Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.003%

Price spread now: BingX against Lighter+0.228%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 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: BingX is 0.228% dearer against Lighter than usual: you sell high and buy low, +$23 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	Lighter SKR	0.02107	0.0096	pay 0.0012% / 1h	31m 47s	$14K	$17K	3x
Short	BingX SKR-USDT	0.02111	0.0100	get 0.0050% / 4h	3h 31m	—	$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 +0.228%Rate

Funding earned: $0.84
Price spread: +0.228% → 0.000%: $22.79
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $13.63
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; BingX: live order book, 12 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, 12 min ago	6.45 bp	28.7 bp −$29	133.1 bp −$1,331	657.3 bp −$65.7K	994.2 bp −$497.1K

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	−0.0140%	4h	0.02108	+0.062%	$235K	$147K	20x	as long as short
Lighter SKRlong	+0.0096%	1h	0.02107	long leg	$14K	$17K	3x
Hyperliquid SKR	+0.0100%	1h	0.02112	+0.271%	$1.3M	$725K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02108	+0.087%	$27K	$32K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02111	+0.209%	$3.5M	$11.4M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02108	+0.095%	$4.6M	$4.7M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02109	+0.114%	$1.0M	$524K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02110	+0.180%	$4.4M	$478K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02111	+0.218%	$683K	$687K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02111	+0.209%	$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-USDTshort	+0.0100%	4h	0.02111	+0.228%	—	$2.4M	—
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02108	+0.090%	$50K	$240K	5x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02104	−0.114%	$1K	$2.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02105	−0.095%	$14K	$37K	20x	as long as short
Phoenix SKR	+0.0378%	1h	0.02106	−0.024%	$4K	$10K	3x	as long as short