Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.030%

Price spread now: BloFin against QFEX−0.056%459s7-day average — · you buy dearer than you sell

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

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. BloFin is 0.056% cheaper against QFEX than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.0 days of funding at the current rate (+$3 a day). The two prices were read 459 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	231.31	0.0029	pay 0.0004% / 1h	41m 07s	$1.2M	$3.1M	10x
Short	BloFin IBM-USDT	231.18	0.0122	get 0.0122% / 8h	6h 41m	$46K	$52K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against QFEX. 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 QFEXbpFee BloFinbpOrdersPrice spread, now −0.056%Rate

Funding earned: $19.35
Price spread: −0.056% → 0.000%: −$5.62
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$8.27
Costs to cover: 0.220%
Break-even: 10.0 days

Slippage unknown: QFEX: live order book, 7 min ago; BloFin: 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 QFEX live order book, 7 min ago	1.51 bp	6.6 bp −$7	12.6 bp −$126	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

BloFin: 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	231.22	−0.037%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.22	−0.039%	$973K	$346K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.43	+0.052%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.42	+0.048%	$799K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.46	+0.065%	$792K	$339K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.41	+0.043%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.38	+0.030%	$266	$159K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.23	−0.035%	$1K	$488K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.83	+0.225%	$5K	$34K	20x	as long as short
QFEX IBM-USDlong	+0.0029%	1h	231.31	long leg	$1.2M	$3.1M	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IBM	+0.0032%	1h	231.39	+0.035%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.082%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.18	−0.056%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.19	−0.052%	$1.9M	$722K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.25	−0.026%	$194K	$33K	20x	as long as short
Extended IBM-USD	+0.0112%	1h	231.36	+0.023%	$54K	$235K	10x	as long as short
Binance IBMUSDT	+0.0114%	8h	231.42	+0.048%	$3.9M	$5.3M	20x	as long as short
BloFin IBM-USDTshort	+0.0122%	8h	231.18	−0.056%	$46K	$52K	20x