Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h −0.008%

Price spread now: Gate against QFEX+0.030%7-day average +0.049% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$460.460% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.084%+$8 on $10k

Price spread, last 7 days−0.017%−$2 · spread now +0.030%, 7d avg +0.049%

Together, before fees+0.066%+$7 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 paid +0.084%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	231.79	0.0030	pay 0.0004% / 1h	15m 18s	$1.2M	$2.2M	10x
Short	Gate IBM_USDT	231.86	0	get 0.0000% / 8h	3h 15m	$803K	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.030%Rate

Funding earned: −$6.38
Price spread: +0.030% → +0.049%: −$1.84
Slippage, 4 orders: −$21.04
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$54.26
Costs to cover: 0.460%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; Gate: live order book, 2 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, 2 min ago	1.94 bp	6.9 bp −$7	12.7 bp −$127	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	3.45 bp	14.0 bp −$14	181.0 bp −$1,810	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	−0.0022%	8h	231.95	+0.069%	$47K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.86	+0.031%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.82	+0.013%	$53K	$237K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.89	+0.043%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.73	−0.026%	$983K	$340K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.82	+0.013%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDTshort	0.0000%	8h	231.86	+0.030%	$803K	$1.4M	50x
Bitget IBMUSDT	0.0000%	8h	231.67	−0.052%	$786K	$332K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.84	+0.021%	$257K	$14K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.77	−0.010%	$86	$162K	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	231.68	−0.047%	$936	$478K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.19	+0.173%	$6K	$34K	20x	as long as short
QFEX IBM-USDlong	+0.0030%	1h	231.79	long leg	$1.2M	$2.2M	10x
Lighter IBM	+0.0032%	1h	231.67	−0.052%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.262%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.69	−0.043%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0048%	1h	231.61	−0.078%	$1.9M	$777K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.78	−0.004%	$195K	$34K	20x	as long as short