SKR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1402%/8h= −153.5% APRnext payment −$1.75 per $10,000 · paid last 24h −0.191%

Price spread now: Hyperliquid against Phoenix−0.074%7-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 Hyperliquid

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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$42 a day on $10k at the current rate, and Hyperliquid is 0.074% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SKR	0.02162	0.1502	pay 0.0188% / 1h	6m 39s	$4K	$10K	3x
Short	Hyperliquid SKR	0.02160	0.0100	get 0.0013% / 1h	6m 39s	$1.4M	$717K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$294.43
Price spread: −0.074% → 0.000%: −$7.4
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$317.84
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Hyperliquid: live order book, 4 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 Phoenix no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 4 min ago	0.23 bp	22.8 bp −$23	doesn't fit	doesn't fit	doesn't fit

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	−0.019%	$242K	$160K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02156	−0.278%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02155	−0.315%	$9K	$22K	3x	as long as short
Hyperliquid SKRshort	+0.0100%	1h	0.02160	−0.074%	$1.4M	$717K	3x
Aster SKRUSDT	+0.0100%	4h	0.02158	−0.149%	$27K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02159	−0.137%	$3.7M	$12.6M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02157	−0.222%	$4.6M	$5.1M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02158	−0.148%	$4.5M	$467K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02159	−0.102%	$698K	$690K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02159	−0.134%	$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
SunX SKR-USDT	+0.0100%	4h	0.02160	−0.074%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02163	+0.083%	$14K	$36K	20x	as long as short
Gate SKR_USDT	+0.0162%	4h	0.02158	−0.162%	$1.0M	$533K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0686%	1h	0.02164	+0.102%	$54K	$196K	5x	as long as short
Phoenix SKRlong	+0.1502%	1h	0.02162	long leg	$4K	$10K	3x