Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.031%

Price spread now: Binance against tradeXYZ+0.086%7-day average +0.121% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 7 days0.000%$0 · spread now +0.086%, 7d avg +0.121%

Together, before fees+0.019%+ Points / potential airdroptradeXYZ: Active · farm board+$2 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 Binance is 0.035% cheaper against tradeXYZ than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.121%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:IBM	231.30	0.0040	pay 0.0005% / 1h	32m 39s	$1.9M	$756K	10x
Short	Binance IBMUSDT	231.50	0	get 0.0000% / 8h	4h 32m	$3.9M	$5.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.086%Rate

Funding earned: −$8.47
Price spread: +0.086% → +0.121%: −$3.46
Slippage, 4 orders: −$17.09
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$57.02
Costs to cover: 0.451%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 5 min ago; Binance: live order book, 5 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, 5 min ago	1.51 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.22 bp	12.0 bp −$12	16.6 bp −$166	125.1 bp −$12.5K	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	231.35	+0.021%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.44	+0.061%	$53K	$235K	10x	as long as short
Binance IBMUSDTshort	0.0000%	8h	231.50	+0.086%	$3.9M	$5.4M	20x
Bybit IBMUSDT	0.0000%	8h	231.35	+0.022%	$980K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.46	+0.069%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.47	+0.073%	$804K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.47	+0.073%	$785K	$341K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.44	+0.062%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.47	+0.074%	$486	$159K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.40	+0.043%	$960	$482K	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	231.92	+0.268%	$5K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0026%	8h	231.40	+0.043%	$47K	$51K	20x	as long as short
QFEX IBM-USD	+0.0026%	1h	231.42	+0.052%	$1.2M	$2.5M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.37	+0.030%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.078%	—	$57	12x	as long as short
tradeXYZ xyz:IBMlong	+0.0040%	1h	231.30	long leg	$1.9M	$756K	10x
Vest IBM-USD-PERP	+0.0046%	1h	231.34	+0.017%	—	—	25x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.46	+0.069%	$194K	$34K	20x	as long as short