Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.1057%/8hpaid last 24h +0.237%

Price spread now: Phoenix against Gate−0.134%257s7-day average — · you buy dearer than you sell

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

Long on Gate 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

Funding pays, the price is against you. Phoenix is 0.134% cheaper against Gate than usual: you would sell low and buy high (spread −0.134% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 10 hours of funding at the current rate (+$32 a day). The two prices were read 257 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	Gate SKR_USDT	0.02094	0.0100	pay 0.0050% / 4h	39m 07s	$1.0M	$517K	20x
Short	Phoenix SKR	0.02091	0.1157	get 0.0145% / 1h	39m 07s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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 GatebpFee PhoenixbpOrdersPrice spread, now −0.134%Rate

Funding earned: $222.01
Price spread: −0.134% → 0.000%: −$13.37
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $186.64
Costs to cover: 0.220%
Break-even: 1.1 days

Slippage unknown: Gate: live order book, 12 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 Gate live order book, 12 min ago	11.03 bp	97.3 bp −$97	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	−0.0053%	4h	0.02098	+0.181%	$240K	$146K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02089	−0.229%	$14K	$17K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02092	−0.096%	$1.3M	$705K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02094	+0.031%	$27K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02094	0.000%	$3.5M	$11.1M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02094	+0.005%	$4.6M	$4.6M	20x	as long as short
Gate SKR_USDTlong	+0.0100%	4h	0.02094	long leg	$1.0M	$517K	20x
MEXC SKR_USDT	+0.0100%	4h	0.02094	−0.010%	$4.4M	$472K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02096	+0.081%	$678K	$683K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02096	+0.096%	$1.5M	$1.1M	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	0.02092	−0.096%	—	$2.4M	—	as long as short
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02092	−0.105%	$51K	$242K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02090	−0.196%	$2K	$2.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02095	+0.067%	$14K	$37K	20x	as long as short
Phoenix SKRshort	+0.1157%	1h	0.02091	−0.134%	$4K	$10K	3x