Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.005%

Price spread now: Lighter against BingX−0.062%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Lighter

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.062% cheaper against BingX than usual: you would sell low and buy high, −$6 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	BingX SKR-USDT	0.02111	0.0100	pay 0.0050% / 4h	1h 11m	—	$2.8M	—
Short	Lighter SKR	0.02110	0.0096	get 0.0012% / 1h	11m 29s	$8K	$26K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpFee LighterbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$0.84
Price spread: −0.062% → 0.000%: −$6.16
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$17
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 8 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 BingX live order book, 8 min ago	4.73 bp	20.8 bp −$21	86.8 bp −$868	485.0 bp −$48.5K	950.2 bp −$475.1K
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	0.02105	−0.303%	$240K	$165K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0041%	1h	0.02111	−0.009%	$53K	$211K	5x	as long as short
Lighter SKRshort	+0.0096%	1h	0.02110	−0.062%	$8K	$26K	3x
Hyperliquid SKR	+0.0100%	1h	0.02109	−0.109%	$1.4M	$1.4M	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02109	−0.127%	$25K	$117K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02110	−0.049%	$3.7M	$27.1M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02111	+0.005%	$4.8M	$10.4M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02110	−0.081%	$999K	$1.6M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02109	−0.095%	$5.0M	$832K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02109	−0.118%	$641K	$1.4M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKRUSDT	+0.0100%	4h	0.02110	−0.066%	$1.6M	$3.5M	20x	as long as short
BingX SKR-USDTlong	+0.0100%	4h	0.02111	long leg	—	$2.8M	—
SunX SKR-USDT	+0.0100%	4h	0.02106	−0.237%	$1K	$3.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02108	−0.175%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0377%	1h	0.02107	−0.194%	$4K	$10K	3x	as long as short