Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h +0.013%

Price spread now: QFEX against OKX−0.073%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$430.429% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.019%+$2 on $10k

Price spread, last 7 days+0.090%+$9 · spread now −0.073%, 7d avg −0.016%

Together, before fees+0.109%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.057% cheaper against OKX than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of −0.016%). If the spread goes back, that is −$6 on $10k: about 6.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IBM-USDT-SWAP	231.64	0	get 0.0000% / 8h	3h 48m	$1.4M	$1.1M	20x
Short	QFEX IBM-USD	231.47	0.0030	get 0.0004% / 1h	48m 21s	$1.2M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.073%Rate

Funding earned: $6.38
Price spread: −0.073% → −0.016%: −$5.7
Slippage, 4 orders: −$22.9
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$42.22
Costs to cover: 0.429%
Break-even: 53.3 days

Slippage from OKX: live order book, 3 min ago; QFEX: live order book, 4 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, 3 min ago	0.22 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.73 bp	6.7 bp −$7	10.9 bp −$109	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
BloFin IBM-USDT	−0.0009%	8h	231.52	−0.052%	$46K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.41	−0.099%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.50	−0.060%	$54K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.55	−0.038%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.42	−0.095%	$982K	$347K	50x	as long as short
OKX IBM-USDT-SWAPlong	0.0000%	8h	231.64	long leg	$1.4M	$1.1M	20x
Gate IBM_USDT	0.0000%	8h	231.55	−0.039%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.55	−0.039%	$786K	$337K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.55	−0.037%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.56	−0.033%	$933	$160K	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	231.42	−0.095%	$1K	$476K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.83	+0.082%	$6K	$34K	20x	as long as short
QFEX IBM-USDshort	+0.0030%	1h	231.47	−0.073%	$1.2M	$2.3M	10x
Lighter IBM	+0.0032%	1h	231.43	−0.091%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.206%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.34	−0.130%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.28	−0.155%	$1.9M	$763K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.59	−0.022%	$195K	$34K	20x	as long as short