Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: HTX against Lighter+0.121%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 HTX

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

The price spread pays, funding is against you. HTX is 0.121% dearer against Lighter than usual: you sell high and buy low (spread +0.121% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter IBM	231.54	0.0032	pay 0.0004% / 1h	15m 50s	$38K	$47K	10x
Short	HTX IBM-USDT	231.82	0	get 0.0000% / 8h	15m 50s	$5K	$34K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.121%Rate

Funding earned: −$6.72
Price spread: +0.121% → 0.000%: $12.09
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$6.63
Costs to cover: 0.120%
Break-even: from the start

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

Lighter and HTX: 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	231.81	+0.117%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.42	−0.052%	$976K	$376K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.50	−0.017%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.52	−0.009%	$797K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.61	+0.030%	$798K	$403K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.57	+0.014%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.31	−0.099%	$1K	$535K	10x	as long as short
HTX IBM-USDTshort	0.0000%	8h	231.82	+0.121%	$5K	$34K	20x
QFEX IBM-USD	+0.0031%	1h	231.48	−0.026%	$1.2M	$3.3M	10x	as long as short
Lighter IBMlong	+0.0032%	1h	231.54	long leg	$38K	$47K	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	−13.168%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.40	−0.060%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.38	−0.069%	$2.0M	$814K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.45	−0.039%	$194K	$34K	20x	as long as short
Extended IBM-USD	+0.0184%	1h	231.56	+0.007%	$54K	$202K	10x	as long as short
Binance IBMUSDT	+0.0189%	8h	231.59	+0.022%	$3.9M	$5.8M	20x	as long as short
BloFin IBM-USDT	+0.0191%	8h	231.64	+0.043%	$46K	$52K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0427%	8h	231.54	0.000%	$621	$170K	10x	as long as short