Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0195%/8h= −21.3% APRpaid last 24h −0.018%

Price spread now: Injective against BloFin−13.198%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Injective

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—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Injective is 13.198% cheaper against BloFin than usual: you would sell low and buy high (−$1,320 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	BloFin IBM-USDT	231.62	0.0228	pay 0.0228% / 8h	7h 54m	$46K	$52K	20x
Short	Injective IBM/USDC PERP	201.05	0.0033	get 0.0004% / 1h	54m 34s	—	$57	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −13.198%Rate

Funding earned: −$40.87
Price spread: −13.198% → 0.000%: −$1,319.83
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,372.72
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: no order-book sample; Injective: 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 BloFin no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

BloFin and Injective: 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	231.98	+0.156%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.52	−0.043%	$977K	$358K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.69	+0.030%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.57	−0.022%	$797K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.61	−0.004%	$793K	$372K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.65	+0.015%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.38	−0.104%	$1K	$527K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.90	+0.121%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0025%	1h	231.54	−0.035%	$1.2M	$3.3M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.50	−0.052%	$38K	$43K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective IBM/USDC PERPshort	+0.0033%	1h	201.05	−13.198%	—	$57	12x
Vest IBM-USD-PERP	+0.0046%	1h	231.43	−0.082%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.50	−0.052%	$1.9M	$821K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.56	−0.026%	$195K	$33K	20x	as long as short
Binance IBMUSDT	+0.0221%	8h	231.62	0.000%	$3.9M	$5.6M	20x	as long as short
Extended IBM-USD	+0.0224%	1h	231.58	−0.019%	$54K	$200K	10x	as long as short
BloFin IBM-USDTlong	+0.0228%	8h	231.62	long leg	$46K	$52K	20x
GRVT IBM_USDT_Perp	+0.0794%	8h	231.65	+0.012%	$584	$168K	10x	as long as short