Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h +0.034%

Price spread now: GRVT against tradeXYZ+0.076%46s7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$710.706% of the position

Long on tradeXYZ Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 4 days (all we have)+0.289%+$29 · spread now +0.076%, 7d avg +0.117%

Together, before fees+0.390%+ Points / potential airdroptradeXYZ: Active · GRVT: Active · farm board+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.041% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.076% now, against its 7-day average of +0.117%). If the spread goes back, that is −$4 on $10k: about 2.1 days of funding at the current rate (+$2 a day). The two prices were read 46 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	tradeXYZ xyz:IBM	232.10	0.0050	pay 0.0006% / 1h	36m 43s	$1.8M	$803K	10x
Short	GRVT IBM_USDT_Perp	232.28	0.0115	get 0.0115% / 8h	7h 36m	$376	$166K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.076%Rate

Funding earned: $13.65
Price spread: +0.076% → +0.117%: −$4.07
Slippage, 4 orders: −$43.65
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$61.07
Costs to cover: 0.706%
Break-even: 38.3 days

Slippage from tradeXYZ: live order book, 10 min ago; GRVT: live order book, 56 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, 10 min ago	1.51 bp	15.3 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 56 min ago	1.51 bp	25.9 bp −$26	doesn't fit	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	232.29	+0.081%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.17	+0.031%	$57K	$315K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.19	+0.038%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.09	−0.004%	$1.0M	$336K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.24	+0.060%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.27	+0.073%	$742K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.20	+0.043%	$780K	$322K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.26	+0.068%	$256K	$13K	—	as long as short
SunX IBM-USDT	0.0000%	8h	232.16	+0.026%	$989	$456K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.57	+0.202%	$6K	$33K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin IBM-USDT	+0.0013%	8h	232.22	+0.052%	$47K	$60K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.22	+0.052%	$38K	$45K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.378%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0036%	1h	232.11	+0.004%	$1.2M	$2.1M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.07	−0.013%	—	—	25x	as long as short
tradeXYZ xyz:IBMlong	+0.0050%	1h	232.10	long leg	$1.8M	$803K	10x
KuCoin IBMUSDTM	+0.0100%	8h	232.21	+0.047%	$195K	$79K	20x	as long as short
GRVT IBM_USDT_Perpshort	+0.0115%	8h	232.28	+0.076%	$376	$166K	10x