Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h +0.003%

Price spread now: Lighter against BloFin−0.049%90s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 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 Lighter is 0.049% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin IWM-USDT	285.00	0.0063	pay 0.0063% / 8h	7h 43m	$67K	$33K	20x
Short	Lighter IWM	284.86	0.0032	get 0.0004% / 1h	43m 35s	$74K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$6.52
Price spread: −0.049% → 0.000%: −$4.91
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23.43
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: 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 BloFin no order-book sample	—	—	—	—	—
Sell Lighter no order-book sample	—	—	—	—	—

BloFin 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
Aster IWMUSDT	0.0000%	8h	284.75	−0.087%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	284.70	−0.105%	$563K	$73K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	284.82	−0.063%	$437K	$158K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	284.89	−0.039%	$601K	$163K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	284.72	−0.098%	$440K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	284.92	−0.027%	$169K	$217K	—	as long as short
GRVT IWM_USDT_Perp	0.0000%	8h	285.05	+0.019%	$687	$101K	10x	as long as short
SunX IWM-USDT	0.0000%	8h	285.07	+0.025%	$790	$461K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	284.85	−0.053%	$544	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	284.88	−0.042%	$764K	$84K	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	284.86	−0.049%	$74K	$19K	10x
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	284.56	−0.154%	$564K	$358K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	284.67	−0.116%	—	$1K	25x	as long as short
BloFin IWM-USDTlong	+0.0063%	8h	285.00	long leg	$67K	$33K	20x
Binance IWMUSDT	+0.0078%	8h	284.80	−0.070%	$1.1M	$1.2M	20x	as long as short
MEXC IWM_USDT	+0.0079%	8h	284.79	−0.074%	$880K	$83K	50x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	284.92	−0.028%	$141K	$910K	20x	as long as short