Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0216%/8h= −23.7% APRpaid last 24h −0.037%

Price spread now: Bitget against Extended+0.012%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$580.585% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now +0.012%, 7d avg −0.002%

Together, before fees−0.071%+ Points / potential airdropExtended: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.077% in total (about -4.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IBM-USD	231.59	0.0216	pay 0.0027% / 1h	50m 44s	$53K	$208K	10x
Short	Bitget IBMUSDT	231.62	0	get 0.0000% / 8h	7h 50m	$793K	$372K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Extended. 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 ExtendedbpFee BitgetbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$45.36
Price spread: +0.012% → −0.002%: $1.44
Slippage, 4 orders: −$41.46
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$102.39
Costs to cover: 0.585%
Break-even: never at this rate

Slippage from Extended: live order book, 21 min ago; Bitget: live order book, 20 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 Extended live order book, 21 min ago	1.30 bp	15.6 bp −$16	190.7 bp −$1,907	doesn't fit	doesn't fit
Sell Bitget live order book, 20 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	231.72	+0.054%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.52	−0.031%	$977K	$358K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.62	+0.012%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.60	+0.004%	$798K	$1.5M	50x	as long as short
Bitget IBMUSDTshort	0.0000%	8h	231.62	+0.012%	$793K	$372K	20x
Variational Omni IBM	0.0000%	8h	231.62	+0.012%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.63	+0.017%	$320	$169K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.44	−0.065%	$1K	$522K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.82	+0.099%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0025%	1h	231.57	−0.009%	$1.2M	$3.3M	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IBM	+0.0032%	1h	231.47	−0.052%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.188%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.40	−0.083%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.42	−0.074%	$1.9M	$824K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.57	−0.009%	$195K	$33K	20x	as long as short
Binance IBMUSDT	+0.0213%	8h	231.64	+0.021%	$3.9M	$5.6M	20x	as long as short
Extended IBM-USDlong	+0.0216%	1h	231.59	long leg	$53K	$208K	10x
BloFin IBM-USDT	+0.0239%	8h	231.70	+0.047%	$46K	$52K	20x	as long as short