Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.014%

Price spread now: QFEX against Aster−0.119%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1391.387% of the position

Long on Aster Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.021%+$2 on $10k

Price spread, last 4 days (all we have)+0.115%+$11 · spread now −0.119%, 7d avg −0.039%

Together, before fees+0.136%+ Points / potential airdropAster: Stage 5 · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.080% cheaper against Aster than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.039%). If the spread goes back, that is −$8 on $10k: about 8.7 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	Aster IBMUSDT	231.81	0	get 0.0000% / 8h	14m 28s	$13K	$127K	20x
Short	QFEX IBM-USD	231.53	0.0031	get 0.0004% / 1h	14m 28s	$1.2M	$3.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Aster. 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 AsterbpFee QFEXbpOrdersPrice spread, now −0.119%Rate

Funding earned: $6.45
Price spread: −0.119% → −0.039%: −$8.03
Slippage, 4 orders: −$120.66
Fee Aster: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$140.23
Costs to cover: 1.387%
Break-even: 159.2 days

Slippage from Aster: live order book, 61 min ago; QFEX: live order book, 3 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 Aster live order book, 61 min ago	32.39 bp	56.0 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	1.51 bp	6.5 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
Aster IBMUSDTlong	0.0000%	8h	231.81	long leg	$13K	$127K	20x
Bybit IBMUSDT	0.0000%	8h	231.43	−0.162%	$976K	$376K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.50	−0.132%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.53	−0.119%	$797K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.61	−0.084%	$798K	$403K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.57	−0.101%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.31	−0.214%	$1K	$535K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.98	+0.075%	$5K	$34K	20x	as long as short
QFEX IBM-USDshort	+0.0031%	1h	231.53	−0.119%	$1.2M	$3.3M	10x
Lighter IBM	+0.0032%	1h	231.54	−0.115%	$38K	$47K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.268%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.40	−0.175%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.38	−0.184%	$2.0M	$810K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.45	−0.153%	$194K	$34K	20x	as long as short
Extended IBM-USD	+0.0192%	1h	231.57	−0.104%	$54K	$202K	10x	as long as short
Binance IBMUSDT	+0.0193%	8h	231.61	−0.084%	$3.9M	$5.8M	20x	as long as short
BloFin IBM-USDT	+0.0207%	8h	231.69	−0.050%	$46K	$52K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0432%	8h	231.57	−0.103%	$621	$170K	10x	as long as short