Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.012%

Price spread now: Aster against QFEX−0.008%7-day average +0.036% · 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−$236as in the Price arb table

costs, in and out, $10k−$2322.315% of the position

Long on QFEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.024%−$2 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.008%, 7d avg +0.036%

Together, before fees−0.010%+ Points / potential airdropAster: Stage 5 · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.044% cheaper against QFEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	232.13	0.0043	pay 0.0005% / 1h	10m 51s	$1.2M	$2.1M	10x
Short	Aster IBMUSDT	232.11	0	get 0.0000% / 8h	10m 51s	$13K	$127K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against QFEX. 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 QFEXbpFee AsterbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$9
Price spread: −0.008% → +0.036%: −$4.43
Slippage, 4 orders: −$213.53
Fee QFEX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$244.97
Costs to cover: 2.315%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; Aster: live order book, 25 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 QFEX live order book, 6 min ago	1.94 bp	6.9 bp −$7	11.3 bp −$113	doesn't fit	doesn't fit
Sell Aster live order book, 25 min ago	40.00 bp	78.3 bp −$78	doesn't fit	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 IBMUSDTshort	0.0000%	8h	232.11	−0.008%	$13K	$127K	20x
Extended IBM-USD	0.0000%	1h	232.16	+0.012%	$53K	$311K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.21	+0.034%	$3.8M	$5.6M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.03	−0.043%	$1.0M	$349K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.12	−0.004%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.22	+0.039%	$743K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.21	+0.034%	$780K	$347K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.19	+0.026%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.21	+0.035%	$93	$168K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.10	−0.013%	$884	$471K	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	232.25	+0.052%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0010%	8h	232.26	+0.056%	$47K	$60K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.32	+0.082%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.389%	—	$57	12x	as long as short
QFEX IBM-USDlong	+0.0043%	1h	232.13	long leg	$1.2M	$2.1M	10x
Vest IBM-USD-PERP	+0.0046%	1h	232.05	−0.034%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.91	−0.095%	$1.8M	$799K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.16	+0.013%	$194K	$56K	20x	as long as short