Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: HTX against Lighter−0.273%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 HTX

What this pair did over the last

the charts below follow

Funding, last 5 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 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.273% cheaper against Lighter than usual: you would sell low and buy high (−$27 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	286.10	0.0032	pay 0.0004% / 1h	18m 40s	$75K	$19K	10x
Short	HTX IWM-USDT	285.32	0	get 0.0000% / 8h	1h 18m	$688	$37K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.273%Rate

Funding earned: −$6.72
Price spread: −0.273% → 0.000%: −$27.26
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$45.98
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; HTX: 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 HTX no order-book sample	—	—	—	—	—

Lighter and HTX: 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	285.57	−0.185%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.46	−0.224%	$557K	$60K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.32	−0.273%	$437K	$160K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.75	−0.122%	$608K	$161K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.68	−0.147%	$442K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.71	−0.136%	$160K	$207K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.44	−0.231%	$1K	$454K	10x	as long as short
HTX IWM-USDTshort	0.0000%	8h	285.32	−0.273%	$688	$37K	20x
Phemex IWMUSDT	0.0000%	8h	285.71	−0.136%	$765K	$81K	10x	as long as short
Lighter IWMlong	+0.0032%	1h	286.10	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	285.42	−0.238%	$566K	$363K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.47	−0.220%	—	—	25x	as long as short
MEXC IWM_USDT	+0.0073%	8h	285.72	−0.133%	$885K	$84K	50x	as long as short
Binance IWMUSDT	+0.0073%	8h	285.71	−0.136%	$1.1M	$1.2M	20x	as long as short
BloFin IWM-USDT	+0.0084%	8h	285.78	−0.112%	$67K	$33K	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.69	−0.143%	$140K	$847K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0593%	8h	285.71	−0.136%	$557	$104K	10x	as long as short