Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.040%

Price spread now: Extended against Bitget−0.041%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

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

costs, in and out, $10k−$670.665% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 4 days (all we have)+0.015%+$1 · spread now −0.041%, 7d avg 0.000%

Together, before fees+0.095%+ Points / potential airdropExtended: Active · farm board+$10 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: Extended is 0.041% cheaper against Bitget than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IBMUSDT	231.46	0	get 0.0000% / 8h	4h 39m	$785K	$341K	20x
Short	Extended IBM-USD	231.37	0	get 0.0000% / 1h	39m 25s	$53K	$235K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → 0.000%: −$4.11
Slippage, 4 orders: −$49.51
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$70.61
Costs to cover: 0.665%
Break-even: never at this rate

Slippage from Bitget: live order book, 16 min ago; Extended: live order book, 18 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, 16 min ago	3.24 bp	21.2 bp −$21	46.9 bp −$469	doesn't fit	doesn't fit
Sell Extended live order book, 18 min ago	2.16 bp	15.8 bp −$16	170.8 bp −$1,708	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	−0.0016%	8h	231.34	−0.052%	$47K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.30	−0.069%	$13K	$127K	20x	as long as short
Extended IBM-USDshort	0.0000%	1h	231.37	−0.041%	$53K	$235K	10x
Binance IBMUSDT	0.0000%	8h	231.46	0.000%	$3.9M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.25	−0.091%	$980K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.45	−0.004%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.47	+0.004%	$804K	$1.4M	50x	as long as short
Bitget IBMUSDTlong	0.0000%	8h	231.46	long leg	$785K	$341K	20x
Variational Omni IBM	0.0000%	8h	231.38	−0.034%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.39	−0.030%	$467	$158K	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	231.24	−0.095%	$756	$482K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.83	+0.160%	$5K	$34K	20x	as long as short
tradeXYZ xyz:IBM	+0.0006%	1h	231.27	−0.082%	$1.9M	$756K	10x	as long as short
QFEX IBM-USD	+0.0026%	1h	231.37	−0.039%	$1.2M	$2.5M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.34	−0.052%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.138%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.33	−0.056%	—	—	25x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.37	−0.039%	$194K	$34K	20x	as long as short