Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.055%

Price spread now: Hyperliquid against BloFin0.000%67s7-day average −0.021% · you sell dearer than you buy

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

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.187%+$19 on $10k

Price spread, last 4 days (all we have)+0.450%+$45 · spread now 0.000%, 7d avg −0.021%

Together, before fees+0.636%+ Points / potential airdropHyperliquid: Season 2 · farm board+$64 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Hyperliquid is 0.021% dearer against BloFin than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.021%. The two prices were read 67 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	BloFin SKR-USDT	0.02098	−0.0140	get 0.0070% / 4h	2h 18m	$232K	$164K	20x
Short	Hyperliquid SKR	0.02098	0.0100	get 0.0013% / 1h	18m 08s	$1.3M	$1.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now 0.000%Rate

Funding earned: $50.4
Price spread: 0.000% → −0.021%: $2.11
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $31.51
Costs to cover: 0.210%
Break-even: 2.6 days

Slippage unknown: BloFin: live order book, 28 min ago; Hyperliquid: live order book, 5 min ago. 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 BloFin live order book, 28 min ago	4.77 bp	36.5 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.71 bp	5.2 bp −$5	doesn't fit	doesn't fit	doesn't fit

SKR on 15 exchanges

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-USDTlong	−0.0140%	4h	0.02098	long leg	$232K	$164K	20x
Lighter SKR	+0.0096%	1h	0.02098	+0.005%	$8K	$26K	3x	as long as short
Hyperliquid SKRshort	+0.0100%	1h	0.02098	0.000%	$1.3M	$1.5M	3x
Aster SKRUSDT	+0.0100%	4h	0.02098	−0.005%	$25K	$122K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02098	+0.034%	$3.6M	$28.3M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02099	+0.062%	$4.6M	$10.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02099	+0.048%	$984K	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02098	+0.033%	$5.0M	$809K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02099	+0.043%	$694K	$1.6M	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02100	+0.095%	$1.6M	$3.6M	20x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SKR-USDT	+0.0100%	4h	0.02099	+0.038%	—	$2.8M	—	as long as short
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02099	+0.072%	$54K	$202K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02098	−0.005%	$1K	$3.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02096	−0.086%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0378%	1h	0.02100	+0.110%	$4K	$10K	3x	as long as short