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: Bitget against Bybit+0.086%7-day average +0.034% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

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

Long on Bybit Short on Bitget

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)−0.037%−$4 · spread now +0.086%, 7d avg +0.034%

Together, before fees−0.037%−$4 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: Bitget is 0.052% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IBMUSDT	231.24	0	get 0.0000% / 8h	1h 49m	$974K	$380K	50x
Short	Bitget IBMUSDT	231.44	0	get 0.0000% / 8h	1h 49m	$798K	$400K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → +0.034%: $5.22
Slippage, 4 orders: −$51.92
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$69.71
Costs to cover: 0.749%
Break-even: never at this rate

Slippage from Bybit: live order book, 31 min ago; Bitget: 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 Bybit live order book, 31 min ago	3.46 bp	16.4 bp −$16	94.8 bp −$948	doesn't fit	doesn't fit
Sell Bitget live order book, 31 min ago	2.16 bp	17.7 bp −$18	51.9 bp −$519	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	−0.0022%	8h	231.44	+0.086%	$46K	$52K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.05	−0.080%	$13K	$126K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.40	+0.067%	$54K	$202K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.43	+0.082%	$3.9M	$5.8M	20x	as long as short
Bybit IBMUSDTlong	0.0000%	8h	231.24	long leg	$974K	$380K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	231.34	+0.043%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.30	+0.026%	$807K	$1.5M	50x	as long as short
Bitget IBMUSDTshort	0.0000%	8h	231.44	+0.086%	$798K	$400K	20x
Variational Omni IBM	0.0000%	8h	231.36	+0.050%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.27	+0.013%	$770	$536K	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	231.83	+0.255%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0016%	1h	231.38	+0.061%	$1.2M	$3.2M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.38	+0.061%	$38K	$50K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.056%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.19	−0.022%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.20	−0.017%	$2.0M	$813K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.22	−0.009%	$194K	$34K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0192%	8h	231.43	+0.082%	$782	$175K	10x	as long as short