Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h +0.007%

Price spread now: QFEX against Variational Omni+0.046%7-day average −0.023% · you sell dearer than you buy

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

Long on Variational Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.224%−$22 · spread now +0.046%, 7d avg −0.023%

Together, before fees−0.209%+ Points / potential airdropVariational Omni: Active · farm board−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.068% dearer against Variational Omni than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IBM	231.66	0	get 0.0000% / 8h	3h 16m	$257K	$14K	—
Short	QFEX IBM-USD	231.77	0.0030	get 0.0004% / 1h	16m 08s	$1.2M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.046%Rate

Funding earned: $6.38
Price spread: +0.046% → −0.023%: $6.84
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: $3.22
Costs to cover: 0.100%
Break-even: 3.5 days

Slippage unknown: Variational Omni: RFQ quote, 38 min ago; QFEX: live order book, 6 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	47.0 bp −$470	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	12.30 bp	32.9 bp −$33	37.6 bp −$376	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	231.85	+0.082%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.82	+0.069%	$53K	$237K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.89	+0.097%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.68	+0.007%	$983K	$340K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.87	+0.089%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.86	+0.084%	$803K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.67	+0.002%	$786K	$332K	20x	as long as short
Variational Omni IBMlong	0.0000%	8h	231.66	long leg	$257K	$14K	—
GRVT IBM_USDT_Perp	0.0000%	8h	231.68	+0.007%	$739	$162K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.59	−0.032%	$936	$478K	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	232.24	+0.248%	$6K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0016%	8h	231.75	+0.037%	$47K	$51K	20x	as long as short
QFEX IBM-USDshort	+0.0030%	1h	231.77	+0.046%	$1.2M	$2.2M	10x
Lighter IBM	+0.0032%	1h	231.65	−0.006%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.215%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.69	+0.011%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0047%	1h	231.59	−0.032%	$1.9M	$777K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.77	+0.046%	$195K	$34K	20x	as long as short