Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0021%/8h= +2.2% APRpaid last 24h +0.010%

Price spread now: Lighter against Variational Omni+0.158%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.158% dearer against Variational Omni than usual: you sell high and buy low: +$16 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	Variational Omni IWM	285.59	0.0011	pay 0.0011% / 8h	1h 31m	$160K	$207K	—
Short	Lighter IWM	286.04	0.0032	get 0.0004% / 1h	31m 49s	$75K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.158%Rate

Funding earned: $4.31
Price spread: +0.158% → 0.000%: $15.76
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $20.07
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 12 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 Variational Omni RFQ quote, 12 min ago	2.08 bp	doesn't fit	84.3 bp −$843	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	285.46	−0.045%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.36	−0.081%	$557K	$60K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.32	−0.095%	$437K	$160K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.65	+0.021%	$608K	$160K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.72	+0.046%	$442K	$15K	20x	as long as short
SunX IWM-USDT	0.0000%	8h	285.39	−0.070%	$908	$455K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.70	+0.039%	$709	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.70	+0.039%	$765K	$81K	10x	as long as short
Variational Omni IWMlong	+0.0011%	8h	285.59	long leg	$160K	$207K	—
Lighter IWMshort	+0.0032%	1h	286.04	+0.158%	$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	285.35	−0.084%	$566K	$363K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.35	−0.084%	—	—	25x	as long as short
BloFin IWM-USDT	+0.0059%	8h	285.68	+0.032%	$65K	$33K	20x	as long as short
MEXC IWM_USDT	+0.0077%	8h	285.63	+0.014%	$885K	$82K	50x	as long as short
Binance IWMUSDT	+0.0077%	8h	285.63	+0.016%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.67	+0.028%	$140K	$847K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0643%	8h	285.69	+0.035%	$297	$104K	10x	as long as short