Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0028%/8h= +3.0% APRpaid last 24h −0.031%

Price spread now: tradeXYZ against Binance−0.083%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$480.477% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 7 days+0.005%+$1 · spread now −0.083%, 7d avg −0.121%

Together, before fees−0.014%+ Points / potential airdroptradeXYZ: Active · farm board−$1 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 tradeXYZ is 0.037% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.121%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IBMUSDT	231.43	0.0022	pay 0.0022% / 8h	5h 02m	$3.9M	$5.4M	20x
Short	tradeXYZ xyz:IBM	231.24	0.0050	get 0.0006% / 1h	2m 16s	$1.9M	$756K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.083%Rate

Funding earned: $5.84
Price spread: −0.083% → −0.121%: $3.71
Slippage, 4 orders: −$19.65
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$38.1
Costs to cover: 0.477%
Break-even: 52.6 days

Slippage from Binance: live order book, 6 min ago; tradeXYZ: 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 Binance live order book, 6 min ago	0.43 bp	10.8 bp −$11	25.4 bp −$254	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	1.51 bp	10.7 bp −$11	19.4 bp −$194	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
Aster IBMUSDT	0.0000%	8h	231.34	−0.041%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.26	−0.075%	$979K	$350K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.48	+0.020%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.48	+0.020%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.56	+0.055%	$786K	$342K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.52	+0.040%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.57	+0.059%	$516	$158K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.37	−0.027%	$775	$485K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.98	+0.236%	$5K	$33K	20x	as long as short
Binance IBMUSDTlong	+0.0022%	8h	231.43	long leg	$3.9M	$5.4M	20x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IBM-USD	+0.0024%	1h	231.37	−0.027%	$54K	$236K	10x	as long as short
BloFin IBM-USDT	+0.0029%	8h	231.45	+0.007%	$667	$52K	20x	as long as short
Lighter IBM	+0.0032%	1h	231.41	−0.010%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.128%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0035%	1h	231.36	−0.032%	$1.2M	$2.6M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.32	−0.049%	—	—	25x	as long as short
tradeXYZ xyz:IBMshort	+0.0050%	1h	231.24	−0.083%	$1.9M	$756K	10x
KuCoin IBMUSDTM	+0.0100%	8h	231.43	−0.001%	$194K	$34K	20x	as long as short