Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.010%

Price spread now: OKX against Injective+15.051%7-day average — · you sell dearer than you buy

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

Long on Injective Short on OKX

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

The price spread pays, funding is against you. OKX is 15.051% dearer against Injective than usual: you sell high and buy low (spread +15.051% now, against zero (this spread has no 7-day history yet)): +$1,505 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about years.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective IBM/USDC PERP	201.05	0.0033	pay 0.0004% / 1h	13m 06s	—	$57	12x
Short	OKX IBM-USDT-SWAP	231.31	0	get 0.0000% / 8h	1h 13m	$1.4M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. 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 InjectivebpFee OKXbpOrdersPrice spread, now +15.051%Rate

Funding earned: −$7
Price spread: +15.051% → 0.000%: $1,505.1
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $1,488.08
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 4 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 Injective no order-book sample	—	—	—	—	—
Sell OKX live order book, 4 min ago	1.30 bp	11.1 bp −$11	159.7 bp −$1,597	doesn't fit	doesn't fit

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 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	231.31	+15.052%	$13K	$126K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.19	+14.991%	$975K	$381K	50x	as long as short
OKX IBM-USDT-SWAPshort	0.0000%	8h	231.31	+15.051%	$1.4M	$1.2M	20x
Gate IBM_USDT	0.0000%	8h	231.35	+15.071%	$812K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.37	+15.081%	$798K	$395K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.39	+15.089%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.16	+14.976%	$758	$535K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.63	+15.210%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0016%	1h	231.31	+15.051%	$1.2M	$3.2M	10x	as long as short
BloFin IBM-USDT	+0.0018%	8h	231.37	+15.081%	$46K	$52K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IBM	+0.0032%	1h	231.40	+15.096%	$38K	$50K	10x	as long as short
Injective IBM/USDC PERPlong	+0.0033%	1h	201.05	long leg	—	$57	12x
Extended IBM-USD	+0.0040%	1h	231.30	+15.047%	$54K	$202K	10x	as long as short
Binance IBMUSDT	+0.0044%	8h	231.34	+15.065%	$3.9M	$5.8M	20x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.23	+15.011%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.17	+14.981%	$2.0M	$808K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.24	+15.016%	$194K	$34K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0313%	8h	231.38	+15.086%	$192	$172K	10x	as long as short