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 +0.013%

Price spread now: Lighter against SunX+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 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 0.026% dearer against SunX than usual: you sell high and buy low: +$3 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	231.59	0	get 0.0000% / 8h	3h 15m	$936	$478K	10x
Short	Lighter IBM	231.65	0.0032	get 0.0004% / 1h	15m 48s	$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 +0.026%Rate

Funding earned: $6.72
Price spread: +0.026% → 0.000%: $2.59
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $1.31
Costs to cover: 0.080%
Break-even: 5.6 days

Slippage unknown: SunX: live order book, 65 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, 65 min ago	500.12 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 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	231.85	+0.112%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.82	+0.099%	$53K	$237K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.89	+0.130%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.69	+0.043%	$983K	$340K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.87	+0.121%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.86	+0.117%	$803K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.67	+0.035%	$786K	$332K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.84	+0.108%	$257K	$14K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.68	+0.039%	$739	$162K	10x	as long as short
SunX IBM-USDTlong	0.0000%	8h	231.59	long leg	$936	$478K	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IBM-USDT	0.0000%	8h	232.24	+0.281%	$6K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0016%	8h	231.75	+0.069%	$47K	$51K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.77	+0.078%	$1.2M	$2.2M	10x	as long as short
Lighter IBMshort	+0.0032%	1h	231.65	+0.026%	$38K	$43K	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.187%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.69	+0.043%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0048%	1h	231.60	+0.004%	$1.9M	$777K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.78	+0.082%	$195K	$34K	20x	as long as short