Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.033%

Price spread now: KuCoin against Lighter−0.039%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 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

Funding pays, the price is against you. KuCoin is 0.039% cheaper against Lighter than usual: you would sell low and buy high (spread −0.039% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 46 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter IBM	232.29	0.0032	pay 0.0004% / 1h	17m 59s	$38K	$49K	10x
Short	KuCoin IBMUSDTM	232.20	0.0100	get 0.0100% / 8h	1h 17m	$195K	$46K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.039%Rate

Funding earned: $14.28
Price spread: −0.039% → 0.000%: −$3.87
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1.59
Costs to cover: 0.120%
Break-even: 7.8 days

Slippage unknown: Lighter: no order-book sample; KuCoin: live order book, 23 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 KuCoin live order book, 23 min ago	6.24 bp	467.7 bp −$468	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 IBMUSDT	0.0000%	8h	232.24	−0.024%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.23	−0.025%	$57K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.29	0.000%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.12	−0.073%	$1.0M	$355K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.22	−0.030%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.27	−0.009%	$752K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.24	−0.022%	$780K	$343K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.25	−0.017%	$257K	$14K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.23	−0.027%	$799	$165K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.07	−0.095%	$717	$474K	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	232.41	+0.052%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0001%	8h	232.30	+0.004%	$47K	$55K	20x	as long as short
Lighter IBMlong	+0.0032%	1h	232.29	long leg	$38K	$49K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.449%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.05	−0.103%	—	—	25x	as long as short
QFEX IBM-USD	+0.0049%	1h	232.20	−0.039%	$1.2M	$2.1M	10x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.92	−0.159%	$1.8M	$800K	10x	as long as short
KuCoin IBMUSDTMshort	+0.0100%	8h	232.20	−0.039%	$195K	$46K	20x