Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against Lighter−0.115%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 Bitget

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.115% cheaper against Lighter than usual: you would sell low and buy high (−$12 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	286.51	0.0032	pay 0.0004% / 1h	4m 08s	$75K	$19K	10x
Short	Bitget IWMUSDT	286.18	0	get 0.0000% / 8h	7h 04m	$442K	$16K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.115%Rate

Funding earned: −$6.72
Price spread: −0.115% → 0.000%: −$11.52
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$30.24
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; Bitget: live order book, 21 min ago. 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 Bitget live order book, 21 min ago	9.13 bp	30.2 bp −$30	43.5 bp −$435	doesn't fit	doesn't fit

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	286.06	−0.156%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	286.13	−0.133%	$567K	$73K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	286.37	−0.049%	$441K	$168K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	286.20	−0.108%	$602K	$170K	20x	as long as short
Bitget IWMUSDTshort	0.0000%	8h	286.18	−0.115%	$442K	$16K	20x
Variational Omni IWM	0.0000%	8h	286.37	−0.050%	$170K	$217K	—	as long as short
SunX IWM-USDT	0.0000%	8h	286.21	−0.105%	$899	$468K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.96	−0.192%	$535	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	286.42	−0.031%	$769K	$87K	10x	as long as short
Lighter IWMlong	+0.0032%	1h	286.51	long leg	$75K	$19K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	286.09	−0.147%	$526K	$380K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	286.12	−0.136%	—	$1K	25x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	286.01	−0.175%	$139K	$954K	20x	as long as short
MEXC IWM_USDT	+0.0104%	8h	286.24	−0.094%	$884K	$86K	50x	as long as short
Binance IWMUSDT	+0.0114%	8h	286.45	−0.023%	$1.1M	$1.2M	20x	as long as short
BloFin IWM-USDT	+0.0120%	8h	286.20	−0.108%	$67K	$34K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0403%	8h	286.15	−0.125%	$458	$103K	10x	as long as short