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 −0.013%

Price spread now: OKX against Lighter+0.026%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 OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 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

The price spread pays, funding is against you. OKX is 0.026% dearer against Lighter than usual: you sell high and buy low (spread +0.026% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter IBM	231.51	0.0032	pay 0.0004% / 1h	48m 59s	$38K	$43K	10x
Short	OKX IBM-USDT-SWAP	231.57	0	get 0.0000% / 8h	5h 48m	$1.4M	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$6.72
Price spread: +0.026% → 0.000%: $2.59
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$14.13
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	0.22 bp	10.5 bp −$11	155.6 bp −$1,556	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 17 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	231.45	−0.027%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.46	−0.022%	$974K	$346K	50x	as long as short
OKX IBM-USDT-SWAPshort	0.0000%	8h	231.57	+0.026%	$1.4M	$1.1M	20x
Gate IBM_USDT	0.0000%	8h	231.56	+0.022%	$799K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.57	+0.026%	$789K	$337K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.54	+0.015%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.38	−0.056%	$935	$486K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.05	+0.233%	$5K	$34K	20x	as long as short
Lighter IBMlong	+0.0032%	1h	231.51	long leg	$38K	$43K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.157%	—	$57	12x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX IBM-USD	+0.0035%	1h	231.51	0.000%	$1.2M	$2.8M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.45	−0.026%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.37	−0.060%	$1.9M	$726K	10x	as long as short
Extended IBM-USD	+0.0088%	1h	231.53	+0.007%	$53K	$235K	10x	as long as short
GRVT IBM_USDT_Perp	+0.0089%	8h	231.60	+0.039%	$192	$158K	10x	as long as short
Binance IBMUSDT	+0.0091%	8h	231.57	+0.026%	$3.9M	$5.3M	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.59	+0.035%	$194K	$33K	20x	as long as short