Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0048%/8h= +5.2% APRpaid last 24h +0.017%

Price spread now: tradeXYZ against HTX−0.276%7-day average — · you buy dearer than you sell

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

Long on HTX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.276% cheaper against HTX than usual: you would sell low and buy high (spread −0.276% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 19 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX IBM-USDT	232.24	0	get 0.0000% / 8h	3h 15m	$6K	$34K	20x
Short	tradeXYZ xyz:IBM	231.60	0.0048	get 0.0006% / 1h	15m 43s	$1.9M	$777K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against HTX. 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 HTXbpFee tradeXYZbpOrdersPrice spread, now −0.276%Rate

Funding earned: $10
Price spread: −0.276% → 0.000%: −$27.56
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$47.56
Costs to cover: 0.300%
Break-even: 40.3 days

Slippage unknown: HTX: no order-book sample; tradeXYZ: live order book, 1 min ago. 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 HTX no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 1 min ago	1.51 bp	11.4 bp −$11	19.3 bp −$193	doesn't fit	doesn't fit

HTX: 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 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	231.85	−0.168%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.82	−0.181%	$53K	$237K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.89	−0.151%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.69	−0.237%	$983K	$340K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.87	−0.159%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.86	−0.164%	$803K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.67	−0.245%	$786K	$332K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.84	−0.172%	$257K	$14K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.68	−0.241%	$739	$162K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.59	−0.280%	$936	$478K	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-USDTlong	0.0000%	8h	232.24	long leg	$6K	$34K	20x
BloFin IBM-USDT	+0.0016%	8h	231.75	−0.211%	$47K	$51K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.77	−0.202%	$1.2M	$2.2M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.65	−0.254%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.430%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.69	−0.237%	—	—	25x	as long as short
tradeXYZ xyz:IBMshort	+0.0048%	1h	231.60	−0.276%	$1.9M	$777K	10x
KuCoin IBMUSDTM	+0.0100%	8h	231.78	−0.198%	$195K	$34K	20x	as long as short