Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.020%

Price spread now: Lighter against KuCoin+0.154%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.125%−$13 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

The price spread pays, funding is against you. Lighter is 0.154% dearer against KuCoin than usual: you sell high and buy low (spread +0.154% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IWMUSDTM	285.81	0.0100	pay 0.0100% / 8h	49m 03s	$140K	$860K	20x
Short	Lighter IWM	286.25	0.0032	get 0.0004% / 1h	49m 03s	$75K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.154%Rate

Funding earned: −$14.28
Price spread: +0.154% → 0.000%: $15.39
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$10.89
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 35 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 KuCoin live order book, 35 min ago	2.45 bp	235.8 bp −$236	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.

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	−0.0100%	1h	285.42	−0.136%	$566K	$358K	20x	as long as short
Aster IWMUSDT	0.0000%	8h	285.71	−0.036%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.62	−0.066%	$558K	$60K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.32	−0.171%	$437K	$160K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.76	−0.017%	$608K	$157K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.75	−0.021%	$442K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.71	−0.033%	$160K	$207K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.48	−0.115%	$919	$454K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.59	−0.077%	$531	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.72	−0.031%	$765K	$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	286.25	+0.154%	$75K	$19K	10x
Vest IWM-USD-PERP	+0.0046%	1h	285.54	−0.094%	—	—	25x	as long as short
BloFin IWM-USDT	+0.0059%	8h	285.74	−0.024%	$67K	$33K	20x	as long as short
MEXC IWM_USDT	+0.0072%	8h	285.77	−0.014%	$883K	$83K	50x	as long as short
Binance IWMUSDT	+0.0073%	8h	285.75	−0.021%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTMlong	+0.0100%	8h	285.81	long leg	$140K	$860K	20x
GRVT IWM_USDT_Perp	+0.0516%	8h	285.76	−0.018%	$986	$103K	10x	as long as short