Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.029%

Price spread now: Backpack against MEXC+0.083%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs+$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.527%+$53 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.083%, 7d avg +0.033%

Together, before fees+0.475%+$47 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: Backpack is 0.050% dearer against MEXC than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SKR_USDT	0.02044	0.0100	pay 0.0050% / 4h	31m 04s	$4.9M	$817K	20x
Short	Backpack SKR_USDC_PERP	0.02045	0.0100	get 0.0013% / 1h	31m 04s	$55K	$205K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.083%Rate

Funding earned: $0
Price spread: +0.083% → +0.033%: $5.01
Slippage, 4 orders: −$25.93
Fee MEXC: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$34.91
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Backpack: live order book, 10 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 MEXC live order book, 4 min ago	0.49 bp	7.1 bp −$7	51.9 bp −$519	353.8 bp −$35.4K	doesn't fit
Sell Backpack live order book, 10 min ago	1.45 bp	13.2 bp −$13	doesn't fit	doesn't fit	doesn't fit

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	+0.0075%	4h	0.02048	+0.230%	$226K	$162K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02044	+0.005%	$7K	$26K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02043	−0.054%	$1.4M	$1.6M	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02045	+0.059%	$16K	$135K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02044	+0.005%	$3.5M	$28.7M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02046	+0.103%	$4.4M	$11.1M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02046	+0.108%	$961K	$1.7M	20x	as long as short
MEXC SKR_USDTlong	+0.0100%	4h	0.02044	long leg	$4.9M	$817K	20x
KuCoin SKRUSDTM	+0.0100%	4h	0.02045	+0.059%	$688K	$1.6M	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02045	+0.044%	$1.5M	$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-USDT	+0.0100%	4h	0.02040	−0.176%	—	$2.9M	—	as long as short
Backpack SKR_USDC_PERPshort	+0.0100%	1h	0.02045	+0.083%	$55K	$205K	5x
SunX SKR-USDT	+0.0100%	4h	0.02043	−0.054%	$2K	$3.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02043	−0.029%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0386%	1h	0.02057	+0.636%	$3K	$11K	3x	as long as short