Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.007%

Price spread now: Gate against Lighter+0.017%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 Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter IBM	231.51	0.0032	pay 0.0004% / 1h	32m 54s	$38K	$43K	10x
Short	Gate IBM_USDT	231.55	0	get 0.0000% / 8h	5h 32m	$799K	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.017%Rate

Funding earned: −$6.72
Price spread: +0.017% → 0.000%: $1.73
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$19.99
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; Gate: live order book, 4 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 Gate live order book, 4 min ago	2.38 bp	17.8 bp −$18	201.5 bp −$2,015	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 IBMUSDT	0.0000%	8h	231.44	−0.032%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.44	−0.030%	$974K	$346K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.47	−0.017%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDTshort	0.0000%	8h	231.55	+0.017%	$799K	$1.4M	50x
Bitget IBMUSDT	0.0000%	8h	231.57	+0.026%	$789K	$338K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.53	+0.009%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.31	−0.086%	$766	$487K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.91	+0.173%	$5K	$33K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0003%	8h	231.53	+0.007%	$519	$158K	10x	as long as short
Lighter IBMlong	+0.0032%	1h	231.51	long leg	$38K	$43K	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.157%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0035%	1h	231.48	−0.013%	$1.2M	$2.7M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.36	−0.065%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.36	−0.065%	$1.9M	$726K	10x	as long as short
BloFin IBM-USDT	+0.0059%	8h	231.57	+0.026%	$47K	$52K	20x	as long as short
Binance IBMUSDT	+0.0062%	8h	231.57	+0.027%	$3.9M	$5.3M	20x	as long as short
Extended IBM-USD	+0.0064%	1h	231.50	−0.004%	$53K	$238K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.51	0.000%	$194K	$33K	20x	as long as short