Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.017%

Price spread now: OKX against tradeXYZ0.000%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$540.541% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 7 days+0.055%+$6 · spread now 0.000%, 7d avg +0.081%

Together, before fees−0.054%+ Points / potential airdroptradeXYZ: Active · farm board−$5 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 OKX is 0.081% cheaper against tradeXYZ than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.081%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:IBM	231.23	0.0050	pay 0.0006% / 1h	59m 57s	$1.9M	$756K	10x
Short	OKX IBM-USDT-SWAP	231.23	0	get 0.0000% / 8h	4h 59m	$1.4M	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$10.5
Price spread: 0.000% → +0.081%: −$8.05
Slippage, 4 orders: −$26.13
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$72.68
Costs to cover: 0.541%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 8 min ago; OKX: live order book, 2 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, 8 min ago	1.51 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.94 bp	14.3 bp −$14	164.0 bp −$1,640	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	231.31	+0.037%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.26	+0.013%	$979K	$349K	50x	as long as short
OKX IBM-USDT-SWAPshort	0.0000%	8h	231.23	0.000%	$1.4M	$1.1M	20x
Gate IBM_USDT	0.0000%	8h	231.50	+0.117%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.55	+0.138%	$786K	$342K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.40	+0.075%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.56	+0.143%	$516	$158K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.24	+0.004%	$775	$485K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.66	+0.186%	$5K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0009%	8h	231.45	+0.095%	$47K	$51K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance IBMUSDT	+0.0020%	8h	231.37	+0.061%	$3.8M	$5.4M	20x	as long as short
Extended IBM-USD	+0.0024%	1h	231.35	+0.054%	$54K	$236K	10x	as long as short
Lighter IBM	+0.0032%	1h	231.38	+0.065%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.052%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0035%	1h	231.35	+0.052%	$1.2M	$2.6M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.30	+0.030%	—	—	25x	as long as short
tradeXYZ xyz:IBMlong	+0.0050%	1h	231.23	long leg	$1.9M	$756K	10x
KuCoin IBMUSDTM	+0.0100%	8h	231.42	+0.082%	$194K	$34K	20x	as long as short