Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.014%

Price spread now: Lighter against Bybit+0.026%7-day average — · you sell dearer than you buy

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

Long on Bybit 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.026% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread 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	Bybit IBMUSDT	231.20	0	get 0.0000% / 8h	2h 04m	$974K	$381K	50x
Short	Lighter IBM	231.26	0.0032	get 0.0004% / 1h	4m 49s	$38K	$50K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.026%Rate

Funding earned: $6.72
Price spread: +0.026% → 0.000%: $2.6
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$1.68
Costs to cover: 0.110%
Break-even: 8.8 days

Slippage unknown: Bybit: live order book, 15 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 Bybit live order book, 15 min ago	3.46 bp	16.4 bp −$16	94.8 bp −$948	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
tradeXYZ xyz:IBM	−0.0028%	1h	231.15	−0.022%	$2.0M	$812K	10x	as long as short
BloFin IBM-USDT	−0.0026%	8h	231.33	+0.056%	$46K	$52K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.03	−0.074%	$13K	$126K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.38	+0.076%	$54K	$202K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.40	+0.087%	$3.9M	$5.8M	20x	as long as short
Bybit IBMUSDTlong	0.0000%	8h	231.20	long leg	$974K	$381K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	231.36	+0.069%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.31	+0.048%	$806K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.34	+0.061%	$802K	$395K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.34	+0.063%	$256K	$15K	—	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	231.17	−0.013%	$1K	$536K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.71	+0.221%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0018%	1h	231.37	+0.074%	$1.2M	$3.2M	10x	as long as short
Lighter IBMshort	+0.0032%	1h	231.26	+0.026%	$38K	$50K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.041%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.23	+0.013%	—	—	25x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.13	−0.030%	$194K	$34K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0137%	8h	231.28	+0.035%	$789	$175K	10x	as long as short