Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h +0.024%

Price spread now: Gate against Extended−0.004%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$660.663% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.004%, 7d avg +0.026%

Together, before fees+0.104%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.030% cheaper against Extended than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IBM-USD	231.49	0.0104	pay 0.0013% / 1h	40m 54s	$54K	$202K	10x
Short	Gate IBM_USDT	231.48	0	get 0.0000% / 8h	40m 54s	$802K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.004%Rate

Funding earned: −$21.84
Price spread: −0.004% → +0.026%: −$3.02
Slippage, 4 orders: −$46.32
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$91.18
Costs to cover: 0.663%
Break-even: never at this rate

Slippage from Extended: live order book, 36 min ago; Gate: 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 Extended live order book, 36 min ago	1.51 bp	15.5 bp −$15	122.6 bp −$1,226	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.81 bp	20.6 bp −$21	199.7 bp −$1,997	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	−0.017%	$13K	$126K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.38	−0.047%	$976K	$376K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.50	+0.004%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDTshort	0.0000%	8h	231.48	−0.004%	$802K	$1.5M	50x
Bitget IBMUSDT	0.0000%	8h	231.52	+0.013%	$798K	$405K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.47	−0.010%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.26	−0.099%	$888	$534K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.93	+0.190%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0031%	1h	231.47	−0.009%	$1.2M	$3.3M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.54	+0.022%	$38K	$47K	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	231.50	+0.004%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.35	−0.060%	$2.0M	$808K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.30	−0.082%	$194K	$34K	20x	as long as short
Extended IBM-USDlong	+0.0104%	1h	231.49	long leg	$54K	$202K	10x
Binance IBMUSDT	+0.0104%	8h	231.54	+0.022%	$3.9M	$5.8M	20x	as long as short
BloFin IBM-USDT	+0.0110%	8h	231.52	+0.013%	$46K	$52K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0364%	8h	231.48	−0.004%	$715	$170K	10x	as long as short