Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h −0.027%

Price spread now: Variational Omni against Extended−0.122%7-day average +0.026% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.037%−$4 on $10k

Price spread, last 3 days (all we have)+0.421%+$42 · spread now −0.122%, 7d avg +0.026%

Together, before fees+0.384%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$38 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 0.148% cheaper against Extended than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IBM-USD	230.48	0	get 0.0000% / 1h	4m 42s	$54K	$202K	10x
Short	Variational Omni IBM	230.19	0	get 0.0000% / 8h	4h 04m	$255K	$15K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.122%Rate

Funding earned: $0
Price spread: −0.122% → +0.026%: −$14.81
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.81
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 26 min ago; Variational Omni: RFQ quote, 28 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 Extended live order book, 26 min ago	1.52 bp	16.5 bp −$16	158.3 bp −$1,583	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 28 min ago	5.98 bp	doesn't fit	94.5 bp −$945	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	−0.0008%	8h	230.46	−0.007%	$47K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	230.42	−0.024%	$14K	$124K	20x	as long as short
Extended IBM-USDlong	0.0000%	1h	230.48	long leg	$54K	$202K	10x
Binance IBMUSDT	0.0000%	8h	230.54	+0.028%	$4.1M	$5.2M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	230.39	−0.037%	$969K	$353K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	230.50	+0.010%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	230.40	−0.033%	$818K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	230.44	−0.016%	$813K	$374K	20x	as long as short
Variational Omni IBMshort	0.0000%	8h	230.19	−0.122%	$255K	$15K	—
GRVT IBM_USDT_Perp	0.0000%	8h	230.13	−0.149%	$304	$168K	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	230.24	−0.102%	$921	$524K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	230.65	+0.075%	$5K	$33K	20x	as long as short
Lighter IBM	+0.0032%	1h	230.37	−0.046%	$38K	$50K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−12.768%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0038%	1h	230.44	−0.016%	$1.2M	$3.0M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	230.30	−0.076%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	230.44	−0.016%	$2.0M	$708K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	230.35	−0.055%	$195K	$34K	20x	as long as short