Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.030%

Price spread now: BloFin against QFEX−0.022%99s7-day average — · you buy dearer than you sell

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

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. BloFin is 0.022% cheaper against QFEX than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 21 hours of funding at the current rate (+$3 a day). The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	231.40	0.0029	pay 0.0004% / 1h	57m 16s	$1.2M	$3.2M	10x
Short	BloFin IBM-USDT	231.35	0.0113	get 0.0113% / 8h	6h 57m	$46K	$52K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.022%Rate

Funding earned: $17.65
Price spread: −0.022% → 0.000%: −$2.16
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$6.51
Costs to cover: 0.220%
Break-even: 9.6 days

Slippage unknown: QFEX: live order book, 11 min ago; BloFin: no order-book sample. 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 QFEX live order book, 11 min ago	1.73 bp	6.8 bp −$7	12.6 bp −$126	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

BloFin: 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	231.34	−0.026%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.33	−0.030%	$974K	$350K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.46	+0.026%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.43	+0.013%	$800K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.50	+0.043%	$792K	$343K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.45	+0.020%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.51	+0.049%	$405	$160K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.30	−0.043%	$962	$489K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.91	+0.220%	$5K	$34K	20x	as long as short
QFEX IBM-USDlong	+0.0029%	1h	231.40	long leg	$1.2M	$3.2M	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IBM	+0.0032%	1h	231.38	−0.009%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.116%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.40	0.000%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.29	−0.048%	$1.9M	$721K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.38	−0.009%	$194K	$33K	20x	as long as short
BloFin IBM-USDTshort	+0.0113%	8h	231.35	−0.022%	$46K	$52K	20x
Binance IBMUSDT	+0.0136%	8h	231.48	+0.033%	$3.9M	$5.3M	20x	as long as short
Extended IBM-USD	+0.0136%	1h	231.42	+0.008%	$53K	$234K	10x	as long as short