Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.008%

Price spread now: Extended against KuCoin+0.032%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,324as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,305as in the Price arb table

costs, in and out, $10k−$1,30913.094% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$14 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.032%, 7d avg −0.014%

Together, before fees−0.205%+ Points / potential airdropExtended: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.045% dearer against KuCoin than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of −0.014%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IBMUSDTM	232.13	0.0100	pay 0.0100% / 8h	2h 09m	$195K	$42K	20x
Short	Extended IBM-USD	232.20	0	get 0.0000% / 1h	9m 20s	$53K	$239K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$21
Price spread: +0.032% → −0.014%: $4.54
Slippage, 4 orders: −$1,292.4
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$1,325.85
Costs to cover: 13.094%
Break-even: never at this rate

Slippage from KuCoin: live order book, 47 min ago; Extended: live order book, 38 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 KuCoin live order book, 47 min ago	6.25 bp	527.7 bp −$528	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 38 min ago	1.51 bp	15.1 bp −$15	125.9 bp −$1,259	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	232.08	−0.023%	$13K	$127K	20x	as long as short
Extended IBM-USDshort	0.0000%	1h	232.20	+0.032%	$53K	$239K	10x
Binance IBMUSDT	0.0000%	8h	232.27	+0.060%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.10	−0.013%	$984K	$340K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.26	+0.056%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.28	+0.065%	$753K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.24	+0.047%	$790K	$327K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.27	+0.062%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.28	+0.063%	$362	$162K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.06	−0.030%	$852	$474K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IBM-USDT	0.0000%	8h	232.40	+0.116%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0009%	8h	232.14	+0.004%	$46K	$52K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	232.20	+0.030%	$1.2M	$2.2M	10x	as long as short
Lighter IBM	+0.0032%	1h	232.04	−0.039%	$38K	$48K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.389%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.03	−0.043%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.99	−0.060%	$1.8M	$808K	10x	as long as short
KuCoin IBMUSDTMlong	+0.0100%	8h	232.13	long leg	$195K	$42K	20x