Funding arb · Price arb /

IWM

RWAall IWM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Aster against Lighter−0.225%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Aster

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 airdropLighter: Season 3 · Aster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.225% cheaper against Lighter than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter IWM	285.47	0.0032	pay 0.0004% / 1h	50m 40s	$74K	$19K	10x
Short	Aster IWMUSDT	284.83	0	get 0.0000% / 8h	7h 50m	$2K	$221	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.225%Rate

Funding earned: −$6.72
Price spread: −0.225% → 0.000%: −$22.45
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$37.17
Costs to cover: 0.080%
Break-even: never at this rate

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

Lighter and Aster: 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 IWMUSDTshort	0.0000%	8h	284.83	−0.225%	$2K	$221	20x
Bybit IWMUSDT	0.0000%	8h	284.77	−0.245%	$560K	$69K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.00	−0.165%	$437K	$158K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.02	−0.158%	$606K	$158K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	284.94	−0.186%	$441K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	284.97	−0.176%	$169K	$217K	—	as long as short
GRVT IWM_USDT_Perp	0.0000%	8h	285.07	−0.140%	$485	$102K	10x	as long as short
SunX IWM-USDT	0.0000%	8h	284.94	−0.186%	$667	$461K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	284.48	−0.347%	$541	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.09	−0.133%	$764K	$83K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWMlong	+0.0032%	1h	285.47	long leg	$74K	$19K	10x
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	284.66	−0.284%	$564K	$358K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	284.73	−0.259%	—	$1K	25x	as long as short
Binance IWMUSDT	+0.0084%	8h	284.99	−0.167%	$1.1M	$1.2M	20x	as long as short
MEXC IWM_USDT	+0.0085%	8h	284.90	−0.200%	$880K	$83K	50x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	284.99	−0.168%	$141K	$909K	20x	as long as short
BloFin IWM-USDT	+0.0103%	8h	285.02	−0.158%	$67K	$33K	20x	as long as short