Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0635%/8h= +69.6% APRpaid last 24h +0.219%

Price spread now: Phoenix against HTX+2.008%48s7-day average — · you sell dearer than you buy

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

Long on HTX 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

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Phoenix is 2.008% dearer against HTX than usual: you sell high and buy low: +$201 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	HTX SKR-USDT	0.02131	0.0100	pay 0.0050% / 4h	2h 29m	$14K	$39K	20x
Short	Phoenix SKR	0.02174	0.0735	get 0.0092% / 1h	29m 25s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now +2.008%Rate

Funding earned: $133.45
Price spread: +2.008% → 0.000%: $200.82
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $315.27
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: HTX: no order-book sample; 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 HTX no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

HTX and 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	−0.0472%	4h	0.02129	−0.094%	$278K	$166K	20x	as long as short
Bybit SKRUSDT	−0.0371%	4h	0.02116	−0.713%	$4.8M	$9.7M	20x	as long as short
Hyperliquid SKR	−0.0370%	1h	0.02121	−0.465%	$1.4M	$1.3M	3x	as long as short
Backpack SKR_USDC_PERP	−0.0242%	1h	0.02126	−0.253%	$56K	$203K	5x	as long as short
Lighter SKR	+0.0096%	1h	0.02123	−0.413%	$8K	$23K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02122	−0.441%	$26K	$113K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02120	−0.528%	$3.9M	$24.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02124	−0.333%	$1.0M	$1.6M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02123	−0.380%	$5.1M	$813K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02117	−0.662%	$697K	$1.4M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKRUSDT	+0.0100%	4h	0.02115	−0.769%	$1.6M	$3.3M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02114	−0.802%	—	$2.7M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02123	−0.385%	$1K	$3.0M	20x	as long as short
HTX SKR-USDTlong	+0.0100%	4h	0.02131	long leg	$14K	$39K	20x
Phoenix SKRshort	+0.0735%	1h	0.02174	+2.008%	$4K	$10K	3x