Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.028%

Price spread now: Lighter against BloFin−0.073%90s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Lighter

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

Funding pays, the price is against you. Lighter is 0.073% cheaper against BloFin than usual: you would sell low and buy high (spread −0.073% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 20 days of funding at the current rate ($0 a day). The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin IBM-USDT	231.62	0.0020	pay 0.0020% / 8h	3h 39m	$46K	$51K	20x
Short	Lighter IBM	231.45	0.0032	get 0.0004% / 1h	39m 36s	$38K	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now −0.073%Rate

Funding earned: $2.51
Price spread: −0.073% → 0.000%: −$7.34
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.83
Costs to cover: 0.120%
Break-even: 53.9 days

Slippage unknown: BloFin: no order-book sample; 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 BloFin no order-book sample	—	—	—	—	—
Sell Lighter no order-book sample	—	—	—	—	—

BloFin and 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.

IBM on 18 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 IBMUSDT	0.0000%	8h	231.47	−0.064%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.55	−0.028%	$53K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.61	−0.004%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.48	−0.060%	$982K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.58	−0.017%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.58	−0.017%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.62	0.000%	$786K	$335K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.57	−0.020%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.62	−0.002%	$164	$160K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.46	−0.069%	$880	$476K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IBM-USDT	0.0000%	8h	231.88	+0.112%	$6K	$34K	20x	as long as short
BloFin IBM-USDTlong	+0.0020%	8h	231.62	long leg	$46K	$51K	20x
QFEX IBM-USD	+0.0030%	1h	231.53	−0.039%	$1.2M	$2.3M	10x	as long as short
Lighter IBMshort	+0.0032%	1h	231.45	−0.073%	$38K	$43K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.198%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.39	−0.099%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.38	−0.104%	$1.9M	$763K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.61	−0.004%	$195K	$34K	20x	as long as short