Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bybit against Lighter+0.095%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 Bybit

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: Bybit is 0.095% dearer against Lighter than usual: you sell high and buy low, +$9 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	0.02116	0.0096	pay 0.0012% / 1h	2m 17s	$8K	$30K	3x
Short	Bybit SKRUSDT	0.02118	0.0100	get 0.0050% / 4h	2h 02m	$4.8M	$10.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.095%Rate

Funding earned: $0.77
Price spread: +0.095% → 0.000%: $9.45
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$0.77
Costs to cover: 0.110%
Break-even: 14.0 days

Slippage unknown: Lighter: no order-book sample; Bybit: live order book, 1 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 Bybit live order book, 1 min ago	1.88 bp	47.8 bp −$48	319.8 bp −$3,198	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-USDT	−0.0151%	4h	0.02134	+0.874%	$254K	$166K	20x	as long as short
Backpack SKR_USDC_PERP	−0.0083%	1h	0.02132	+0.761%	$53K	$206K	5x	as long as short
Hyperliquid SKR	−0.0071%	1h	0.02120	+0.189%	$1.3M	$1.4M	3x	as long as short
Lighter SKRlong	+0.0096%	1h	0.02116	long leg	$8K	$30K	3x
Bybit SKRUSDTshort	+0.0100%	4h	0.02118	+0.095%	$4.8M	$10.0M	20x
Aster SKRUSDT	+0.0100%	4h	0.02120	+0.187%	$25K	$117K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02118	+0.095%	$3.9M	$26.0M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02120	+0.213%	$1.0M	$1.6M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02120	+0.189%	$5.1M	$820K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02120	+0.227%	$696K	$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	0.02119	+0.165%	$1.6M	$3.4M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02116	+0.038%	—	$2.8M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02116	+0.043%	$2K	$3.1M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02137	+1.016%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0735%	1h	0.02124	+0.392%	$4K	$10K	3x	as long as short