Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.007%

Price spread now: Gate against Lighter−0.060%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Gate

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.060% cheaper against Lighter than usual: you would sell low and buy high (−$6 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	Lighter IBM	232.40	0.0032	pay 0.0004% / 1h	26m 01s	$38K	$49K	10x
Short	Gate IBM_USDT	232.26	0	get 0.0000% / 8h	1h 26m	$752K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.060%Rate

Funding earned: −$6.72
Price spread: −0.060% → 0.000%: −$6.02
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$27.74
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; Gate: live order book, 1 min ago. 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 Gate live order book, 1 min ago	3.01 bp	17.0 bp −$17	217.0 bp −$2,170	doesn't fit	doesn't fit

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	232.07	−0.142%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.24	−0.070%	$57K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.29	−0.048%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.21	−0.082%	$1.0M	$354K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.20	−0.086%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDTshort	0.0000%	8h	232.26	−0.060%	$752K	$1.5M	50x
Bitget IBMUSDT	0.0000%	8h	232.24	−0.069%	$780K	$343K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.20	−0.086%	$257K	$14K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.29	−0.047%	$44	$165K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.06	−0.146%	$624	$475K	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	232.53	+0.056%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0027%	8h	232.32	−0.034%	$47K	$56K	20x	as long as short
Lighter IBMlong	+0.0032%	1h	232.40	long leg	$38K	$49K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.490%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.09	−0.133%	—	—	25x	as long as short
QFEX IBM-USD	+0.0049%	1h	232.20	−0.086%	$1.2M	$2.1M	10x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	232.01	−0.168%	$1.8M	$820K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.20	−0.086%	$195K	$46K	20x	as long as short