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 +0.006%

Price spread now: Variational Omni against Bybit+0.028%7-day average +0.060% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.264%+$26 · spread now +0.028%, 7d avg +0.060%

Together, before fees+0.270%+ Points / potential airdropVariational Omni: Active · farm board+$27 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: Variational Omni is 0.032% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IBMUSDT	231.49	0	get 0.0000% / 8h	4h 12m	$982K	$347K	50x
Short	Variational Omni IBM	231.55	0	get 0.0000% / 8h	4h 12m	$256K	$15K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → +0.060%: −$3.17
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$14.17
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 43 min ago; Variational Omni: RFQ quote, 46 min ago. Net counts fees only.

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, 43 min ago	2.81 bp	16.1 bp −$16	88.5 bp −$885	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 46 min ago	2.79 bp	doesn't fit	20.9 bp −$209	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	−0.0020%	8h	231.58	+0.039%	$47K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.47	−0.010%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.51	+0.011%	$54K	$237K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.58	+0.037%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDTlong	0.0000%	8h	231.49	long leg	$982K	$347K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	231.54	+0.022%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.54	+0.022%	$805K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.57	+0.035%	$786K	$337K	20x	as long as short
Variational Omni IBMshort	0.0000%	8h	231.55	+0.028%	$256K	$15K	—
GRVT IBM_USDT_Perp	0.0000%	8h	231.54	+0.021%	$572	$159K	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	231.48	−0.004%	$803	$480K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.94	+0.194%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0026%	1h	231.50	+0.004%	$1.2M	$2.4M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.38	−0.048%	$38K	$43K	10x	as long as short
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	231.39	−0.043%	$1.9M	$757K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.55	+0.026%	$194K	$34K	20x	as long as short