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 −0.013%

Price spread now: HTX against QFEX+0.164%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on HTX

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. HTX is 0.164% dearer against QFEX than usual: you sell high and buy low (spread +0.164% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	231.53	0.0030	pay 0.0004% / 1h	39m 15s	$1.2M	$2.3M	10x
Short	HTX IBM-USDT	231.91	0	get 0.0000% / 8h	3h 39m	$6K	$34K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.164%Rate

Funding earned: −$6.38
Price spread: +0.164% → 0.000%: $16.41
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$11.97
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 3 min ago; HTX: 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, 3 min ago	2.16 bp	7.2 bp −$7	11.1 bp −$111	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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
BloFin IBM-USDT	−0.0023%	8h	231.62	+0.039%	$46K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.46	−0.031%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.53	+0.002%	$53K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.60	+0.031%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.47	−0.026%	$982K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.58	+0.022%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.58	+0.022%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.62	+0.039%	$786K	$335K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.57	+0.019%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.62	+0.037%	$164	$160K	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	231.46	−0.030%	$880	$476K	10x	as long as short
HTX IBM-USDTshort	0.0000%	8h	231.91	+0.164%	$6K	$34K	20x
QFEX IBM-USDlong	+0.0030%	1h	231.53	long leg	$1.2M	$2.3M	10x
Lighter IBM	+0.0032%	1h	231.45	−0.035%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.165%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.40	−0.056%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.38	−0.065%	$1.9M	$763K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.58	+0.022%	$195K	$34K	20x	as long as short