Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Bitget−0.104%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$750.749% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.104%, 7d avg −0.033%

Together, before fees+0.049%+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.070% cheaper against Bitget than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IBMUSDT	231.44	0	get 0.0000% / 8h	2h 00m	$801K	$399K	20x
Short	Bybit IBMUSDT	231.20	0	get 0.0000% / 8h	2h 00m	$974K	$381K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.104%Rate

Funding earned: $0
Price spread: −0.104% → −0.033%: −$7.02
Slippage, 4 orders: −$51.92
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$81.95
Costs to cover: 0.749%
Break-even: never at this rate

Slippage from Bitget: live order book, 20 min ago; Bybit: live order book, 19 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 Bitget live order book, 20 min ago	2.16 bp	26.5 bp −$26	68.4 bp −$684	doesn't fit	doesn't fit
Sell Bybit live order book, 19 min ago	3.46 bp	14.3 bp −$14	97.1 bp −$971	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	−0.0028%	8h	231.45	+0.004%	$46K	$52K	20x	as long as short
tradeXYZ xyz:IBM	−0.0022%	1h	231.19	−0.108%	$2.0M	$812K	10x	as long as short
Aster IBMUSDT	0.0000%	8h	231.03	−0.177%	$13K	$126K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.36	−0.033%	$54K	$202K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.39	−0.022%	$3.9M	$5.8M	20x	as long as short
Bybit IBMUSDTshort	0.0000%	8h	231.20	−0.104%	$974K	$381K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	231.36	−0.035%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.33	−0.048%	$806K	$1.5M	50x	as long as short
Bitget IBMUSDTlong	0.0000%	8h	231.44	long leg	$801K	$399K	20x
Variational Omni IBM	0.0000%	8h	231.34	−0.041%	$256K	$15K	—	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	231.32	−0.052%	$1K	$536K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.71	+0.117%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0018%	1h	231.40	−0.017%	$1.2M	$3.2M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.28	−0.069%	$38K	$50K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.131%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.19	−0.108%	—	—	25x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.11	−0.143%	$194K	$34K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0142%	8h	231.39	−0.020%	$789	$175K	10x	as long as short