Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.012%

Price spread now: OKX against Lighter−0.043%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 OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.043% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter IBM	232.32	0.0032	pay 0.0004% / 1h	13m 23s	$38K	$49K	10x
Short	OKX IBM-USDT-SWAP	232.22	0	get 0.0000% / 8h	13m 23s	$1.4M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$6.72
Price spread: −0.043% → 0.000%: −$4.3
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$21.02
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	1.94 bp	15.1 bp −$15	179.9 bp −$1,799	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	232.13	−0.080%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.17	−0.063%	$53K	$311K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.25	−0.030%	$3.8M	$5.6M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.05	−0.116%	$1.0M	$350K	50x	as long as short
OKX IBM-USDT-SWAPshort	0.0000%	8h	232.22	−0.043%	$1.4M	$1.2M	20x
Gate IBM_USDT	0.0000%	8h	232.21	−0.047%	$743K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.21	−0.047%	$780K	$348K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.17	−0.066%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.18	−0.060%	$539	$167K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.10	−0.095%	$873	$472K	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	232.57	+0.108%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0013%	8h	232.19	−0.056%	$47K	$59K	20x	as long as short
Lighter IBMlong	+0.0032%	1h	232.32	long leg	$38K	$49K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.460%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0043%	1h	232.13	−0.082%	$1.2M	$2.1M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.02	−0.129%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.96	−0.155%	$1.8M	$797K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.17	−0.065%	$194K	$55K	20x	as long as short