Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0143%/8h= −15.7% APRpaid last 24h −0.034%

Price spread now: Lighter against Binance−0.117%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 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 −$4 a day on $10k at the current rate, and Lighter is 0.117% cheaper against Binance than usual: you would sell low and buy high (−$12 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	Binance IBMUSDT	231.64	0.0175	pay 0.0175% / 8h	7h 25m	$3.9M	$5.3M	20x
Short	Lighter IBM	231.37	0.0032	get 0.0004% / 1h	25m 01s	$38K	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.117%Rate

Funding earned: −$30.1
Price spread: −0.117% → 0.000%: −$11.66
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$51.75
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 13 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 Binance live order book, 13 min ago	0.22 bp	14.0 bp −$14	32.8 bp −$328	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	231.46	−0.077%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.48	−0.069%	$977K	$354K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.68	+0.017%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.63	−0.004%	$802K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.65	+0.004%	$793K	$356K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.64	+0.001%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.54	−0.043%	$905	$497K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.07	+0.186%	$5K	$34K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0015%	8h	231.67	+0.012%	$320	$164K	10x	as long as short
QFEX IBM-USD	+0.0025%	1h	231.55	−0.039%	$1.2M	$3.3M	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IBMshort	+0.0032%	1h	231.37	−0.117%	$38K	$43K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.206%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.46	−0.078%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.37	−0.117%	$1.9M	$727K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.59	−0.022%	$195K	$33K	20x	as long as short
Binance IBMUSDTlong	+0.0175%	8h	231.64	long leg	$3.9M	$5.3M	20x
Extended IBM-USD	+0.0176%	1h	231.59	−0.023%	$53K	$283K	10x	as long as short
BloFin IBM-USDT	+0.0192%	8h	231.61	−0.013%	$662	$52K	20x	as long as short