Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.005%

Price spread now: Injective against Gate−13.074%54s7-day average — · you buy dearer than you sell

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

Long on Gate 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

Funding pays, the price is against you. Injective is 13.074% cheaper against Gate than usual: you would sell low and buy high (spread −13.074% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,307 on $10k: about years of funding at the current rate (+$1 a day). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IBM_USDT	231.29	0	get 0.0000% / 8h	6h 26m	$798K	$1.4M	50x
Short	Injective IBM/USDC PERP	201.05	0.0033	get 0.0004% / 1h	26m 08s	—	$57	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −13.074%Rate

Funding earned: $7
Price spread: −13.074% → 0.000%: −$1,307.45
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,315.47
Costs to cover: 0.150%
Break-even: 1322.5 days

Slippage unknown: Gate: live order book, 1 min ago; 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 Gate live order book, 1 min ago	3.03 bp	18.5 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 17 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	231.18	−0.050%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.20	−0.039%	$973K	$346K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.25	−0.017%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDTlong	0.0000%	8h	231.29	long leg	$798K	$1.4M	50x
Bitget IBMUSDT	0.0000%	8h	231.36	+0.030%	$791K	$338K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.34	+0.022%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.15	−0.061%	$1K	$487K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.78	+0.212%	$5K	$34K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0002%	8h	231.32	+0.015%	$507	$160K	10x	as long as short
QFEX IBM-USD	+0.0029%	1h	231.30	+0.004%	$1.2M	$3.0M	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective IBM/USDC PERPshort	+0.0033%	1h	201.05	−13.074%	—	$57	12x
Vest IBM-USD-PERP	+0.0046%	1h	231.14	−0.065%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.13	−0.069%	$1.9M	$723K	10x	as long as short
Lighter IBM	+0.0056%	1h	231.45	+0.069%	$38K	$43K	10x	as long as short
Extended IBM-USD	+0.0096%	1h	231.31	+0.007%	$54K	$235K	10x	as long as short
Binance IBMUSDT	+0.0098%	8h	231.37	+0.035%	$3.9M	$5.2M	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.22	−0.030%	$194K	$33K	20x	as long as short