IBM

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h 0.000%

Price spread now: QFEX against Lighter+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 Lighter Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. QFEX is 0.030% dearer against Lighter than usual: you sell high and buy low (spread +0.030% 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 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter IBM	232.64	0.0032	pay 0.0004% / 1h	56m 11s	$37K	$44K	10x
Short	QFEX IBM-USD	232.71	0.0014	get 0.0002% / 1h	56m 11s	$1.2M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$3.83
Price spread: +0.030% → 0.000%: $3.01
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$10.82
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; QFEX: live order book, 4 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 QFEX live order book, 4 min ago	21.69 bp	32.8 bp −$33	39.3 bp −$393	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 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	232.53	−0.045%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.65	+0.004%	$997K	$309K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.72	+0.034%	$1.4M	$1.0M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.84	+0.086%	$743K	$1.3M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.68	+0.017%	$779K	$279K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.80	+0.070%	$258K	$14K	—	as long as short
SunX IBM-USDT	0.0000%	8h	232.60	−0.017%	$491	$377K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.57	−0.030%	$7K	$34K	20x	as long as short
QFEX IBM-USDshort	+0.0014%	1h	232.71	+0.030%	$1.2M	$2.0M	10x
Lighter IBMlong	+0.0032%	1h	232.64	long leg	$37K	$44K	10x

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.579%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.67	+0.013%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	232.59	−0.021%	$1.8M	$787K	10x	as long as short
Binance IBMUSDT	+0.0052%	8h	232.82	+0.075%	$3.8M	$4.7M	20x	as long as short
Extended IBM-USD	+0.0056%	1h	232.72	+0.036%	$53K	$307K	10x	as long as short
BloFin IBM-USDT	+0.0069%	8h	232.79	+0.064%	$47K	$63K	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.74	+0.043%	$196K	$253K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0650%	8h	232.83	+0.081%	$54	$151K	10x	as long as short