Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.026%

Price spread now: Bybit against Binance−0.090%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 2 days (all we have)+0.004%$0 · spread now −0.090%, 7d avg −0.068%

Together, before fees−0.106%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.022% cheaper against Binance than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IBMUSDT	231.52	0	get 0.0000% / 8h	3h 30m	$3.9M	$5.7M	20x
Short	Bybit IBMUSDT	231.31	0	get 0.0000% / 8h	3h 30m	$973K	$375K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0
Price spread: −0.090% → −0.068%: −$2.22
Slippage, 4 orders: −$45.39
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$68.61
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; Bybit: live order book, 15 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 Binance live order book, 13 min ago	0.65 bp	10.9 bp −$11	51.7 bp −$517	172.1 bp −$17.2K	doesn't fit
Sell Bybit live order book, 15 min ago	5.19 bp	17.3 bp −$17	89.8 bp −$898	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	231.18	−0.145%	$13K	$124K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.49	−0.014%	$54K	$202K	10x	as long as short
Binance IBMUSDTlong	0.0000%	8h	231.52	long leg	$3.9M	$5.7M	20x
Bybit IBMUSDTshort	0.0000%	8h	231.31	−0.090%	$973K	$375K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	231.47	−0.021%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.44	−0.034%	$810K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.50	−0.008%	$823K	$392K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.47	−0.020%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.34	−0.078%	$9	$172K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.02	−0.215%	$774	$532K	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	231.82	+0.130%	$5K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0025%	8h	231.48	−0.017%	$46K	$52K	20x	as long as short
Lighter IBM	+0.0032%	1h	231.30	−0.094%	$38K	$50K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.160%	—	$57	12x	as long as short
tradeXYZ xyz:IBM	+0.0044%	1h	231.30	−0.094%	$2.0M	$790K	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.37	−0.064%	—	—	25x	as long as short
QFEX IBM-USD	+0.0049%	1h	231.49	−0.012%	$1.2M	$3.0M	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.24	−0.120%	$194K	$34K	20x	as long as short