Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.014%

Price spread now: Lighter against OKX+0.052%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Lighter

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 for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.052% dearer against OKX than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IBM-USDT-SWAP	231.31	0	get 0.0000% / 8h	1h 07m	$1.4M	$1.2M	20x
Short	Lighter IBM	231.43	0.0032	get 0.0004% / 1h	7m 41s	$38K	$50K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.052%Rate

Funding earned: $6.72
Price spread: +0.052% → 0.000%: $5.19
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $1.91
Costs to cover: 0.100%
Break-even: 5.0 days

Slippage unknown: OKX: live order book, 4 min ago; Lighter: 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 OKX live order book, 4 min ago	1.30 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

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	231.17	−0.060%	$13K	$126K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.24	−0.030%	$976K	$381K	50x	as long as short
OKX IBM-USDT-SWAPlong	0.0000%	8h	231.31	long leg	$1.4M	$1.2M	20x
Gate IBM_USDT	0.0000%	8h	231.35	+0.017%	$812K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.32	+0.004%	$798K	$396K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.31	+0.002%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.15	−0.069%	$791	$535K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.70	+0.169%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0016%	1h	231.31	0.000%	$1.2M	$3.2M	10x	as long as short
BloFin IBM-USDT	+0.0023%	8h	231.34	+0.013%	$46K	$52K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IBMshort	+0.0032%	1h	231.43	+0.052%	$38K	$50K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.082%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.20	−0.048%	—	—	25x	as long as short
Extended IBM-USD	+0.0048%	1h	231.29	−0.009%	$54K	$202K	10x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.17	−0.061%	$2.0M	$808K	10x	as long as short
Binance IBMUSDT	+0.0052%	8h	231.34	+0.013%	$3.9M	$5.8M	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.21	−0.043%	$194K	$34K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0318%	8h	231.38	+0.029%	$185	$172K	10x	as long as short