Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.013%

Price spread now: Lighter against Bitget−0.065%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

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 pays, the price is against you. Lighter is 0.065% cheaper against Bitget than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 6.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IBMUSDT	231.59	0	get 0.0000% / 8h	3h 51m	$786K	$337K	20x
Short	Lighter IBM	231.44	0.0032	get 0.0004% / 1h	51m 43s	$38K	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now −0.065%Rate

Funding earned: $6.72
Price spread: −0.065% → 0.000%: −$6.48
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$11.76
Costs to cover: 0.120%
Break-even: 19.2 days

Slippage unknown: Bitget: live order book, 64 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 Bitget live order book, 64 min ago	3.24 bp	21.2 bp −$21	46.9 bp −$469	doesn't fit	doesn't fit
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.

IBM on 18 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 IBM-USDT	−0.0006%	8h	231.58	−0.004%	$47K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.45	−0.062%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.53	−0.024%	$54K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.59	0.000%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.47	−0.052%	$982K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.55	−0.017%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.57	−0.009%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDTlong	0.0000%	8h	231.59	long leg	$786K	$337K	20x
Variational Omni IBM	0.0000%	8h	231.55	−0.015%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.59	−0.001%	$933	$160K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX IBM-USDT	0.0000%	8h	231.46	−0.056%	$1K	$476K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.92	+0.142%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.50	−0.039%	$1.2M	$2.3M	10x	as long as short
Lighter IBMshort	+0.0032%	1h	231.44	−0.065%	$38K	$43K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.187%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.40	−0.082%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.33	−0.112%	$1.9M	$763K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.63	+0.017%	$195K	$34K	20x	as long as short