Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.007%

Price spread now: Lighter against Gate−0.048%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 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 0.048% cheaper against Gate than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 4.9 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	Gate IBM_USDT	231.52	0	get 0.0000% / 8h	5h 02m	$801K	$1.4M	50x
Short	Lighter IBM	231.41	0.0032	get 0.0004% / 1h	2m 35s	$38K	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.048%Rate

Funding earned: $6.72
Price spread: −0.048% → 0.000%: −$4.75
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$13.03
Costs to cover: 0.150%
Break-even: 20.6 days

Slippage unknown: Gate: live order book, 5 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 Gate live order book, 5 min ago	1.73 bp	17.6 bp −$18	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.

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	231.34	−0.077%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.26	−0.112%	$979K	$350K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.48	−0.017%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDTlong	0.0000%	8h	231.52	long leg	$801K	$1.4M	50x
Bitget IBMUSDT	0.0000%	8h	231.56	+0.017%	$786K	$342K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.52	+0.002%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.57	+0.022%	$516	$158K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.37	−0.065%	$775	$485K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.98	+0.199%	$5K	$33K	20x	as long as short
Binance IBMUSDT	+0.0022%	8h	231.43	−0.038%	$3.9M	$5.4M	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IBM-USD	+0.0024%	1h	231.37	−0.066%	$54K	$236K	10x	as long as short
BloFin IBM-USDT	+0.0029%	8h	231.45	−0.030%	$667	$52K	20x	as long as short
Lighter IBMshort	+0.0032%	1h	231.41	−0.048%	$38K	$43K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.161%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0035%	1h	231.36	−0.069%	$1.2M	$2.6M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.32	−0.086%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.26	−0.112%	$1.9M	$756K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.43	−0.039%	$194K	$34K	20x	as long as short