Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.010%

Price spread now: MEXC against Lighter−0.147%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 MEXC

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

Funding pays, the price is against you. MEXC is 0.147% cheaper against Lighter than usual: you would sell low and buy high (spread −0.147% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 11 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.067%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter IWM	286.08	0.0032	pay 0.0004% / 1h	29m 46s	$75K	$19K	10x
Short	MEXC IWM_USDT	285.66	0.0076	get 0.0076% / 8h	1h 29m	$885K	$83K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.147%Rate

Funding earned: $9.24
Price spread: −0.147% → 0.000%: −$14.68
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$5.44
Costs to cover: 0.000%
Break-even: 11.1 days

Slippage unknown: Lighter: no order-book sample; MEXC: live order book, 6 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 MEXC live order book, 6 min ago	0.17 bp	1.8 bp −$2	113.2 bp −$1,132	210.0 bp −$21.0K	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	285.53	−0.191%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.43	−0.227%	$557K	$60K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.32	−0.266%	$437K	$160K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.65	−0.150%	$608K	$160K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.70	−0.133%	$442K	$15K	20x	as long as short
SunX IWM-USDT	0.0000%	8h	285.29	−0.276%	$956	$455K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.70	−0.133%	$771	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.69	−0.136%	$765K	$81K	10x	as long as short
Variational Omni IWM	+0.0004%	8h	285.59	−0.173%	$160K	$207K	—	as long as short
Lighter IWMlong	+0.0032%	1h	286.08	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	285.40	−0.238%	$566K	$363K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.41	−0.234%	—	—	25x	as long as short
MEXC IWM_USDTshort	+0.0076%	8h	285.66	−0.147%	$885K	$83K	50x
Binance IWMUSDT	+0.0076%	8h	285.66	−0.147%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.70	−0.133%	$139K	$846K	20x	as long as short
BloFin IWM-USDT	+0.0106%	8h	285.68	−0.140%	$65K	$33K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0626%	8h	285.64	−0.153%	$1K	$104K	10x	as long as short