Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.014%

Price spread now: Lighter against HTX−0.155%7-day average — · you buy dearer than you sell

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

Long on HTX 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

Funding pays, the price is against you. Lighter is 0.155% cheaper against HTX than usual: you would sell low and buy high (spread −0.155% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 16 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	HTX IBM-USDT	231.76	0	get 0.0000% / 8h	1h 20m	$5K	$34K	20x
Short	Lighter IBM	231.40	0.0032	get 0.0004% / 1h	20m 15s	$38K	$50K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now −0.155%Rate

Funding earned: $6.72
Price spread: −0.155% → 0.000%: −$15.53
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.81
Costs to cover: 0.120%
Break-even: 28.7 days

Slippage unknown: HTX: 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 HTX no order-book sample	—	—	—	—	—
Sell Lighter no order-book sample	—	—	—	—	—

HTX 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.

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
Aster IBMUSDT	0.0000%	8h	231.37	−0.168%	$13K	$126K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.19	−0.246%	$975K	$382K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.30	−0.198%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.31	−0.194%	$812K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.43	−0.142%	$798K	$395K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.32	−0.189%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.23	−0.229%	$758	$536K	10x	as long as short
HTX IBM-USDTlong	0.0000%	8h	231.76	long leg	$5K	$34K	20x
QFEX IBM-USD	+0.0016%	1h	231.32	−0.190%	$1.2M	$3.2M	10x	as long as short
Lighter IBMshort	+0.0032%	1h	231.40	−0.155%	$38K	$50K	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IBM-USD	+0.0032%	1h	231.34	−0.180%	$54K	$202K	10x	as long as short
Binance IBMUSDT	+0.0032%	8h	231.39	−0.162%	$3.9M	$5.8M	20x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.251%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.22	−0.233%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.20	−0.242%	$2.0M	$814K	10x	as long as short
BloFin IBM-USDT	+0.0059%	8h	231.36	−0.173%	$46K	$52K	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.24	−0.224%	$194K	$34K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0296%	8h	231.41	−0.151%	$902	$172K	10x	as long as short