Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Hyperliquid+0.364%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$990.994% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 7 days−0.172%−$17 · spread now +0.364%, 7d avg +0.027%

Together, before fees−0.139%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 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: Binance is 0.337% dearer against Hyperliquid than usual: you sell high and buy low, +$34 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02171	0.0100	pay 0.0013% / 1h	2m 17s	$1.4M	$812K	3x
Short	Binance SKRUSDT	0.02179	0.0100	get 0.0050% / 4h	3h 02m	$3.8M	$13.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now +0.364%Rate

Funding earned: $0
Price spread: +0.364% → +0.027%: $33.7
Slippage, 4 orders: −$80.41
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$65.72
Costs to cover: 0.994%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; Binance: live order book, 8 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 Hyperliquid live order book, 8 min ago	0.70 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	1.16 bp	25.7 bp −$26	134.4 bp −$1,344	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	0.02166	−0.239%	$176K	$169K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02174	+0.097%	$9K	$20K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02171	long leg	$1.4M	$812K	3x
Aster SKRUSDT	+0.0100%	4h	0.02175	+0.161%	$30K	$38K	5x	as long as short
Binance SKRUSDTshort	+0.0100%	4h	0.02179	+0.364%	$3.8M	$13.9M	20x
Bybit SKRUSDT	+0.0100%	4h	0.02180	+0.382%	$4.7M	$5.4M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02171	−0.005%	$4.5M	$482K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02169	−0.120%	$666K	$738K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02179	+0.364%	$1.6M	$1.4M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02177	+0.276%	—	$2.4M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKR-USDT	+0.0100%	4h	0.02167	−0.207%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02180	+0.405%	$14K	$34K	20x	as long as short
Gate SKR_USDT	+0.0400%	4h	0.02176	+0.198%	$1.1M	$582K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0690%	1h	0.02165	−0.295%	$51K	$164K	5x	as long as short
Phoenix SKR	+0.0747%	1h	0.02164	−0.332%	$4K	$10K	3x	as long as short