Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.058%

Price spread now: Bitget against Gate−0.004%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$730.735% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now −0.004%, 7d avg −0.028%

Together, before fees−0.144%−$14 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: Bitget is 0.024% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IBM_USDT	231.33	0	get 0.0000% / 8h	56m 19s	$812K	$1.5M	50x
Short	Bitget IBMUSDT	231.32	0	get 0.0000% / 8h	56m 19s	$798K	$408K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Gate. 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 GatebpFee BitgetbpOrdersPrice spread, now −0.004%Rate

Funding earned: $0
Price spread: −0.004% → −0.028%: $2.38
Slippage, 4 orders: −$46.49
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$71.11
Costs to cover: 0.735%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Bitget: live order book, 19 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 Gate live order book, 1 min ago	2.38 bp	19.1 bp −$19	223.5 bp −$2,235	doesn't fit	doesn't fit
Sell Bitget live order book, 19 min ago	4.10 bp	22.7 bp −$23	59.0 bp −$590	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	231.19	−0.059%	$13K	$126K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.26	−0.030%	$976K	$381K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.46	+0.056%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDTlong	0.0000%	8h	231.33	long leg	$812K	$1.5M	50x
Bitget IBMUSDTshort	0.0000%	8h	231.32	−0.004%	$798K	$408K	20x
Variational Omni IBM	0.0000%	8h	231.31	−0.007%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.13	−0.086%	$982	$533K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.74	+0.177%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0031%	1h	231.31	−0.009%	$1.2M	$3.2M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.43	+0.043%	$38K	$47K	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 PERP	+0.0033%	1h	201.05	−13.090%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.32	−0.004%	—	—	25x	as long as short
BloFin IBM-USDT	+0.0047%	8h	231.44	+0.048%	$46K	$52K	20x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.25	−0.035%	$2.0M	$808K	10x	as long as short
Extended IBM-USD	+0.0064%	1h	231.33	0.000%	$54K	$202K	10x	as long as short
Binance IBMUSDT	+0.0067%	8h	231.42	+0.039%	$3.9M	$5.8M	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.25	−0.035%	$194K	$34K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0332%	8h	231.32	−0.003%	$173	$172K	10x	as long as short