bp	54.8 bp −$55	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	0.02143	−0.042%	$239K	$169K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02144	+0.005%	$8K	$26K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02145	+0.023%	$1.3M	$1.4M	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02142	−0.104%	$26K	$121K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02146	+0.056%	$3.8M	$28.0M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02145	+0.042%	$4.7M	$10.8M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02147	+0.103%	$1.0M	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02144	0.000%	$5.1M	$812K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02144	+0.005%	$788K	$1.5M	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02146	+0.056%	$1.6M	$3.6M	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	0.02143	−0.051%	—	$2.8M	—	as long as short
Backpack SKR_USDC_PERPlong	+0.0100%	1h	0.02144	long leg	$55K	$210K	5x
SunX SKR-USDTshort	+0.0100%	4h	0.02143	−0.075%	$2K	$3.2M	20x
HTX SKR-USDT	+0.0100%	4h	0.02145	+0.028%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0380%	1h	0.02151	+0.303%	$4K	$10K	3x	as long as short