Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.012%

Price spread now: QFEX against Bitget−0.065%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$480.483% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)+0.104%+$10 · spread now −0.065%, 7d avg 0.000%

Together, before fees+0.128%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.065% cheaper against Bitget than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of 0.000%). If the spread goes back, that is −$7 on $10k: about 6.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IBMUSDT	232.26	0	get 0.0000% / 8h	7h 37m	$780K	$322K	20x
Short	QFEX IBM-USD	232.11	0.0036	get 0.0005% / 1h	37m 42s	$1.2M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.065%Rate

Funding earned: $7.58
Price spread: −0.065% → 0.000%: −$6.5
Slippage, 4 orders: −$26.3
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$47.22
Costs to cover: 0.483%
Break-even: 50.6 days

Slippage from Bitget: live order book, 58 min ago; QFEX: live order book, 5 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, 58 min ago	3.88 bp	18.6 bp −$19	49.9 bp −$499	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.51 bp	7.9 bp −$8	14.2 bp −$142	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	232.30	+0.016%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.20	−0.028%	$57K	$315K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.26	−0.001%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.12	−0.060%	$1.0M	$336K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.22	−0.017%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.24	−0.009%	$742K	$1.4M	50x	as long as short
Bitget IBMUSDTlong	0.0000%	8h	232.26	long leg	$780K	$322K	20x
Variational Omni IBM	0.0000%	8h	232.26	−0.001%	$256K	$13K	—	as long as short
SunX IBM-USDT	0.0000%	8h	232.16	−0.043%	$989	$456K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.50	+0.103%	$6K	$33K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin IBM-USDT	+0.0013%	8h	232.28	+0.009%	$47K	$60K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.23	−0.013%	$38K	$45K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.438%	—	$57	12x	as long as short
QFEX IBM-USDshort	+0.0036%	1h	232.11	−0.065%	$1.2M	$2.1M	10x
Vest IBM-USD-PERP	+0.0046%	1h	232.09	−0.073%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	232.10	−0.069%	$1.8M	$803K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.21	−0.022%	$194K	$78K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0107%	8h	232.29	+0.013%	$439	$168K	10x	as long as short