Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Variational Omni against Bybit+0.036%7-day average +0.059% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.307%+$31 · spread now +0.036%, 7d avg +0.059%

Together, before fees+0.313%+ Points / potential airdropVariational Omni: Active · farm board+$31 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: Variational Omni is 0.024% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IBMUSDT	231.28	0	get 0.0000% / 8h	6h 15m	$973K	$346K	50x
Short	Variational Omni IBM	231.36	0	get 0.0000% / 8h	6h 15m	$256K	$15K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.036%Rate

Funding earned: $0
Price spread: +0.036% → +0.059%: −$2.37
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$13.37
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 50 min ago; Variational Omni: RFQ quote, 53 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 Bybit live order book, 50 min ago	4.11 bp	15.1 bp −$15	83.7 bp −$837	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 53 min ago	3.24 bp	doesn't fit	83.6 bp −$836	doesn't fit	doesn't fit

IBM on 17 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	231.27	−0.006%	$13K	$127K	20x	as long as short
Bybit IBMUSDTlong	0.0000%	8h	231.28	long leg	$973K	$346K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	231.35	+0.030%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.36	+0.035%	$798K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.42	+0.061%	$791K	$338K	20x	as long as short
Variational Omni IBMshort	0.0000%	8h	231.36	+0.036%	$256K	$15K	—
SunX IBM-USDT	0.0000%	8h	231.12	−0.069%	$1K	$487K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.62	+0.147%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0029%	1h	231.31	+0.013%	$1.2M	$2.9M	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.071%	—	$57	12x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IBM-USD-PERP	+0.0046%	1h	231.22	−0.026%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.23	−0.022%	$1.9M	$723K	10x	as long as short
GRVT IBM_USDT_Perp	+0.0067%	8h	231.37	+0.038%	$315	$160K	10x	as long as short
Lighter IBM	+0.0096%	1h	231.51	+0.099%	$38K	$43K	10x	as long as short
Extended IBM-USD	+0.0096%	1h	231.31	+0.014%	$53K	$237K	10x	as long as short
Binance IBMUSDT	+0.0096%	8h	231.37	+0.039%	$3.9M	$5.2M	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.30	+0.009%	$194K	$33K	20x	as long as short