Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0026%/8h= +2.9% APRpaid last 24h +0.014%

Price spread now: QFEX against SunX+0.009%7-day average +0.038% · you sell dearer than you buy

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

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.022%+$2 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.009%, 7d avg +0.038%

Together, before fees+0.011%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.030% cheaper against SunX than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.038%). If the spread goes back, that is −$3 on $10k: about 3.8 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	SunX IBM-USDT	231.46	0	get 0.0000% / 8h	4h 21m	$773	$483K	10x
Short	QFEX IBM-USD	231.48	0.0026	get 0.0003% / 1h	21m 32s	$1.2M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now +0.009%Rate

Funding earned: $5.49
Price spread: +0.009% → +0.038%: −$2.96
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$15.47
Costs to cover: 0.180%
Break-even: 26.7 days

Slippage unknown: SunX: live order book, 70 min ago; QFEX: live order book, 6 min ago. 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 SunX live order book, 70 min ago	500.37 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	1.73 bp	6.7 bp −$7	11.0 bp −$110	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	−0.0017%	8h	231.57	+0.048%	$47K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.47	+0.004%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.51	+0.022%	$54K	$237K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.57	+0.048%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.47	+0.004%	$981K	$348K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.54	+0.035%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.55	+0.039%	$805K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.51	+0.022%	$786K	$341K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.53	+0.031%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.56	+0.042%	$414	$159K	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-USDTlong	0.0000%	8h	231.46	long leg	$773	$483K	10x
HTX IBM-USDT	0.0000%	8h	231.99	+0.229%	$5K	$34K	20x	as long as short
QFEX IBM-USDshort	+0.0026%	1h	231.48	+0.009%	$1.2M	$2.4M	10x
Lighter IBM	+0.0032%	1h	231.39	−0.030%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.138%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.38	−0.035%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.36	−0.043%	$1.9M	$757K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.54	+0.035%	$194K	$34K	20x	as long as short