Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0643%/8h= −70.5% APRpaid last 24h −0.194%

Price spread now: HTX against Phoenix−1.504%72s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on HTX

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

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and HTX is 1.504% cheaper against Phoenix than usual: you would sell low and buy high (−$150 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 72 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	Phoenix SKR	0.02141	0.0743	pay 0.0093% / 1h	38m 05s	$4K	$10K	3x
Short	HTX SKR-USDT	0.02109	0.0100	get 0.0050% / 4h	2h 38m	$14K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phoenix. 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 PhoenixbpFee HTXbpOrdersPrice spread, now −1.504%Rate

Funding earned: −$135.11
Price spread: −1.504% → 0.000%: −$150.39
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$304.5
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; HTX: 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 Phoenix no order-book sample	—	—	—	—	—
Sell HTX no order-book sample	—	—	—	—	—

Phoenix and HTX: 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	0.02128	−0.617%	$243K	$163K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02103	−1.775%	$9K	$21K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02108	−1.551%	$1.3M	$788K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02111	−1.407%	$28K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02106	−1.635%	$3.6M	$12.9M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02106	−1.653%	$4.5M	$5.1M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02106	−1.625%	$1.0M	$541K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02107	−1.569%	$4.4M	$468K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02109	−1.476%	$665K	$712K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02106	−1.621%	$1.5M	$1.2M	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	0.02107	−1.616%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02104	−1.756%	$2K	$2.3M	20x	as long as short
HTX SKR-USDTshort	+0.0100%	4h	0.02109	−1.504%	$14K	$36K	20x
Backpack SKR_USDC_PERP	+0.0266%	1h	0.02106	−1.635%	$50K	$199K	5x	as long as short
Phoenix SKRlong	+0.0743%	1h	0.02141	long leg	$4K	$10K	3x