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: SunX against QFEX−0.073%7-day average −0.038% · you buy dearer than you sell

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

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.023%−$2 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.073%, 7d avg −0.038%

Together, before fees+0.029%+$3 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 SunX is 0.035% cheaper against QFEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	231.95	0.0030	pay 0.0004% / 1h	3m 40s	$1.2M	$2.2M	10x
Short	SunX IBM-USDT	231.78	0	get 0.0000% / 8h	3h 03m	$946	$477K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$6.38
Price spread: −0.073% → −0.038%: −$3.52
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$27.91
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 4 min ago; SunX: live order book, 7 min ago. 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, 4 min ago	2.16 bp	7.2 bp −$7	11.8 bp −$118	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	500.33 bp	doesn't fit	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 IBMUSDT	0.0000%	8h	231.86	−0.039%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.98	+0.013%	$53K	$234K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.06	+0.046%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.87	−0.034%	$983K	$340K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.94	−0.004%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.03	+0.034%	$804K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.77	−0.078%	$786K	$323K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.00	+0.021%	$257K	$14K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.98	+0.013%	$72	$162K	10x	as long as short
SunX IBM-USDTshort	0.0000%	8h	231.78	−0.073%	$946	$477K	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IBM-USDT	0.0000%	8h	232.26	+0.134%	$6K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0029%	8h	232.05	+0.043%	$47K	$52K	20x	as long as short
QFEX IBM-USDlong	+0.0030%	1h	231.95	long leg	$1.2M	$2.2M	10x
Lighter IBM	+0.0032%	1h	231.84	−0.047%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.322%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.82	−0.056%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.74	−0.091%	$1.9M	$769K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.92	−0.013%	$195K	$35K	20x	as long as short