Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bybit+0.082%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now +0.082%, 7d avg +0.044%

Together, before fees−0.037%−$4 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: OKX is 0.038% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IBMUSDT	232.05	0	get 0.0000% / 8h	2h 30m	$984K	$340K	50x
Short	OKX IBM-USDT-SWAP	232.24	0	get 0.0000% / 8h	2h 30m	$1.4M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.082%Rate

Funding earned: $0
Price spread: +0.082% → +0.044%: $3.79
Slippage, 4 orders: −$34.71
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$51.92
Costs to cover: 0.557%
Break-even: never at this rate

Slippage from Bybit: live order book, 14 min ago; OKX: live order book, 1 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, 14 min ago	3.88 bp	12.3 bp −$12	77.7 bp −$777	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.86 bp	18.0 bp −$18	200.4 bp −$2,004	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	232.11	+0.025%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.14	+0.038%	$57K	$234K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.20	+0.065%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDTlong	0.0000%	8h	232.05	long leg	$984K	$340K	50x
OKX IBM-USDT-SWAPshort	0.0000%	8h	232.24	+0.082%	$1.4M	$1.2M	20x
Gate IBM_USDT	0.0000%	8h	232.21	+0.069%	$804K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.20	+0.065%	$790K	$325K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.18	+0.056%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.19	+0.061%	$755	$161K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.01	−0.017%	$851	$476K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IBM-USDT	0.0000%	8h	232.54	+0.211%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0008%	8h	232.34	+0.125%	$47K	$52K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	232.09	+0.017%	$1.2M	$2.2M	10x	as long as short
Lighter IBM	+0.0032%	1h	232.05	0.000%	$38K	$44K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.359%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.93	−0.052%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.84	−0.090%	$1.8M	$806K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.07	+0.009%	$195K	$37K	20x	as long as short