Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.017%

Price spread now: Bybit against tradeXYZ+0.022%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

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

costs, in and out, $10k−$610.612% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now +0.022%, 7d avg +0.044%

Together, before fees−0.133%+ Points / potential airdroptradeXYZ: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.022% cheaper against tradeXYZ than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.044%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:IBM	231.15	0.0050	pay 0.0006% / 1h	39m 23s	$1.9M	$722K	10x
Short	Bybit IBMUSDT	231.20	0	get 0.0000% / 8h	6h 39m	$973K	$345K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$10.5
Price spread: +0.022% → +0.044%: −$2.23
Slippage, 4 orders: −$32.18
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$73.91
Costs to cover: 0.612%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 8 min ago; Bybit: live order book, 26 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 tradeXYZ live order book, 8 min ago	1.51 bp	16.2 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 26 min ago	4.11 bp	14.5 bp −$14	92.7 bp −$927	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	231.21	+0.028%	$13K	$127K	20x	as long as short
Bybit IBMUSDTshort	0.0000%	8h	231.20	+0.022%	$973K	$345K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	231.28	+0.056%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.32	+0.074%	$798K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.43	+0.121%	$792K	$339K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.41	+0.112%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.44	+0.124%	$194	$160K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.16	+0.004%	$1K	$487K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.83	+0.294%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0029%	1h	231.31	+0.069%	$1.2M	$3.1M	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IBM	+0.0032%	1h	231.42	+0.117%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.022%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.18	+0.013%	—	—	25x	as long as short
tradeXYZ xyz:IBMlong	+0.0050%	1h	231.15	long leg	$1.9M	$722K	10x
KuCoin IBMUSDTM	+0.0100%	8h	231.23	+0.035%	$194K	$33K	20x	as long as short
Extended IBM-USD	+0.0112%	1h	231.28	+0.054%	$54K	$235K	10x	as long as short
Binance IBMUSDT	+0.0112%	8h	231.33	+0.078%	$3.9M	$5.2M	20x	as long as short
BloFin IBM-USDT	+0.0122%	8h	231.18	+0.013%	$46K	$52K	20x	as long as short