Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.040%

Price spread now: Extended against Aster+0.050%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1561.561% of the position

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 4 days (all we have)−0.154%−$15 · spread now +0.050%, 7d avg −0.038%

Together, before fees−0.074%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.089% dearer against Aster than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster IBMUSDT	231.43	0	get 0.0000% / 8h	5h 30m	$13K	$127K	20x
Short	Extended IBM-USD	231.55	0.0056	get 0.0007% / 1h	30m 32s	$53K	$238K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Aster. 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 AsterbpFee ExtendedbpOrdersPrice spread, now +0.050%Rate

Funding earned: $11.76
Price spread: +0.050% → −0.038%: $8.86
Slippage, 4 orders: −$143.1
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$135.49
Costs to cover: 1.561%
Break-even: 87.6 days

Slippage from Aster: live order book, 30 min ago; Extended: live order book, 31 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 Aster live order book, 30 min ago	41.61 bp	51.5 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 31 min ago	1.08 bp	15.0 bp −$15	175.9 bp −$1,759	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 IBMUSDTlong	0.0000%	8h	231.43	long leg	$13K	$127K	20x
Bybit IBMUSDT	0.0000%	8h	231.45	+0.009%	$974K	$346K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.47	+0.018%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.55	+0.052%	$799K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.59	+0.069%	$789K	$338K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.57	+0.060%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.52	+0.041%	$519	$158K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.31	−0.052%	$766	$486K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.86	+0.186%	$5K	$33K	20x	as long as short
Lighter IBM	+0.0032%	1h	231.51	+0.035%	$38K	$43K	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	−13.127%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0035%	1h	231.52	+0.039%	$1.2M	$2.7M	10x	as long as short
BloFin IBM-USDT	+0.0041%	8h	231.62	+0.082%	$47K	$52K	20x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.36	−0.030%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.36	−0.030%	$1.9M	$726K	10x	as long as short
Extended IBM-USDshort	+0.0056%	1h	231.55	+0.050%	$53K	$238K	10x
Binance IBMUSDT	+0.0059%	8h	231.61	+0.080%	$3.9M	$5.3M	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.54	+0.048%	$194K	$33K	20x	as long as short