Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0251%/8h= +27.4% APRpaid last 24h +0.010%

Price spread now: Backpack against Bitget−0.023%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1081.085% of the position

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.504%+$50 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.023%, 7d avg +0.046%

Together, before fees+0.591%+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.069% cheaper against Bitget than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.046%). If the spread goes back, that is −$7 on $10k: about 22 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKRUSDT	0.02129	0.0100	pay 0.0050% / 4h	1m 10s	$1.5M	$1.2M	20x
Short	Backpack SKR_USDC_PERP	0.02128	0.0351	get 0.0044% / 1h	1m 10s	$51K	$213K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now −0.023%Rate

Funding earned: $52.64
Price spread: −0.023% → +0.046%: −$6.93
Slippage, 4 orders: −$86.5
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$62.79
Costs to cover: 1.085%
Break-even: 15.3 days

Slippage from Bitget: live order book, 5 min ago; Backpack: live order book, 12 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 Bitget live order book, 5 min ago	6.62 bp	31.8 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 12 min ago	2.13 bp	14.0 bp −$14	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	0.02127	−0.061%	$236K	$156K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02122	−0.324%	$14K	$16K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02130	+0.038%	$1.4M	$743K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02124	−0.210%	$26K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02126	−0.113%	$3.6M	$12.3M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02126	−0.117%	$4.5M	$5.0M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02126	−0.117%	$1.0M	$532K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02126	−0.113%	$4.4M	$465K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02126	−0.141%	$684K	$686K	20x	as long as short
Bitget SKRUSDTlong	+0.0100%	4h	0.02129	long leg	$1.5M	$1.2M	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SKR-USDT	+0.0100%	4h	0.02129	+0.005%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02122	−0.301%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02126	−0.113%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERPshort	+0.0351%	1h	0.02128	−0.023%	$51K	$213K	5x
Phoenix SKR	+0.0755%	1h	0.02126	−0.132%	$4K	$10K	3x	as long as short