Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.017%

Price spread now: Aster against tradeXYZ+0.035%7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1521.524% of the position

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.035%, 7d avg +0.117%

Together, before fees−0.092%+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.082% cheaper against tradeXYZ than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.117%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:IBM	231.99	0.0050	pay 0.0006% / 1h	7m 33s	$1.8M	$808K	10x
Short	Aster IBMUSDT	232.07	0	get 0.0000% / 8h	2h 07m	$13K	$127K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$10.5
Price spread: +0.035% → +0.117%: −$8.17
Slippage, 4 orders: −$126.39
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$171.06
Costs to cover: 1.524%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 10 min ago; Aster: live order book, 38 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 tradeXYZ live order book, 10 min ago	1.51 bp	16.1 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 38 min ago	29.73 bp	64.9 bp −$65	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 IBMUSDTshort	0.0000%	8h	232.07	+0.035%	$13K	$127K	20x
Extended IBM-USD	0.0000%	1h	232.20	+0.092%	$53K	$239K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.27	+0.121%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.11	+0.052%	$984K	$340K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.29	+0.129%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.29	+0.129%	$753K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.24	+0.108%	$790K	$327K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.27	+0.123%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.28	+0.123%	$362	$162K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.06	+0.030%	$928	$473K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IBM-USDT	0.0000%	8h	232.42	+0.185%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0007%	8h	232.14	+0.065%	$46K	$52K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	232.18	+0.082%	$1.2M	$2.2M	10x	as long as short
Lighter IBM	+0.0032%	1h	232.04	+0.022%	$38K	$48K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.337%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.03	+0.017%	—	—	25x	as long as short
tradeXYZ xyz:IBMlong	+0.0050%	1h	231.99	long leg	$1.8M	$808K	10x
KuCoin IBMUSDTM	+0.0100%	8h	232.13	+0.060%	$195K	$42K	20x	as long as short