Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.033%

Price spread now: Lighter against KuCoin−0.035%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.153%−$15 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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.035% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IBMUSDTM	231.45	0.0100	pay 0.0100% / 8h	4h 33m	$194K	$34K	20x
Short	Lighter IBM	231.37	0.0032	get 0.0004% / 1h	33m 59s	$38K	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$14.28
Price spread: −0.035% → 0.000%: −$3.46
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$29.74
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 46 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 KuCoin live order book, 46 min ago	4.97 bp	622.5 bp −$622	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	231.38	−0.029%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.44	−0.003%	$53K	$235K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.50	+0.022%	$3.9M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.33	−0.052%	$980K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.46	+0.004%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.47	+0.009%	$804K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.47	+0.009%	$785K	$341K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.44	−0.002%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.47	+0.010%	$486	$159K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.40	−0.022%	$960	$482K	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	231.92	+0.203%	$5K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0004%	8h	231.50	+0.022%	$47K	$51K	20x	as long as short
QFEX IBM-USD	+0.0026%	1h	231.40	−0.022%	$1.2M	$2.5M	10x	as long as short
Lighter IBMshort	+0.0032%	1h	231.37	−0.035%	$38K	$43K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.135%	—	$57	12x	as long as short
tradeXYZ xyz:IBM	+0.0036%	1h	231.32	−0.056%	$1.9M	$756K	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.34	−0.048%	—	—	25x	as long as short
KuCoin IBMUSDTMlong	+0.0100%	8h	231.45	long leg	$194K	$34K	20x