SKR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0281%/8h= −30.8% APRnext payment −$0.35 per $10,000 · paid last 24h −0.213%

Price spread now: Lighter against Phoenix−0.147%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 −$8 a day on $10k at the current rate, and Lighter is 0.147% cheaper against Phoenix than usual: you would sell low and buy high (−$15 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	0.02112	0.0377	pay 0.0047% / 1h	15m 39s	$4K	$10K	3x
Short	Lighter SKR	0.02108	0.0096	get 0.0012% / 1h	15m 39s	$8K	$26K	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 −0.147%Rate

Funding earned: −$59.07
Price spread: −0.147% → 0.000%: −$14.68
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$80.75
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 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	0.02106	−0.260%	$239K	$165K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0052%	1h	0.02107	−0.199%	$53K	$211K	5x	as long as short
Lighter SKRshort	+0.0096%	1h	0.02108	−0.147%	$8K	$26K	3x
Hyperliquid SKR	+0.0100%	1h	0.02107	−0.194%	$1.4M	$1.4M	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02108	−0.150%	$25K	$117K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02108	−0.170%	$3.7M	$27.1M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02110	−0.095%	$4.8M	$10.4M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02109	−0.123%	$998K	$1.6M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02107	−0.242%	$5.0M	$832K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02106	−0.260%	$639K	$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	0.02109	−0.137%	$1.6M	$3.5M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02109	−0.104%	—	$2.8M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02106	−0.260%	$2K	$3.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02108	−0.156%	$14K	$40K	20x	as long as short
Phoenix SKRlong	+0.0377%	1h	0.02112	long leg	$4K	$10K	3x