Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.008%

Price spread now: QFEX against Gate−0.026%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.085%−$8 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.026%, 7d avg −0.049%

Together, before fees−0.081%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.023% dearer against Gate than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.049%. Mind the row above: over the last 4 days funding on this pair cost −0.085%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IBM_USDT	231.54	0	get 0.0000% / 8h	5h 33m	$799K	$1.4M	50x
Short	QFEX IBM-USD	231.48	0.0035	get 0.0004% / 1h	33m 44s	$1.2M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.026%Rate

Funding earned: $7.26
Price spread: −0.026% → −0.049%: $2.26
Slippage, 4 orders: −$20.9
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$36.38
Costs to cover: 0.459%
Break-even: 42.1 days

Slippage from Gate: live order book, 3 min ago; QFEX: live order book, 4 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, 3 min ago	2.38 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.73 bp	6.7 bp −$7	11.6 bp −$116	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	231.44	−0.041%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.44	−0.043%	$974K	$346K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.47	−0.030%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDTlong	0.0000%	8h	231.54	long leg	$799K	$1.4M	50x
Bitget IBMUSDT	0.0000%	8h	231.57	+0.013%	$789K	$338K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.53	−0.004%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.31	−0.099%	$766	$487K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.79	+0.108%	$5K	$33K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0009%	8h	231.60	+0.025%	$519	$158K	10x	as long as short
Lighter IBM	+0.0032%	1h	231.51	−0.013%	$38K	$43K	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	−13.168%	—	$57	12x	as long as short
QFEX IBM-USDshort	+0.0035%	1h	231.48	−0.026%	$1.2M	$2.7M	10x
Vest IBM-USD-PERP	+0.0046%	1h	231.35	−0.082%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.36	−0.078%	$1.9M	$726K	10x	as long as short
Binance IBMUSDT	+0.0062%	8h	231.58	+0.017%	$3.9M	$5.3M	20x	as long as short
Extended IBM-USD	+0.0064%	1h	231.52	−0.007%	$53K	$238K	10x	as long as short
BloFin IBM-USDT	+0.0065%	8h	231.57	+0.013%	$47K	$52K	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.53	−0.004%	$194K	$33K	20x	as long as short