Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h +0.030%

Price spread now: GRVT against QFEX−0.022%7-day average +0.032% · 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−$47as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.058%+$6 on $10k

Price spread, last 4 days (all we have)+0.325%+$32 · spread now −0.022%, 7d avg +0.032%

Together, before fees+0.383%+ Points / potential airdropGRVT: Active · farm board+$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GRVT is 0.055% cheaper against QFEX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.032%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.058%, so the current rate has only just turned against you.

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	46m 54s	$1.2M	$3.1M	10x
Short	GRVT IBM_USDT_Perp	231.26	0	get 0.0000% / 8h	6h 46m	$273	$161K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$6.18
Price spread: −0.022% → +0.032%: −$5.46
Slippage, 4 orders: −$22.92
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$53.56
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from QFEX: live order book, 11 min ago; GRVT: live order book, 16 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 QFEX live order book, 11 min ago	2.38 bp	8.1 bp −$8	14.3 bp −$143	doesn't fit	doesn't fit
Sell GRVT live order book, 16 min ago	2.81 bp	13.4 bp −$13	34.7 bp −$347	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	231.24	−0.032%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.25	−0.026%	$973K	$348K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.42	+0.048%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.33	+0.009%	$798K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.39	+0.035%	$791K	$343K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.28	−0.013%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perpshort	0.0000%	8h	231.26	−0.022%	$273	$161K	10x
SunX IBM-USDT	0.0000%	8h	231.12	−0.082%	$1K	$488K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.33	+0.009%	$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	231.25	−0.026%	$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	231.17	−0.061%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.14	−0.073%	$1.9M	$722K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.27	−0.017%	$194K	$33K	20x	as long as short
Binance IBMUSDT	+0.0118%	8h	231.40	+0.039%	$3.9M	$5.3M	20x	as long as short
Extended IBM-USD	+0.0120%	1h	231.34	+0.013%	$54K	$235K	10x	as long as short
BloFin IBM-USDT	+0.0122%	8h	231.18	−0.056%	$46K	$52K	20x	as long as short