Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.017%

Price spread now: tradeXYZ against Bybit−0.065%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$510.510% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.065%, 7d avg −0.043%

Together, before fees+0.186%+ Points / potential airdroptradeXYZ: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.022% cheaper against Bybit than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of −0.043%). If the spread goes back, that is −$2 on $10k: about 35 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IBMUSDT	231.93	0	get 0.0000% / 8h	2h 44m	$984K	$337K	50x
Short	tradeXYZ xyz:IBM	231.78	0.0050	get 0.0006% / 1h	44m 58s	$1.8M	$803K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.065%Rate

Funding earned: $10.5
Price spread: −0.065% → −0.043%: −$2.16
Slippage, 4 orders: −$21.98
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$42.65
Costs to cover: 0.510%
Break-even: 35.4 days

Slippage from Bybit: live order book, 65 min ago; tradeXYZ: live order book, 3 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, 65 min ago	3.03 bp	13.7 bp −$14	87.6 bp −$876	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 3 min ago	1.29 bp	10.8 bp −$11	doesn't fit	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	232.04	+0.046%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.97	+0.017%	$57K	$234K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.05	+0.052%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDTlong	0.0000%	8h	231.93	long leg	$984K	$337K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	232.02	+0.039%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.05	+0.052%	$808K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.05	+0.052%	$788K	$322K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.02	+0.039%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.03	+0.043%	$114	$160K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.83	−0.043%	$1K	$477K	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	232.32	+0.168%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0003%	8h	232.11	+0.078%	$47K	$52K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.95	+0.009%	$1.2M	$2.2M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.82	−0.047%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.314%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.82	−0.047%	—	—	25x	as long as short
tradeXYZ xyz:IBMshort	+0.0050%	1h	231.78	−0.065%	$1.8M	$803K	10x
KuCoin IBMUSDTM	+0.0100%	8h	231.97	+0.017%	$195K	$36K	20x	as long as short