Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h −0.009%

Price spread now: Extended against KuCoin−0.002%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$761as in the Funding arb table

Net, price: spread back to 7d avg − costs−$745as in the Price arb table

costs, in and out, $10k−$7467.464% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now −0.002%, 7d avg −0.014%

Together, before fees−0.160%+ Points / potential airdropExtended: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.148%, 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	KuCoin IBMUSDTM	231.43	0.0100	pay 0.0100% / 8h	7h 04m	$194K	$33K	20x
Short	Extended IBM-USD	231.43	0.0152	get 0.0019% / 1h	4m 26s	$53K	$234K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.002%Rate

Funding earned: $10.92
Price spread: −0.002% → −0.014%: $1.28
Slippage, 4 orders: −$729.41
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$734.21
Costs to cover: 7.464%
Break-even: 477.6 days

Slippage from KuCoin: live order book, 40 min ago; Extended: live order book, 2 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 KuCoin live order book, 40 min ago	6.05 bp	628.2 bp −$628	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	0.43 bp	14.1 bp −$14	170.4 bp −$1,704	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	231.41	−0.007%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.34	−0.039%	$974K	$350K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.45	+0.009%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.51	+0.035%	$800K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.50	+0.030%	$792K	$349K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.42	−0.003%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.31	−0.052%	$1K	$489K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.93	+0.216%	$5K	$34K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0025%	8h	231.58	+0.064%	$412	$162K	10x	as long as short
QFEX IBM-USD	+0.0025%	1h	231.41	−0.009%	$1.2M	$3.2M	10x	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	231.32	−0.048%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.127%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.39	−0.017%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.26	−0.073%	$1.9M	$721K	10x	as long as short
KuCoin IBMUSDTMlong	+0.0100%	8h	231.43	long leg	$194K	$33K	20x
Binance IBMUSDT	+0.0150%	8h	231.48	+0.022%	$3.9M	$5.3M	20x	as long as short
Extended IBM-USDshort	+0.0152%	1h	231.43	−0.002%	$53K	$234K	10x
BloFin IBM-USDT	+0.0176%	8h	231.53	+0.043%	$664	$52K	20x	as long as short