Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.014%

Price spread now: QFEX against HTX−0.177%7-day average — · you buy dearer than you sell

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

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. QFEX is 0.177% cheaper against HTX than usual: you would sell low and buy high (spread −0.177% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 19 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	HTX IBM-USDT	231.83	0	get 0.0000% / 8h	38m 25s	$5K	$34K	20x
Short	QFEX IBM-USD	231.42	0.0031	get 0.0004% / 1h	38m 25s	$1.2M	$3.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against HTX. 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 HTXbpFee QFEXbpOrdersPrice spread, now −0.177%Rate

Funding earned: $6.45
Price spread: −0.177% → 0.000%: −$17.69
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$33.23
Costs to cover: 0.220%
Break-even: 43.1 days

Slippage unknown: HTX: no order-book sample; QFEX: live order book, 4 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 HTX no order-book sample	—	—	—	—	—
Sell QFEX live order book, 4 min ago	1.51 bp	6.5 bp −$7	12.2 bp −$122	doesn't fit	doesn't fit

HTX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	231.50	−0.143%	$13K	$126K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.36	−0.203%	$976K	$376K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.50	−0.142%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.49	−0.147%	$802K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.52	−0.134%	$798K	$405K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.51	−0.140%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.23	−0.259%	$948	$534K	10x	as long as short
HTX IBM-USDTlong	0.0000%	8h	231.83	long leg	$5K	$34K	20x
QFEX IBM-USDshort	+0.0031%	1h	231.42	−0.177%	$1.2M	$3.3M	10x
Lighter IBM	+0.0032%	1h	231.54	−0.125%	$38K	$47K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.277%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.48	−0.151%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.35	−0.207%	$2.0M	$809K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.30	−0.229%	$194K	$34K	20x	as long as short
Extended IBM-USD	+0.0112%	1h	231.46	−0.161%	$54K	$202K	10x	as long as short
Binance IBMUSDT	+0.0113%	8h	231.49	−0.146%	$3.9M	$5.8M	20x	as long as short
BloFin IBM-USDT	+0.0120%	8h	231.52	−0.134%	$46K	$52K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0368%	8h	231.50	−0.142%	$715	$170K	10x	as long as short