Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.019%

Price spread now: Hyperliquid against KuCoin−0.095%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$270as in the Funding arb table

Net, price: spread back to 7d avg − costs−$259as in the Price arb table

costs, in and out, $10k−$2552.546% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now −0.095%, 7d avg −0.054%

Together, before fees−0.095%+ Points / potential airdropHyperliquid: Season 2 · farm board−$9 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: Hyperliquid is 0.041% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKRUSDTM	0.02109	0.0100	pay 0.0050% / 4h	16m 03s	$768K	$1.5M	20x
Short	Hyperliquid SKR	0.02107	0.0100	get 0.0013% / 1h	16m 03s	$1.3M	$1.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now −0.095%Rate

Funding earned: $0
Price spread: −0.095% → −0.054%: −$4.09
Slippage, 4 orders: −$233.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$258.68
Costs to cover: 2.546%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Hyperliquid: live order book, 4 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 KuCoin live order book, 10 min ago	10.06 bp	106.7 bp −$107	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.24 bp	4.7 bp −$5	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	0.02112	+0.147%	$240K	$165K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02107	−0.076%	$8K	$26K	3x	as long as short
Hyperliquid SKRshort	+0.0100%	1h	0.02107	−0.095%	$1.3M	$1.4M	3x
Aster SKRUSDT	+0.0100%	4h	0.02109	−0.013%	$26K	$118K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02107	−0.115%	$3.7M	$27.6M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02107	−0.095%	$4.7M	$10.6M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02110	+0.066%	$997K	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02108	−0.057%	$5.0M	$835K	20x	as long as short
KuCoin SKRUSDTMlong	+0.0100%	4h	0.02109	long leg	$768K	$1.5M	20x
Bitget SKRUSDT	+0.0100%	4h	0.02110	+0.047%	$1.6M	$3.5M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SKR-USDT	+0.0100%	4h	0.02106	−0.142%	—	$2.8M	—	as long as short
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02106	−0.128%	$53K	$211K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02105	−0.209%	$2K	$3.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02112	+0.138%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.1148%	1h	0.02097	−0.560%	$4K	$10K	3x	as long as short