Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0194%/8h= −21.2% APRpaid last 24h +0.005%

Price spread now: Lighter against BingX−0.180%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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Lighter is 0.180% cheaper against BingX than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SKR-USDT	0.02164	0.0290	pay 0.0145% / 4h	3h 21m	—	$2.4M	—
Short	Lighter SKR	0.02160	0.0096	get 0.0012% / 1h	21m 13s	$9K	$20K	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

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 BingXbpFee LighterbpOrdersPrice spread, now −0.180%Rate

Funding earned: −$40.74
Price spread: −0.180% → 0.000%: −$18.02
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$68.76
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 13 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, 13 min ago	5.54 bp	39.0 bp −$39	170.7 bp −$1,707	518.8 bp −$51.9K	989.9 bp −$494.9K
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	−0.0072%	4h	0.02166	+0.079%	$242K	$172K	20x	as long as short
Lighter SKRshort	+0.0096%	1h	0.02160	−0.180%	$9K	$20K	3x
Hyperliquid SKR	+0.0100%	1h	0.02165	+0.042%	$1.4M	$818K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02165	+0.019%	$30K	$38K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02165	+0.017%	$3.7M	$13.8M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02164	−0.009%	$4.5M	$480K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02165	+0.042%	$665K	$736K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02165	+0.032%	$1.5M	$1.4M	20x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02160	−0.213%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02164	+0.005%	$14K	$34K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SKRUSDT	+0.0108%	4h	0.02166	+0.060%	$4.6M	$5.4M	20x	as long as short
BingX SKR-USDTlong	+0.0290%	4h	0.02164	long leg	—	$2.4M	—
Gate SKR_USDT	+0.0362%	4h	0.02166	+0.065%	$1.1M	$579K	20x	as long as short
Phoenix SKR	+0.0747%	1h	0.02179	+0.693%	$4K	$10K	3x	as long as short
Backpack SKR_USDC_PERP	+0.0784%	1h	0.02163	−0.042%	$52K	$165K	5x	as long as short