Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: BingX against Hyperliquid−0.024%7-day average +0.035% · you buy dearer than you sell

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

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 7 days+0.128%+$13 · spread now −0.024%, 7d avg +0.035%

Together, before fees+0.137%+ 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: BingX is 0.058% cheaper against Hyperliquid than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02099	0.0100	pay 0.0013% / 1h	20m 09s	$1.3M	$1.5M	3x
Short	BingX SKR-USDT	0.02099	0.0100	get 0.0050% / 4h	2h 20m	—	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → +0.035%: −$5.84
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$24.84
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; BingX: live order book, 8 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 Hyperliquid live order book, 3 min ago	0.71 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	6.20 bp	43.3 bp −$43	129.9 bp −$1,299	429.0 bp −$42.9K	947.8 bp −$473.9K

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-USDT	−0.0140%	4h	0.02100	+0.033%	$233K	$164K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02098	−0.071%	$8K	$26K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02099	long leg	$1.3M	$1.5M	3x
Aster SKRUSDT	+0.0100%	4h	0.02100	+0.013%	$25K	$122K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02099	+0.005%	$3.6M	$28.3M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02100	+0.019%	$4.6M	$10.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02100	+0.019%	$984K	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02099	−0.019%	$5.0M	$809K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02099	−0.005%	$694K	$1.6M	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02101	+0.062%	$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-USDTshort	+0.0100%	4h	0.02099	−0.024%	—	$2.8M	—
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02102	+0.124%	$54K	$202K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02097	−0.124%	$2K	$3.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02099	+0.010%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0378%	1h	0.02100	+0.033%	$4K	$10K	3x	as long as short