Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: SunX against BingX−0.019%55s7-day average −0.168% · you buy dearer than you sell

Net, funding: paid 7d − costs−$216as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2172.174% of the position

Long on BingX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−1.038%−$104 · spread now −0.019%, 7d avg −0.168%

Together, before fees−1.029%−$103 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 0.150% dearer against BingX than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.168%. The two prices were read 55 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	BingX SKR-USDT	0.02132	0.0100	pay 0.0050% / 4h	3h 42m	—	$2.8M	—
Short	SunX SKR-USDT	0.02131	0.0100	get 0.0050% / 4h	3h 42m	$1K	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against BingX. 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 BingXbpFee SunXbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → −0.168%: $14.97
Slippage, 4 orders: −$199.39
Fee BingX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$202.42
Costs to cover: 2.174%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; SunX: live order book, 5 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 BingX live order book, 7 min ago	4.47 bp	33.5 bp −$34	120.4 bp −$1,204	454.7 bp −$45.5K	885.2 bp −$442.6K
Sell SunX live order book, 5 min ago	31.64 bp	65.3 bp −$65	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	0.02130	−0.075%	$235K	$168K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02134	+0.099%	$8K	$26K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02135	+0.178%	$1.3M	$1.4M	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02133	+0.061%	$25K	$121K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02133	+0.061%	$3.7M	$27.9M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02134	+0.127%	$4.7M	$10.7M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02135	+0.160%	$1.0M	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02134	+0.099%	$5.1M	$809K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02133	+0.070%	$780K	$1.5M	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02153	+1.004%	$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-USDTlong	+0.0100%	4h	0.02132	long leg	—	$2.8M	—
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02134	+0.122%	$53K	$211K	5x	as long as short
SunX SKR-USDTshort	+0.0100%	4h	0.02131	−0.019%	$1K	$3.2M	20x
HTX SKR-USDT	+0.0100%	4h	0.02139	+0.328%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0380%	1h	0.02134	+0.099%	$4K	$10K	3x	as long as short