Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.036%

Price spread now: Injective against KuCoin−13.400%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 13.400% cheaper against KuCoin than usual: you would sell low and buy high (−$1,340 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IBMUSDTM	232.16	0.0100	pay 0.0100% / 8h	12m 45s	$194K	$55K	20x
Short	Injective IBM/USDC PERP	201.05	0.0033	get 0.0004% / 1h	12m 45s	—	$57	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −13.400%Rate

Funding earned: −$14
Price spread: −13.400% → 0.000%: −$1,340.02
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,366.04
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 18 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 KuCoin live order book, 18 min ago	5.39 bp	484.5 bp −$484	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 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	232.14	−0.007%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.19	+0.014%	$53K	$311K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.25	+0.039%	$3.8M	$5.6M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.07	−0.039%	$1.0M	$350K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.22	+0.026%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.22	+0.026%	$743K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.21	+0.022%	$780K	$347K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.17	+0.003%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.18	+0.009%	$539	$167K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.10	−0.026%	$884	$472K	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-USDT	0.0000%	8h	232.57	+0.177%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0016%	8h	232.26	+0.043%	$47K	$59K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.34	+0.078%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERPshort	+0.0033%	1h	201.05	−13.400%	—	$57	12x
QFEX IBM-USD	+0.0043%	1h	232.13	−0.013%	$1.2M	$2.1M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.02	−0.060%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.98	−0.078%	$1.8M	$797K	10x	as long as short
KuCoin IBMUSDTMlong	+0.0100%	8h	232.16	long leg	$194K	$55K	20x