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 0.000%

Price spread now: Bitget against OKX−0.056%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$520.521% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.065%+$6 · spread now −0.056%, 7d avg −0.007%

Together, before fees+0.061%+$6 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: Bitget is 0.049% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IBM-USDT-SWAP	232.09	0	get 0.0000% / 8h	2h 54m	$1.4M	$1.2M	20x
Short	Bitget IBMUSDT	231.96	0	get 0.0000% / 8h	2h 54m	$787K	$323K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.056%Rate

Funding earned: $0
Price spread: −0.056% → −0.007%: −$4.87
Slippage, 4 orders: −$30.07
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$56.94
Costs to cover: 0.521%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bitget: live order book, 56 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, 2 min ago	1.08 bp	13.6 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 56 min ago	2.38 bp	17.9 bp −$18	63.9 bp −$639	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	232.09	+0.002%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.09	0.000%	$53K	$234K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.15	+0.024%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.01	−0.034%	$984K	$337K	50x	as long as short
OKX IBM-USDT-SWAPlong	0.0000%	8h	232.09	long leg	$1.4M	$1.2M	20x
Gate IBM_USDT	0.0000%	8h	232.20	+0.047%	$808K	$1.4M	50x	as long as short
Bitget IBMUSDTshort	0.0000%	8h	231.96	−0.056%	$787K	$323K	20x
Variational Omni IBM	0.0000%	8h	232.13	+0.017%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.09	−0.002%	$777	$161K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.94	−0.065%	$976	$476K	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	232.42	+0.142%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0025%	8h	232.12	+0.013%	$47K	$52K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	232.05	−0.017%	$1.2M	$2.2M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.93	−0.069%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.374%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.95	−0.060%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.99	−0.043%	$1.8M	$795K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.03	−0.026%	$195K	$35K	20x	as long as short