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: Aster against Lighter+0.029%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Aster

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 · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.029% dearer against Lighter than usual: you sell high and buy low (spread +0.029% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter IBM	231.84	0.0032	pay 0.0004% / 1h	2m 35s	$38K	$43K	10x
Short	Aster IBMUSDT	231.91	0	get 0.0000% / 8h	3h 02m	$13K	$127K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$6.72
Price spread: +0.029% → 0.000%: $2.86
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$11.86
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; Aster: live order book, 48 min ago. 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 Lighter no order-book sample	—	—	—	—	—
Sell Aster live order book, 48 min ago	24.41 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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 IBMUSDTshort	0.0000%	8h	231.91	+0.029%	$13K	$127K	20x
Extended IBM-USD	0.0000%	1h	231.93	+0.039%	$53K	$234K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.99	+0.065%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.91	+0.030%	$984K	$336K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.94	+0.043%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.03	+0.082%	$804K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.78	−0.026%	$787K	$323K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.00	+0.069%	$257K	$14K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.99	+0.063%	$72	$162K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.78	−0.026%	$946	$477K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IBM-USDT	0.0000%	8h	231.88	+0.017%	$6K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0013%	8h	232.04	+0.086%	$47K	$52K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.90	+0.026%	$1.2M	$2.2M	10x	as long as short
Lighter IBMlong	+0.0032%	1h	231.84	long leg	$38K	$43K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.281%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.84	0.000%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.70	−0.060%	$1.9M	$769K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.93	+0.039%	$195K	$35K	20x	as long as short