SKR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0647%/8h= −70.9% APRnext payment −$0.81 per $10,000 · paid last 24h −0.195%

Price spread now: Lighter against Phoenix−0.684%104s7-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 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

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Lighter is 0.684% cheaper against Phoenix than usual: you would sell low and buy high (−$68 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 104 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	0.02105	0.0743	pay 0.0093% / 1h	23m 45s	$4K	$10K	3x
Short	Lighter SKR	0.02090	0.0096	get 0.0012% / 1h	23m 45s	$9K	$21K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.684%Rate

Funding earned: −$135.95
Price spread: −0.684% → 0.000%: −$68.42
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$211.38
Costs to cover: 0.070%
Break-even: never at this rate

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

Phoenix and 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 14 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
Lighter SKRshort	+0.0096%	1h	0.02090	−0.684%	$9K	$21K	3x
Hyperliquid SKR	+0.0100%	1h	0.02095	−0.461%	$1.3M	$788K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02093	−0.524%	$28K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02093	−0.525%	$3.6M	$13.0M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02093	−0.537%	$4.5M	$5.2M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02096	−0.423%	$1.0M	$545K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02095	−0.466%	$4.3M	$470K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02094	−0.508%	$660K	$718K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02095	−0.461%	$1.5M	$1.2M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02095	−0.470%	—	$2.4M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKR-USDT	+0.0100%	4h	0.02091	−0.627%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02098	−0.314%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0164%	1h	0.02093	−0.542%	$52K	$199K	5x	as long as short
Phoenix SKRlong	+0.0743%	1h	0.02105	long leg	$4K	$10K	3x