Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.006%

Price spread now: Lighter against Variational Omni−0.012%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

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 airdropVariational Omni: Active · Lighter: Season 3 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IBM	231.90	0	get 0.0000% / 8h	3h 06m	$257K	$14K	—
Short	Lighter IBM	231.87	0.0032	get 0.0004% / 1h	6m 39s	$38K	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.012%Rate

Funding earned: $6.72
Price spread: −0.012% → 0.000%: −$1.17
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $5.55
Costs to cover: 0.000%
Break-even: 1.2 days

Slippage unknown: Variational Omni: RFQ quote, 47 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 Variational Omni RFQ quote, 47 min ago	2.79 bp	doesn't fit	47.0 bp −$470	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 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	231.94	+0.016%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.98	+0.035%	$53K	$234K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.04	+0.062%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.90	+0.001%	$984K	$340K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.05	+0.066%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.05	+0.066%	$804K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.74	−0.068%	$786K	$323K	20x	as long as short
Variational Omni IBMlong	0.0000%	8h	231.90	long leg	$257K	$14K	—
GRVT IBM_USDT_Perp	0.0000%	8h	231.98	+0.036%	$72	$162K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.78	−0.050%	$946	$477K	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	232.26	+0.156%	$6K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0001%	8h	232.05	+0.066%	$47K	$52K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.94	+0.019%	$1.2M	$2.2M	10x	as long as short
Lighter IBMshort	+0.0032%	1h	231.87	−0.012%	$38K	$43K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.302%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.79	−0.046%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.74	−0.068%	$1.9M	$769K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.93	+0.014%	$195K	$35K	20x	as long as short