Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h +0.014%

Price spread now: QFEX against SunX+0.082%7-day average +0.037% · you sell dearer than you buy

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

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.021%+$2 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now +0.082%, 7d avg +0.037%

Together, before fees−0.009%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.045% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX IBM-USDT	231.12	0	get 0.0000% / 8h	6h 14m	$1K	$487K	10x
Short	QFEX IBM-USD	231.31	0.0029	get 0.0004% / 1h	14m 53s	$1.2M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now +0.082%Rate

Funding earned: $6.18
Price spread: +0.082% → +0.037%: $4.48
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$7.34
Costs to cover: 0.180%
Break-even: 15.3 days

Slippage unknown: SunX: live order book, 26 min ago; QFEX: live order book, 3 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 SunX live order book, 26 min ago	514.47 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	1.95 bp	6.9 bp −$7	11.8 bp −$118	doesn't fit	doesn't fit

IBM on 17 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	231.27	+0.063%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.22	+0.043%	$973K	$346K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.30	+0.078%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.35	+0.100%	$798K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.42	+0.130%	$791K	$338K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.36	+0.105%	$256K	$15K	—	as long as short
SunX IBM-USDTlong	0.0000%	8h	231.12	long leg	$1K	$487K	10x
HTX IBM-USDT	0.0000%	8h	231.58	+0.199%	$5K	$34K	20x	as long as short
QFEX IBM-USDshort	+0.0029%	1h	231.31	+0.082%	$1.2M	$2.9M	10x
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.011%	—	$57	12x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IBM-USD-PERP	+0.0046%	1h	231.22	+0.043%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.23	+0.048%	$1.9M	$722K	10x	as long as short
GRVT IBM_USDT_Perp	+0.0067%	8h	231.37	+0.108%	$315	$160K	10x	as long as short
Lighter IBM	+0.0096%	1h	231.51	+0.169%	$38K	$43K	10x	as long as short
Extended IBM-USD	+0.0096%	1h	231.33	+0.091%	$53K	$237K	10x	as long as short
Binance IBMUSDT	+0.0096%	8h	231.37	+0.109%	$3.9M	$5.2M	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.31	+0.082%	$194K	$33K	20x	as long as short