Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h +0.007%

Price spread now: QFEX against Gate−0.039%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.083%−$8 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.039%, 7d avg −0.049%

Together, before fees−0.050%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.083%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IBM_USDT	232.09	0	get 0.0000% / 8h	2h 26m	$803K	$1.4M	50x
Short	QFEX IBM-USD	232.00	0.0030	get 0.0004% / 1h	26m 29s	$1.2M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $6.28
Price spread: −0.039% → −0.049%: $0.98
Slippage, 4 orders: −$30.72
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$48.45
Costs to cover: 0.557%
Break-even: 61.0 days

Slippage from Gate: live order book, 1 min ago; QFEX: live order book, 11 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 Gate live order book, 1 min ago	3.02 bp	14.0 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 11 min ago	2.15 bp	8.8 bp −$9	13.4 bp −$134	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	−0.0013%	8h	232.19	+0.043%	$46K	$52K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	232.08	−0.005%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.02	−0.032%	$57K	$234K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.06	−0.013%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.92	−0.073%	$983K	$340K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.03	−0.026%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDTlong	0.0000%	8h	232.09	long leg	$803K	$1.4M	50x
Bitget IBMUSDT	0.0000%	8h	232.09	0.000%	$789K	$325K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.18	+0.038%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.16	+0.029%	$77	$161K	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	232.01	−0.034%	$851	$476K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.38	+0.125%	$6K	$33K	20x	as long as short
QFEX IBM-USDshort	+0.0030%	1h	232.00	−0.039%	$1.2M	$2.2M	10x
Lighter IBM	+0.0032%	1h	232.03	−0.026%	$38K	$44K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.374%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.83	−0.112%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.75	−0.146%	$1.8M	$807K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.05	−0.017%	$195K	$39K	20x	as long as short