Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.024%

Price spread now: KuCoin against Hyperliquid+0.122%7-day average +0.057% · you sell dearer than you buy

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

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.172%+$17 on $10k

Price spread, last 4 days (all we have)−0.178%−$18 · spread now +0.122%, 7d avg +0.057%

Together, before fees−0.006%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 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: KuCoin is 0.065% dearer against Hyperliquid than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02129	0.0100	pay 0.0013% / 1h	16m 12s	$1.4M	$815K	3x
Short	KuCoin SKRUSDTM	0.02131	0.0100	get 0.0050% / 4h	16m 12s	$657K	$729K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpOrdersPrice spread, now +0.122%Rate

Funding earned: $0
Price spread: +0.122% → +0.057%: $6.5
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$14.5
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 4 min ago; KuCoin: live order book, 68 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, 4 min ago	0.23 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 68 min ago	7.74 bp	207.8 bp −$208	doesn't fit	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	0.02133	+0.230%	$235K	$169K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02128	−0.019%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02124	−0.216%	$9K	$20K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02129	long leg	$1.4M	$815K	3x
Aster SKRUSDT	+0.0100%	4h	0.02132	+0.136%	$29K	$35K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02126	−0.102%	$3.6M	$13.5M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02130	+0.056%	$4.5M	$5.3M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02131	+0.103%	$1.0M	$567K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02128	−0.014%	$4.4M	$488K	20x	as long as short
KuCoin SKRUSDTMshort	+0.0100%	4h	0.02131	+0.122%	$657K	$729K	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKRUSDT	+0.0100%	4h	0.02130	+0.042%	$1.5M	$1.3M	20x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02123	−0.244%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02128	−0.023%	$14K	$35K	20x	as long as short
Phoenix SKR	+0.1165%	1h	0.02138	+0.456%	$4K	$10K	3x	as long as short
Backpack SKR_USDC_PERP	+0.1218%	1h	0.02128	−0.038%	$53K	$185K	5x	as long as short