Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.017%

Price spread now: Bybit against tradeXYZ+0.069%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$560.563% of the position

Long on tradeXYZ Short on Bybit

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)−0.072%−$7 · spread now +0.069%, 7d avg +0.043%

Together, before fees−0.185%+ Points / potential airdroptradeXYZ: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.026% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.069% now, against its 7-day average of +0.043%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:IBM	231.96	0.0050	pay 0.0006% / 1h	24m 07s	$1.8M	$799K	10x
Short	Bybit IBMUSDT	232.12	0	get 0.0000% / 8h	1h 24m	$1.0M	$354K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$10.5
Price spread: +0.069% → +0.043%: $2.6
Slippage, 4 orders: −$27.33
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$64.23
Costs to cover: 0.563%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 4 min ago; Bybit: live order book, 1 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, 4 min ago	1.72 bp	14.3 bp −$14	26.2 bp −$262	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	3.88 bp	16.4 bp −$16	71.0 bp −$710	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
BloFin IBM-USDT	−0.0025%	8h	232.32	+0.155%	$47K	$56K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	232.09	+0.055%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.17	+0.092%	$57K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.20	+0.104%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDTshort	0.0000%	8h	232.12	+0.069%	$1.0M	$354K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	232.20	+0.103%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.20	+0.103%	$752K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.18	+0.095%	$780K	$343K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.25	+0.127%	$257K	$14K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.26	+0.128%	$799	$165K	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	232.07	+0.047%	$717	$475K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.40	+0.190%	$6K	$33K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.29	+0.142%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.326%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.07	+0.047%	—	—	25x	as long as short
QFEX IBM-USD	+0.0049%	1h	232.12	+0.069%	$1.2M	$2.1M	10x	as long as short
tradeXYZ xyz:IBMlong	+0.0050%	1h	231.96	long leg	$1.8M	$799K	10x
KuCoin IBMUSDTM	+0.0100%	8h	232.21	+0.108%	$195K	$46K	20x	as long as short