Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.011%

Price spread now: Variational Omni against tradeXYZ+0.038%7-day average +0.105% · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.059%−$6 on $10k

Price spread, last 4 days (all we have)+0.173%+$17 · spread now +0.038%, 7d avg +0.105%

Together, before fees+0.114%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board+$11 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 Variational Omni is 0.066% cheaper against tradeXYZ than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.105%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:IBM	232.13	0.0050	pay 0.0006% / 1h	43m 33s	$1.8M	$818K	10x
Short	Variational Omni IBM	232.22	0	get 0.0000% / 8h	1h 43m	$257K	$14K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.038%Rate

Funding earned: −$10.5
Price spread: +0.038% → +0.105%: −$6.61
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$35.11
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 4 min ago; Variational Omni: RFQ quote, just now. 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 tradeXYZ live order book, 4 min ago	1.08 bp	13.9 bp −$14	25.9 bp −$259	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	5.49 bp	doesn't fit	69.6 bp −$696	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	−0.0020%	8h	232.20	+0.030%	$47K	$56K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	232.20	+0.031%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.19	+0.025%	$57K	$238K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.24	+0.047%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.16	+0.013%	$1.0M	$356K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.20	+0.030%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.25	+0.052%	$752K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.22	+0.039%	$780K	$343K	20x	as long as short
Variational Omni IBMshort	0.0000%	8h	232.22	+0.038%	$257K	$14K	—
GRVT IBM_USDT_Perp	0.0000%	8h	232.29	+0.069%	$834	$164K	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-USDT	0.0000%	8h	232.07	−0.026%	$1K	$472K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.46	+0.142%	$6K	$33K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.31	+0.078%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.389%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.07	−0.026%	—	—	25x	as long as short
QFEX IBM-USD	+0.0049%	1h	232.18	+0.022%	$1.2M	$2.1M	10x	as long as short
tradeXYZ xyz:IBMlong	+0.0050%	1h	232.13	long leg	$1.8M	$818K	10x
KuCoin IBMUSDTM	+0.0100%	8h	232.20	+0.030%	$195K	$46K	20x	as long as short