Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.005%

Price spread now: Gate against Injective+15.141%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Gate is 15.141% dearer against Injective than usual: you sell high and buy low (spread +15.141% now, against zero (this spread has no 7-day history yet)): +$1,514 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about years.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective IBM/USDC PERP	201.05	0.0033	pay 0.0004% / 1h	2m 33s	—	$57	12x
Short	Gate IBM_USDT	231.49	0	get 0.0000% / 8h	7h 02m	$800K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now +15.141%Rate

Funding earned: −$7
Price spread: +15.141% → 0.000%: $1,514.05
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $1,492.03
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Gate: live order book, 5 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	7.78 bp	20.1 bp −$20	197.0 bp −$1,970	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	231.36	+15.076%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.34	+15.066%	$973K	$350K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.42	+15.106%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDTshort	0.0000%	8h	231.49	+15.141%	$800K	$1.5M	50x
Bitget IBMUSDT	0.0000%	8h	231.50	+15.145%	$792K	$347K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.42	+15.107%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.51	+15.149%	$405	$160K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.34	+15.066%	$1K	$489K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.66	+15.225%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0025%	1h	231.39	+15.091%	$1.2M	$3.2M	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	231.37	+15.081%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERPlong	+0.0033%	1h	201.05	long leg	—	$57	12x
Vest IBM-USD-PERP	+0.0046%	1h	231.39	+15.091%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.26	+15.026%	$1.9M	$721K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.40	+15.096%	$194K	$33K	20x	as long as short
Binance IBMUSDT	+0.0146%	8h	231.50	+15.147%	$3.9M	$5.3M	20x	as long as short
Extended IBM-USD	+0.0152%	1h	231.46	+15.125%	$53K	$234K	10x	as long as short
BloFin IBM-USDT	+0.0157%	8h	231.36	+15.076%	$664	$52K	20x	as long as short