Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Hyperliquid against SunX+0.110%7-day average +0.151% · you sell dearer than you buy

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

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.137%+$14 · spread now +0.110%, 7d avg +0.151%

Together, before fees+0.117%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 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 SunX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.151%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SKR-USDT	0.02092	0.0100	pay 0.0050% / 4h	3h 51m	$1K	$3.2M	20x
Short	Hyperliquid SKR	0.02094	0.0100	get 0.0013% / 1h	51m 48s	$1.3M	$1.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SunX. 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 SunXbpFee HyperliquidbpOrdersPrice spread, now +0.110%Rate

Funding earned: $0
Price spread: +0.110% → +0.151%: −$4.06
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$21.06
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 6 min ago; Hyperliquid: live order book, 9 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 SunX live order book, 6 min ago	500.23 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.24 bp	20.5 bp −$21	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	0.02094	+0.115%	$239K	$164K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02092	+0.029%	$8K	$26K	3x	as long as short
Hyperliquid SKRshort	+0.0100%	1h	0.02094	+0.110%	$1.3M	$1.4M	3x
Aster SKRUSDT	+0.0100%	4h	0.02093	+0.086%	$26K	$118K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02093	+0.086%	$3.7M	$27.7M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02095	+0.143%	$4.6M	$10.7M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02095	+0.153%	$990K	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02094	+0.096%	$5.0M	$808K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02091	−0.048%	$761K	$1.5M	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02094	+0.115%	$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	0.02094	+0.110%	—	$2.8M	—	as long as short
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02094	+0.110%	$52K	$211K	5x	as long as short
SunX SKR-USDTlong	+0.0100%	4h	0.02092	long leg	$1K	$3.2M	20x
HTX SKR-USDT	+0.0100%	4h	0.02093	+0.072%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0380%	1h	0.02095	+0.148%	$4K	$10K	3x	as long as short