Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h +0.007%

Price spread now: BloFin against Lighter+0.086%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on BloFin

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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: BloFin is 0.086% dearer against Lighter than usual: you sell high and buy low, +$9 on $10k if it 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	Lighter IBM	232.60	0.0032	pay 0.0004% / 1h	55m 17s	$37K	$44K	10x
Short	BloFin IBM-USDT	232.80	0.0026	get 0.0026% / 8h	4h 55m	$48K	$63K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$1.36
Price spread: +0.086% → 0.000%: $8.6
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$4.76
Costs to cover: 0.120%
Break-even: never at this rate

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

Lighter and BloFin: 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 exchanges

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	232.57	−0.014%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.69	+0.039%	$997K	$309K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.71	+0.047%	$1.4M	$1.0M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.87	+0.116%	$743K	$1.3M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.68	+0.034%	$779K	$279K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.75	+0.066%	$258K	$14K	—	as long as short
SunX IBM-USDT	0.0000%	8h	232.69	+0.039%	$607	$377K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.57	−0.013%	$7K	$34K	20x	as long as short
QFEX IBM-USD	+0.0014%	1h	232.71	+0.047%	$1.2M	$2.0M	10x	as long as short
BloFin IBM-USDTshort	+0.0026%	8h	232.80	+0.086%	$48K	$63K	20x

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IBMlong	+0.0032%	1h	232.60	long leg	$37K	$44K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.564%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.71	+0.047%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	232.60	0.000%	$1.8M	$787K	10x	as long as short
Binance IBMUSDT	+0.0054%	8h	232.87	+0.118%	$3.8M	$4.7M	20x	as long as short
Extended IBM-USD	+0.0056%	1h	232.79	+0.082%	$53K	$307K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.78	+0.077%	$196K	$254K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0651%	8h	232.79	+0.082%	$2	$151K	10x	as long as short