Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0009%/8h= −0.9% APRpaid last 24h 0.000%

Price spread now: SunX against Hyperliquid−0.318%7-day average −0.162% · you buy dearer than you sell

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

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 3 days (all we have)+0.072%+$7 · spread now −0.318%, 7d avg −0.162%

Together, before fees+0.119%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 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: SunX is 0.156% cheaper against Hyperliquid than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.162%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02137	0.0109	pay 0.0014% / 1h	47m 15s	$1.4M	$786K	3x
Short	SunX SKR-USDT	0.02130	0.0100	get 0.0050% / 4h	2h 47m	$1K	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.318%Rate

Funding earned: −$1.81
Price spread: −0.318% → −0.162%: −$15.61
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$34.42
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; SunX: live order book, 9 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	1.17 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	65.21 bp	112.9 bp −$113	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	0.02128	−0.421%	$243K	$163K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02131	−0.290%	$9K	$21K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02131	−0.268%	$29K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02135	−0.085%	$3.7M	$12.8M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02133	−0.168%	$4.6M	$5.1M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02134	−0.140%	$1.0M	$536K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02135	−0.098%	$4.4M	$462K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02132	−0.211%	$691K	$701K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02133	−0.201%	$1.5M	$1.2M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02135	−0.075%	—	$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-USDTshort	+0.0100%	4h	0.02130	−0.318%	$1K	$2.3M	20x
HTX SKR-USDT	+0.0100%	4h	0.02127	−0.482%	$14K	$36K	20x	as long as short
Hyperliquid SKRlong	+0.0109%	1h	0.02137	long leg	$1.4M	$786K	3x
Backpack SKR_USDC_PERP	+0.0279%	1h	0.02132	−0.243%	$51K	$200K	5x	as long as short
Phoenix SKR	+0.0743%	1h	0.02131	−0.267%	$4K	$10K	3x	as long as short