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: Bybit against OKX−0.073%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on OKX Short on Bybit

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)+0.026%+$3 · spread now −0.073%, 7d avg −0.044%

Together, before fees+0.022%+$2 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: Bybit is 0.030% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IBM-USDT-SWAP	231.38	0	get 0.0000% / 8h	4h 42m	$1.4M	$1.1M	20x
Short	Bybit IBMUSDT	231.21	0	get 0.0000% / 8h	4h 42m	$979K	$348K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.073%Rate

Funding earned: $0
Price spread: −0.073% → −0.044%: −$2.95
Slippage, 4 orders: −$38.59
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$62.54
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bybit: live order book, 13 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, 4 min ago	0.22 bp	12.7 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 13 min ago	2.81 bp	11.1 bp −$11	69.5 bp −$695	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	231.22	−0.070%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.33	−0.021%	$53K	$235K	10x	as long as short
Bybit IBMUSDTshort	0.0000%	8h	231.21	−0.073%	$979K	$348K	50x
OKX IBM-USDT-SWAPlong	0.0000%	8h	231.38	long leg	$1.4M	$1.1M	20x
Gate IBM_USDT	0.0000%	8h	231.43	+0.022%	$804K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.40	+0.009%	$785K	$341K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.35	−0.011%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.38	0.000%	$467	$158K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.23	−0.065%	$980	$482K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.88	+0.216%	$5K	$33K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance IBMUSDT	+0.0003%	8h	231.39	+0.004%	$3.9M	$5.4M	20x	as long as short
tradeXYZ xyz:IBM	+0.0003%	1h	231.21	−0.073%	$1.9M	$756K	10x	as long as short
BloFin IBM-USDT	+0.0012%	8h	231.37	−0.004%	$47K	$51K	20x	as long as short
QFEX IBM-USD	+0.0026%	1h	231.31	−0.030%	$1.2M	$2.5M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.33	−0.022%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.108%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.27	−0.048%	—	—	25x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.34	−0.017%	$194K	$34K	20x	as long as short