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: OKX against Bybit+0.069%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$500.505% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.069%, 7d avg +0.044%

Together, before fees−0.025%−$3 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: OKX is 0.025% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IBMUSDT	231.47	0	get 0.0000% / 8h	3h 40m	$982K	$347K	50x
Short	OKX IBM-USDT-SWAP	231.63	0	get 0.0000% / 8h	3h 40m	$1.4M	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → +0.044%: $2.52
Slippage, 4 orders: −$29.46
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$47.94
Costs to cover: 0.505%
Break-even: never at this rate

Slippage from Bybit: live order book, 10 min ago; OKX: 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 Bybit live order book, 10 min ago	3.03 bp	13.7 bp −$14	87.6 bp −$876	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.22 bp	18.0 bp −$18	174.6 bp −$1,746	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	231.45	−0.008%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.54	+0.031%	$53K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.61	+0.060%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDTlong	0.0000%	8h	231.47	long leg	$982K	$347K	50x
OKX IBM-USDT-SWAPshort	0.0000%	8h	231.63	+0.069%	$1.4M	$1.1M	20x
Gate IBM_USDT	0.0000%	8h	231.58	+0.048%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.61	+0.060%	$786K	$335K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.57	+0.045%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.61	+0.060%	$320	$160K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.46	−0.004%	$880	$477K	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	231.88	+0.177%	$6K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0020%	8h	231.62	+0.065%	$46K	$51K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.52	+0.022%	$1.2M	$2.3M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.44	−0.013%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.142%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.39	−0.035%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.38	−0.039%	$1.9M	$763K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.59	+0.052%	$195K	$34K	20x	as long as short