Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against HTX+0.030%7-day average — · you sell dearer than you buy

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

Long on HTX 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.030% dearer against HTX than usual: you sell high and buy low: +$3 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	HTX IBM-USDT	232.25	0	get 0.0000% / 8h	10m 11s	$6K	$33K	20x
Short	Lighter IBM	232.32	0.0032	get 0.0004% / 1h	10m 11s	$38K	$49K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now +0.030%Rate

Funding earned: $6.72
Price spread: +0.030% → 0.000%: $3.01
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.27
Costs to cover: 0.120%
Break-even: 9.4 days

Slippage unknown: HTX: 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 HTX no order-book sample	—	—	—	—	—
Sell Lighter no order-book sample	—	—	—	—	—

HTX 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	232.11	−0.058%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.16	−0.037%	$53K	$311K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.22	−0.013%	$3.8M	$5.6M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.03	−0.095%	$1.0M	$349K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.12	−0.056%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.22	−0.013%	$743K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.21	−0.017%	$780K	$346K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.19	−0.025%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.21	−0.017%	$93	$168K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.06	−0.082%	$884	$472K	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-USDTlong	0.0000%	8h	232.25	long leg	$6K	$33K	20x
BloFin IBM-USDT	+0.0010%	8h	232.26	+0.004%	$47K	$60K	20x	as long as short
Lighter IBMshort	+0.0032%	1h	232.32	+0.030%	$38K	$49K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.434%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0043%	1h	232.13	−0.052%	$1.2M	$2.1M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.06	−0.082%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.95	−0.129%	$1.8M	$801K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.16	−0.039%	$194K	$56K	20x	as long as short