Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Bybit−0.252%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Lighter

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 airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.252% cheaper against Bybit than usual: you would sell low and buy high, −$25 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SKRUSDT	0.02104	0.0100	pay 0.0050% / 4h	49m 11s	$4.5M	$4.9M	20x
Short	Lighter SKR	0.02099	0.0096	get 0.0012% / 1h	49m 11s	$14K	$16K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.252%Rate

Funding earned: −$0.84
Price spread: −0.252% → 0.000%: −$25.19
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$37.03
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; Lighter: 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 Bybit live order book, 4 min ago	1.19 bp	35.7 bp −$36	129.8 bp −$1,298	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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	0.02106	+0.071%	$234K	$153K	20x	as long as short
Lighter SKRshort	+0.0096%	1h	0.02099	−0.252%	$14K	$16K	3x
Hyperliquid SKR	+0.0100%	1h	0.02105	+0.033%	$1.3M	$740K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02105	+0.052%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02104	−0.010%	$3.5M	$12.1M	20x	as long as short
Bybit SKRUSDTlong	+0.0100%	4h	0.02104	long leg	$4.5M	$4.9M	20x
Gate SKR_USDT	+0.0100%	4h	0.02106	+0.095%	$1.0M	$528K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02104	−0.010%	$4.4M	$462K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02107	+0.109%	$677K	$685K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02104	−0.014%	$1.5M	$1.1M	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	0.02104	−0.005%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02100	−0.214%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02109	+0.204%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0286%	1h	0.02109	+0.200%	$53K	$213K	5x	as long as short
Phoenix SKR	+0.0755%	1h	0.02106	+0.081%	$4K	$10K	3x	as long as short