Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.020%

Price spread now: KuCoin against Lighter+0.080%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on KuCoin

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.080% dearer against Lighter than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter IWM	285.75	0.0032	pay 0.0004% / 1h	4m 54s	$75K	$19K	10x
Short	KuCoin IWMUSDTM	285.98	0.0100	get 0.0100% / 8h	2h 04m	$138K	$849K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.080%Rate

Funding earned: $14.28
Price spread: +0.080% → 0.000%: $8.05
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $10.33
Costs to cover: 0.120%
Break-even: 1.9 days

Slippage unknown: Lighter: no order-book sample; KuCoin: live order book, 34 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 KuCoin live order book, 34 min ago	2.97 bp	297.0 bp −$297	doesn't fit	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	285.78	+0.011%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.63	−0.042%	$557K	$62K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.74	−0.003%	$400K	$120K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.88	+0.045%	$610K	$163K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.81	+0.021%	$443K	$15K	20x	as long as short
SunX IWM-USDT	0.0000%	8h	286.05	+0.105%	$1K	$458K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.63	−0.042%	$657	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	286.01	+0.091%	$766K	$80K	10x	as long as short
Variational Omni IWM	+0.0007%	8h	285.97	+0.079%	$160K	$207K	—	as long as short
Lighter IWMlong	+0.0032%	1h	285.75	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	285.41	−0.119%	$566K	$363K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.56	−0.066%	—	—	25x	as long as short
BloFin IWM-USDT	+0.0052%	8h	286.05	+0.105%	$64K	$33K	20x	as long as short
MEXC IWM_USDT	+0.0072%	8h	285.85	+0.035%	$886K	$84K	50x	as long as short
Binance IWMUSDT	+0.0076%	8h	286.01	+0.092%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTMshort	+0.0100%	8h	285.98	+0.080%	$138K	$849K	20x
GRVT IWM_USDT_Perp	+0.0694%	8h	285.99	+0.084%	$286	$107K	10x	as long as short