Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.016%

Price spread now: OKX against tradeXYZ+0.121%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$500.495% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 7 days−0.088%−$9 · spread now +0.121%, 7d avg +0.082%

Together, before fees−0.197%+ Points / potential airdroptradeXYZ: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.039% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.121% now, against its 7-day average of +0.082%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:IBM	231.92	0.0050	pay 0.0006% / 1h	6m 17s	$1.8M	$800K	10x
Short	OKX IBM-USDT-SWAP	232.20	0	get 0.0000% / 8h	6m 17s	$1.4M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.121%Rate

Funding earned: −$10.5
Price spread: +0.121% → +0.082%: $3.88
Slippage, 4 orders: −$21.52
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$56.13
Costs to cover: 0.495%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 1 min ago; OKX: live order book, 5 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, 1 min ago	1.94 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.86 bp	8.4 bp −$8	152.1 bp −$1,521	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	232.06	+0.061%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.13	+0.092%	$53K	$311K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.18	+0.112%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.00	+0.034%	$1.0M	$349K	50x	as long as short
OKX IBM-USDT-SWAPshort	0.0000%	8h	232.20	+0.121%	$1.4M	$1.2M	20x
Gate IBM_USDT	0.0000%	8h	232.23	+0.134%	$743K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.19	+0.116%	$780K	$346K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.19	+0.117%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.21	+0.125%	$93	$168K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.02	+0.043%	$900	$471K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IBM-USDT	0.0000%	8h	232.48	+0.241%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0004%	8h	232.24	+0.138%	$47K	$60K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.32	+0.172%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.311%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0043%	1h	232.10	+0.078%	$1.2M	$2.1M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.01	+0.039%	—	—	25x	as long as short
tradeXYZ xyz:IBMlong	+0.0050%	1h	231.92	long leg	$1.8M	$800K	10x
KuCoin IBMUSDTM	+0.0100%	8h	232.12	+0.086%	$194K	$55K	20x	as long as short