Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.048%

Price spread now: Binance against OKX+0.069%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$520.520% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 7 days−0.030%−$3 · spread now +0.069%, 7d avg +0.039%

Together, before fees+0.098%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.029% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IBM-USDT-SWAP	232.14	0	get 0.0000% / 8h	1h 05m	$1.4M	$1.2M	20x
Short	Binance IBMUSDT	232.30	0	get 0.0000% / 8h	1h 05m	$3.8M	$5.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → +0.039%: $2.95
Slippage, 4 orders: −$32.05
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$49.1
Costs to cover: 0.520%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Binance: 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 OKX live order book, 1 min ago	1.94 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.22 bp	14.8 bp −$15	38.3 bp −$383	151.1 bp −$15.1K	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
BloFin IBM-USDT	−0.0001%	8h	232.27	+0.056%	$47K	$55K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	232.21	+0.031%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.23	+0.040%	$53K	$298K	10x	as long as short
Binance IBMUSDTshort	0.0000%	8h	232.30	+0.069%	$3.8M	$5.5M	20x
Bybit IBMUSDT	0.0000%	8h	232.10	−0.017%	$1.0M	$354K	50x	as long as short
OKX IBM-USDT-SWAPlong	0.0000%	8h	232.14	long leg	$1.4M	$1.2M	20x
Gate IBM_USDT	0.0000%	8h	232.31	+0.073%	$751K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.25	+0.047%	$780K	$343K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.26	+0.054%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.28	+0.061%	$21	$166K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX IBM-USDT	0.0000%	8h	232.06	−0.034%	$993	$471K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.63	+0.211%	$6K	$33K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.29	+0.065%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.393%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.07	−0.030%	—	—	25x	as long as short
QFEX IBM-USD	+0.0049%	1h	232.19	+0.022%	$1.2M	$2.0M	10x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.98	−0.069%	$1.8M	$800K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.23	+0.039%	$195K	$45K	20x	as long as short