Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.012%

Price spread now: QFEX against Aster−0.005%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$229as in the Price arb table

costs, in and out, $10k−$2322.319% of the position

Long on Aster Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.005%, 7d avg −0.036%

Together, before fees+0.024%+ Points / potential airdropAster: Stage 5 · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.031% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster IBMUSDT	231.99	0	get 0.0000% / 8h	7h 52m	$13K	$127K	20x
Short	QFEX IBM-USD	231.98	0.0036	get 0.0005% / 1h	52m 20s	$1.2M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Aster. 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 AsterbpFee QFEXbpOrdersPrice spread, now −0.005%Rate

Funding earned: $7.58
Price spread: −0.005% → −0.036%: $3.06
Slippage, 4 orders: −$213.87
Fee Aster: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$221.23
Costs to cover: 2.319%
Break-even: 211.4 days

Slippage from Aster: live order book, 44 min ago; QFEX: live order book, 5 min ago.

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 Aster live order book, 44 min ago	40.00 bp	139.4 bp −$139	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.73 bp	7.1 bp −$7	15.2 bp −$152	doesn't fit	doesn't fit

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
BloFin IBM-USDT	−0.0003%	8h	231.99	−0.001%	$47K	$60K	20x	as long as short
Aster IBMUSDTlong	0.0000%	8h	231.99	long leg	$13K	$127K	20x
Extended IBM-USD	0.0000%	1h	232.01	+0.008%	$53K	$311K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.10	+0.046%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.92	−0.031%	$1.0M	$350K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.17	+0.076%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.14	+0.064%	$742K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.08	+0.038%	$779K	$334K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.81	−0.080%	$256K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.97	−0.010%	$540	$167K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX IBM-USDT	0.0000%	8h	231.98	−0.005%	$1K	$455K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.07	+0.033%	$6K	$33K	20x	as long as short
tradeXYZ xyz:IBM	+0.0021%	1h	231.84	−0.066%	$1.8M	$801K	10x	as long as short
Lighter IBM	+0.0032%	1h	232.16	+0.072%	$38K	$45K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.338%	—	$57	12x	as long as short
QFEX IBM-USDshort	+0.0036%	1h	231.98	−0.005%	$1.2M	$2.1M	10x
Vest IBM-USD-PERP	+0.0046%	1h	232.02	+0.012%	—	—	25x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.95	−0.018%	$194K	$62K	20x	as long as short