Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.044%

Price spread now: BloFin against Lighter+0.042%60s7-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 BloFin

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. BloFin is 0.042% dearer against Lighter than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 14 hours. The two prices were read 60 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	Lighter SKR	0.02160	0.0096	pay 0.0012% / 1h	6m 07s	$9K	$20K	3x
Short	BloFin SKR-USDT	0.02161	−0.0140	pay 0.0070% / 4h	3h 06m	$243K	$170K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$49.56
Price spread: +0.042% → 0.000%: $4.17
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$57.39
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; BloFin: live order book, 15 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 BloFin live order book, 15 min ago	3.70 bp	35.0 bp −$35	doesn't fit	doesn't fit	doesn't fit

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-USDTshort	−0.0140%	4h	0.02161	+0.042%	$243K	$170K	20x
Lighter SKRlong	+0.0096%	1h	0.02160	long leg	$9K	$20K	3x
Hyperliquid SKR	+0.0100%	1h	0.02165	+0.241%	$1.4M	$812K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02162	+0.084%	$30K	$38K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02164	+0.206%	$3.7M	$13.9M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02165	+0.236%	$4.6M	$5.4M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02164	+0.176%	$4.5M	$482K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02160	+0.019%	$663K	$738K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02166	+0.259%	$1.6M	$1.4M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02164	+0.199%	—	$2.4M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKR-USDT	+0.0100%	4h	0.02157	−0.139%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02161	+0.069%	$14K	$34K	20x	as long as short
Gate SKR_USDT	+0.0322%	4h	0.02165	+0.231%	$1.0M	$582K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0674%	1h	0.02163	+0.148%	$52K	$164K	5x	as long as short
Phoenix SKR	+0.0747%	1h	0.02160	0.000%	$4K	$10K	3x	as long as short