Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0647%/8h= +70.9% APRpaid last 24h +0.198%

Price spread now: Phoenix against KuCoin−0.019%78s7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$19 a day on $10k at the current rate. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKRUSDTM	0.02160	0.0100	pay 0.0050% / 4h	3h 06m	$663K	$738K	20x
Short	Phoenix SKR	0.02160	0.0747	get 0.0093% / 1h	6m 01s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.019%Rate

Funding earned: $135.92
Price spread: −0.019% → 0.000%: −$1.85
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $115.07
Costs to cover: 0.190%
Break-even: 1.1 days

Slippage unknown: KuCoin: live order book, 3 min ago; Phoenix: no order-book sample. 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 KuCoin live order book, 3 min ago	7.87 bp	131.1 bp −$131	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.02161	+0.023%	$243K	$170K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02160	−0.019%	$9K	$20K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02165	+0.222%	$1.4M	$812K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02161	+0.014%	$30K	$38K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02164	+0.160%	$3.7M	$13.9M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02164	+0.167%	$4.6M	$5.4M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02164	+0.157%	$4.5M	$482K	20x	as long as short
KuCoin SKRUSDTMlong	+0.0100%	4h	0.02160	long leg	$663K	$738K	20x
Bitget SKRUSDT	+0.0100%	4h	0.02167	+0.306%	$1.6M	$1.4M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02164	+0.181%	—	$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	0.02157	−0.157%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02161	+0.051%	$14K	$34K	20x	as long as short
Gate SKR_USDT	+0.0322%	4h	0.02165	+0.213%	$1.0M	$582K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0674%	1h	0.02163	+0.130%	$52K	$164K	5x	as long as short
Phoenix SKRshort	+0.0747%	1h	0.02160	−0.019%	$4K	$10K	3x