Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter against SunX−0.077%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Lighter

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. Lighter is 0.077% cheaper against SunX than usual: you would sell low and buy high (spread −0.077% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 8.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX IWM-USDT	285.97	0	get 0.0000% / 8h	2h 51m	$1K	$467K	10x
Short	Lighter IWM	285.75	0.0032	get 0.0004% / 1h	51m 28s	$75K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now −0.077%Rate

Funding earned: $6.72
Price spread: −0.077% → 0.000%: −$7.69
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$8.97
Costs to cover: 0.080%
Break-even: 16.3 days

Slippage unknown: SunX: live order book, 19 min ago; Lighter: 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 SunX live order book, 19 min ago	244.09 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

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	285.69	−0.098%	$2K	$221	20x	as long as short
Binance IWMUSDT	0.0000%	8h	285.97	−0.001%	$1.1M	$1.1M	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.55	−0.147%	$554K	$61K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.78	−0.066%	$401K	$117K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.88	−0.031%	$609K	$159K	20x	as long as short
MEXC IWM_USDT	0.0000%	8h	285.72	−0.087%	$885K	$81K	50x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.87	−0.035%	$443K	$14K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.91	−0.019%	$160K	$207K	—	as long as short
SunX IWM-USDTlong	0.0000%	8h	285.97	long leg	$1K	$467K	10x
HTX IWM-USDT	0.0000%	8h	285.83	−0.049%	$532	$37K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex IWMUSDT	0.0000%	8h	285.95	−0.007%	$766K	$79K	10x	as long as short
BloFin IWM-USDT	+0.0029%	8h	285.98	+0.003%	$65K	$32K	20x	as long as short
Lighter IWMshort	+0.0032%	1h	285.75	−0.077%	$75K	$19K	10x
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	285.43	−0.189%	$566K	$371K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.43	−0.189%	—	—	25x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.91	−0.021%	$138K	$852K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0640%	8h	285.92	−0.017%	$286	$108K	10x	as long as short