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: Bitget against Bybit+0.056%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$550.546% of the position

Long on Bybit Short on Bitget

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)+0.001%$0 · spread now +0.056%, 7d avg +0.034%

Together, before fees+0.001%$0 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: Bitget is 0.022% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IBMUSDT	231.49	0	get 0.0000% / 8h	7h 52m	$977K	$358K	50x
Short	Bitget IBMUSDT	231.62	0	get 0.0000% / 8h	7h 52m	$793K	$372K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → +0.034%: $2.18
Slippage, 4 orders: −$31.59
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$52.41
Costs to cover: 0.546%
Break-even: never at this rate

Slippage from Bybit: live order book, 18 min ago; Bitget: 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 Bybit live order book, 18 min ago	2.16 bp	14.9 bp −$15	83.3 bp −$833	doesn't fit	doesn't fit
Sell Bitget live order book, 18 min ago	2.37 bp	17.2 bp −$17	61.4 bp −$614	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	231.78	+0.127%	$13K	$127K	20x	as long as short
Bybit IBMUSDTlong	0.0000%	8h	231.49	long leg	$977K	$358K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	231.61	+0.052%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.54	+0.022%	$797K	$1.5M	50x	as long as short
Bitget IBMUSDTshort	0.0000%	8h	231.62	+0.056%	$793K	$372K	20x
Variational Omni IBM	0.0000%	8h	231.65	+0.071%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.38	−0.048%	$1K	$522K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.03	+0.233%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0025%	1h	231.41	−0.035%	$1.2M	$3.3M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.48	−0.004%	$38K	$43K	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	−13.150%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.41	−0.035%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.40	−0.039%	$1.9M	$822K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.56	+0.030%	$195K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0203%	8h	231.68	+0.082%	$46K	$52K	20x	as long as short
Extended IBM-USD	+0.0216%	1h	231.58	+0.039%	$53K	$202K	10x	as long as short
Binance IBMUSDT	+0.0216%	8h	231.63	+0.061%	$3.9M	$5.6M	20x	as long as short
GRVT IBM_USDT_Perp	+0.0794%	8h	231.65	+0.068%	$584	$168K	10x	as long as short