Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.028%

Price spread now: Extended against Variational Omni+0.010%7-day average −0.024% · you sell dearer than you buy

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.038%+$4 on $10k

Price spread, last 3 days (all we have)−0.182%−$18 · spread now +0.010%, 7d avg −0.024%

Together, before fees−0.144%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Extended is 0.034% dearer against Variational Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IBM	231.47	0	get 0.0000% / 8h	41m 17s	$256K	$15K	—
Short	Extended IBM-USD	231.49	0.0104	get 0.0013% / 1h	41m 17s	$54K	$202K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. 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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now +0.010%Rate

Funding earned: $21.84
Price spread: +0.010% → −0.024%: $3.39
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $20.23
Costs to cover: 0.050%
Break-even: 0.5 days

Slippage unknown: Variational Omni: RFQ quote, 38 min ago; Extended: live order book, 35 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 Variational Omni RFQ quote, 38 min ago	2.79 bp	doesn't fit	90.6 bp −$906	doesn't fit	doesn't fit
Sell Extended live order book, 35 min ago	1.51 bp	15.2 bp −$15	169.9 bp −$1,699	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	231.45	−0.007%	$13K	$126K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.38	−0.037%	$976K	$376K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.50	+0.015%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.48	+0.006%	$802K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.52	+0.023%	$798K	$405K	20x	as long as short
Variational Omni IBMlong	0.0000%	8h	231.47	long leg	$256K	$15K	—
SunX IBM-USDT	0.0000%	8h	231.26	−0.089%	$888	$534K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.93	+0.200%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0031%	1h	231.47	+0.002%	$1.2M	$3.3M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.54	+0.032%	$38K	$47K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.141%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.50	+0.015%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.35	−0.050%	$2.0M	$808K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.30	−0.072%	$194K	$34K	20x	as long as short
Extended IBM-USDshort	+0.0104%	1h	231.49	+0.010%	$54K	$202K	10x
Binance IBMUSDT	+0.0104%	8h	231.54	+0.031%	$3.9M	$5.8M	20x	as long as short
BloFin IBM-USDT	+0.0110%	8h	231.52	+0.023%	$46K	$52K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0364%	8h	231.48	+0.006%	$715	$170K	10x	as long as short