Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.003%

Price spread now: BingX against Lighter+0.210%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 6 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

The price spread pays, funding is against you. BingX is 0.210% dearer against Lighter than usual: you sell high and buy low (spread +0.210% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 27 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SKR	0.02144	0.0096	pay 0.0012% / 1h	55m 06s	$9K	$20K	3x
Short	BingX SKR-USDT	0.02149	0.0070	get 0.0035% / 4h	3h 55m	—	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now +0.210%Rate

Funding earned: −$5.46
Price spread: +0.210% → 0.000%: $20.98
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $5.52
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; BingX: 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 Lighter no order-book sample	—	—	—	—	—
Sell BingX live order book, 4 min ago	5.60 bp	33.9 bp −$34	149.6 bp −$1,496	521.0 bp −$52.1K	1010.2 bp −$505.1K

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	−0.0098%	4h	0.02149	+0.219%	$240K	$171K	20x	as long as short
BingX SKR-USDTshort	+0.0070%	4h	0.02149	+0.210%	—	$2.4M	—
Lighter SKRlong	+0.0096%	1h	0.02144	long leg	$9K	$20K	3x
Hyperliquid SKR	+0.0100%	1h	0.02149	+0.228%	$1.4M	$819K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02148	+0.140%	$28K	$38K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02146	+0.072%	$3.7M	$13.6M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02148	+0.163%	$4.5M	$477K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02149	+0.196%	$658K	$737K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02149	+0.224%	$1.5M	$1.3M	20x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02143	−0.070%	$2K	$2.3M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SKR-USDT	+0.0100%	4h	0.02150	+0.242%	$14K	$35K	20x	as long as short
Bybit SKRUSDT	+0.0204%	4h	0.02149	+0.224%	$4.6M	$5.4M	20x	as long as short
Backpack SKR_USDC_PERP	+0.0811%	1h	0.02148	+0.177%	$54K	$184K	5x	as long as short
Gate SKR_USDT	+0.1046%	4h	0.02150	+0.233%	$1.0M	$572K	20x	as long as short
Phoenix SKR	+0.1165%	1h	0.02144	−0.014%	$4K	$10K	3x	as long as short