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: Bitget against Gate−0.004%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$670.667% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now −0.004%, 7d avg −0.025%

Together, before fees−0.141%−$14 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 0.021% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IBM_USDT	231.52	0	get 0.0000% / 8h	4h 19m	$805K	$1.4M	50x
Short	Bitget IBMUSDT	231.51	0	get 0.0000% / 8h	4h 19m	$786K	$341K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Gate. 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 GatebpFee BitgetbpOrdersPrice spread, now −0.004%Rate

Funding earned: $0
Price spread: −0.004% → −0.025%: $2.1
Slippage, 4 orders: −$39.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$64.61
Costs to cover: 0.667%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Bitget: live order book, 36 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 Gate live order book, 2 min ago	3.67 bp	19.8 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 36 min ago	3.24 bp	13.3 bp −$13	70.5 bp −$705	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	−0.0002%	8h	231.57	+0.022%	$47K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.46	−0.026%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.52	−0.001%	$54K	$237K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.59	+0.029%	$3.9M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.43	−0.039%	$981K	$348K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.52	0.000%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDTlong	0.0000%	8h	231.52	long leg	$805K	$1.4M	50x
Bitget IBMUSDTshort	0.0000%	8h	231.51	−0.004%	$786K	$341K	20x
Variational Omni IBM	0.0000%	8h	231.53	+0.005%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.56	+0.016%	$414	$159K	10x	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	231.47	−0.022%	$782	$483K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.99	+0.203%	$5K	$33K	20x	as long as short
QFEX IBM-USD	+0.0026%	1h	231.48	−0.017%	$1.2M	$2.4M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.40	−0.052%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.161%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.38	−0.060%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.39	−0.056%	$1.9M	$757K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.54	+0.009%	$194K	$34K	20x	as long as short