Funding arb · Price arb /

IWM

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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 +0.010%

Price spread now: Lighter against Aster+0.215%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Lighter: 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 0.215% dearer against Aster than usual: you sell high and buy low: +$21 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	Aster IWMUSDT	285.65	0	get 0.0000% / 8h	40m 36s	$2K	$221	20x
Short	Lighter IWM	286.26	0.0032	get 0.0004% / 1h	40m 36s	$75K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.215%Rate

Funding earned: $6.72
Price spread: +0.215% → 0.000%: $21.49
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $20.21
Costs to cover: 0.080%
Break-even: from the start

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

Aster and 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.

IWM on 17 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
Markets by Kinetiq mkts:SMALL2000	−0.0079%	1h	285.36	−0.100%	$566K	$358K	20x	as long as short
Aster IWMUSDTlong	0.0000%	8h	285.65	long leg	$2K	$221	20x
Bybit IWMUSDT	0.0000%	8h	285.52	−0.044%	$557K	$61K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.76	+0.040%	$438K	$159K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.74	+0.033%	$607K	$158K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.73	+0.029%	$442K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.72	+0.027%	$160K	$207K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.48	−0.058%	$968	$455K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.78	+0.047%	$432	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.76	+0.040%	$766K	$81K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWMshort	+0.0032%	1h	286.26	+0.215%	$75K	$19K	10x
BloFin IWM-USDT	+0.0044%	8h	285.78	+0.047%	$67K	$33K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.51	−0.048%	—	—	25x	as long as short
MEXC IWM_USDT	+0.0068%	8h	285.73	+0.029%	$883K	$84K	50x	as long as short
Binance IWMUSDT	+0.0069%	8h	285.74	+0.033%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.79	+0.050%	$140K	$867K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0498%	8h	285.71	+0.021%	$986	$103K	10x	as long as short