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: Lighter against SunX+0.108%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.108% dearer against SunX than usual: you sell high and buy low: +$11 more if the spread 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	SunX IBM-USDT	231.27	0	get 0.0000% / 8h	5h 51m	$934	$486K	10x
Short	Lighter IBM	231.52	0.0032	get 0.0004% / 1h	51m 32s	$38K	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.108%Rate

Funding earned: $6.72
Price spread: +0.108% → 0.000%: $10.81
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $9.53
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 49 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 SunX live order book, 49 min ago	514.47 bp	doesn't fit	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 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	231.49	+0.093%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.49	+0.095%	$974K	$346K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.57	+0.130%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.59	+0.138%	$799K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.60	+0.143%	$789K	$337K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.61	+0.146%	$256K	$15K	—	as long as short
SunX IBM-USDTlong	0.0000%	8h	231.27	long leg	$934	$486K	10x
HTX IBM-USDT	0.0000%	8h	232.13	+0.372%	$5K	$34K	20x	as long as short
Lighter IBMshort	+0.0032%	1h	231.52	+0.108%	$38K	$43K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.067%	—	$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	+0.104%	$1.2M	$2.8M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.44	+0.074%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.42	+0.065%	$1.9M	$725K	10x	as long as short
GRVT IBM_USDT_Perp	+0.0089%	8h	231.63	+0.154%	$192	$158K	10x	as long as short
Binance IBMUSDT	+0.0094%	8h	231.63	+0.156%	$3.9M	$5.3M	20x	as long as short
Extended IBM-USD	+0.0096%	1h	231.61	+0.146%	$53K	$235K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.63	+0.156%	$194K	$33K	20x	as long as short