Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Bitget−0.082%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$670.666% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.082%, 7d avg −0.036%

Together, before fees+0.024%+$2 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 0.046% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IBMUSDT	232.21	0	get 0.0000% / 8h	13m 53s	$780K	$348K	20x
Short	Bybit IBMUSDT	232.02	0	get 0.0000% / 8h	13m 53s	$1.0M	$350K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.082%Rate

Funding earned: $0
Price spread: −0.082% → −0.036%: −$4.57
Slippage, 4 orders: −$43.57
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$71.14
Costs to cover: 0.666%
Break-even: never at this rate

Slippage from Bitget: live order book, 22 min ago; Bybit: live order book, 1 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 Bitget live order book, 22 min ago	3.88 bp	18.6 bp −$19	49.9 bp −$499	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	3.45 bp	16.9 bp −$17	86.3 bp −$863	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	232.11	−0.043%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.17	−0.019%	$53K	$311K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.22	+0.006%	$3.8M	$5.6M	20x	as long as short
Bybit IBMUSDTshort	0.0000%	8h	232.02	−0.082%	$1.0M	$350K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	232.22	+0.004%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.20	−0.004%	$750K	$1.5M	50x	as long as short
Bitget IBMUSDTlong	0.0000%	8h	232.21	long leg	$780K	$348K	20x
Variational Omni IBM	0.0000%	8h	232.17	−0.019%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.17	−0.015%	$539	$167K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.10	−0.047%	$873	$472K	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	232.57	+0.155%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0013%	8h	232.19	−0.009%	$47K	$59K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.31	+0.043%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.419%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0043%	1h	232.12	−0.039%	$1.2M	$2.0M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.02	−0.082%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.96	−0.108%	$1.8M	$797K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.17	−0.017%	$194K	$55K	20x	as long as short