Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h +0.010%

Price spread now: Lighter against Binance−0.081%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$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

Funding pays, the price is against you. Lighter is 0.081% cheaper against Binance than usual: you would sell low and buy high (spread −0.081% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 9.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IWMUSDT	285.98	0.0002	pay 0.0002% / 8h	2h 50m	$1.1M	$1.1M	20x
Short	Lighter IWM	285.75	0.0032	get 0.0004% / 1h	50m 45s	$75K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.081%Rate

Funding earned: $6.33
Price spread: −0.081% → 0.000%: −$8.15
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$11.81
Costs to cover: 0.100%
Break-even: 20.1 days

Slippage unknown: Binance: live order book, 12 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 Binance live order book, 12 min ago	0.70 bp	9.5 bp −$9	49.4 bp −$494	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.

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
Aster IWMUSDT	0.0000%	8h	285.67	−0.110%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.55	−0.151%	$554K	$61K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.78	−0.071%	$401K	$117K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.91	−0.026%	$609K	$159K	20x	as long as short
MEXC IWM_USDT	0.0000%	8h	285.77	−0.074%	$886K	$81K	50x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.87	−0.039%	$443K	$14K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.94	−0.015%	$160K	$207K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.97	−0.005%	$1K	$467K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.83	−0.053%	$477	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.96	−0.008%	$766K	$79K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin IWM-USDT	+0.0002%	8h	286.00	+0.006%	$65K	$32K	20x	as long as short
Binance IWMUSDTlong	+0.0002%	8h	285.98	long leg	$1.1M	$1.1M	20x
Lighter IWMshort	+0.0032%	1h	285.75	−0.081%	$75K	$19K	10x
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	285.43	−0.193%	$566K	$371K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.43	−0.193%	—	—	25x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.91	−0.026%	$138K	$852K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0640%	8h	285.92	−0.022%	$286	$108K	10x	as long as short