Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.031%

Price spread now: Extended against Bybit+0.008%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$660.659% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.008%, 7d avg +0.036%

Together, before fees+0.083%+ Points / potential airdropExtended: Active · farm board+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.028% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it 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	Bybit IBMUSDT	232.64	0	get 0.0000% / 8h	7h 02m	$995K	$319K	50x
Short	Extended IBM-USD	232.66	0	get 0.0000% / 1h	2m 05s	$54K	$317K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → +0.036%: −$2.84
Slippage, 4 orders: −$49.91
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$68.75
Costs to cover: 0.659%
Break-even: never at this rate

Slippage from Bybit: live order book, 18 min ago; Extended: live order book, 30 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 Bybit live order book, 18 min ago	4.09 bp	22.8 bp −$23	105.3 bp −$1,053	doesn't fit	doesn't fit
Sell Extended live order book, 30 min ago	0.65 bp	15.0 bp −$15	129.2 bp −$1,292	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	232.63	−0.004%	$13K	$127K	20x	as long as short
Extended IBM-USDshort	0.0000%	1h	232.66	+0.008%	$54K	$317K	10x
Binance IBMUSDT	0.0000%	8h	232.72	+0.034%	$3.8M	$4.8M	20x	as long as short
Bybit IBMUSDTlong	0.0000%	8h	232.64	long leg	$995K	$319K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	232.76	+0.052%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.75	+0.047%	$743K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.69	+0.021%	$782K	$293K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.78	+0.059%	$258K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	232.52	−0.052%	$948	$427K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.63	−0.004%	$6K	$33K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin IBM-USDT	+0.0029%	8h	232.78	+0.060%	$47K	$61K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.86	+0.095%	$38K	$45K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.579%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0036%	1h	232.69	+0.021%	$1.2M	$2.0M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.61	−0.013%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	232.47	−0.073%	$1.8M	$773K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.65	+0.004%	$195K	$111K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0382%	8h	232.81	+0.073%	$573	$164K	10x	as long as short