Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.017%

Price spread now: tradeXYZ against HTX−0.259%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 tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.259% cheaper against HTX than usual: you would sell low and buy high (spread −0.259% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 24 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	231.92	0	get 0.0000% / 8h	4h 33m	$5K	$34K	20x
Short	tradeXYZ xyz:IBM	231.32	0.0036	get 0.0005% / 1h	33m 44s	$1.9M	$756K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.259%Rate

Funding earned: $7.64
Price spread: −0.259% → 0.000%: −$25.87
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$48.24
Costs to cover: 0.300%
Break-even: 51.2 days

Slippage unknown: HTX: no order-book sample; tradeXYZ: 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 tradeXYZ live order book, 4 min ago	1.51 bp	10.9 bp −$11	18.3 bp −$183	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	231.36	−0.240%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.44	−0.206%	$53K	$235K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.50	−0.182%	$3.9M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.33	−0.254%	$980K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.46	−0.198%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.47	−0.194%	$804K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.47	−0.194%	$785K	$341K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.44	−0.205%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.47	−0.192%	$486	$159K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.40	−0.224%	$960	$482K	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-USDTlong	0.0000%	8h	231.92	long leg	$5K	$34K	20x
BloFin IBM-USDT	+0.0004%	8h	231.50	−0.181%	$47K	$51K	20x	as long as short
QFEX IBM-USD	+0.0026%	1h	231.40	−0.224%	$1.2M	$2.5M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.37	−0.237%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.311%	—	$57	12x	as long as short
tradeXYZ xyz:IBMshort	+0.0036%	1h	231.32	−0.259%	$1.9M	$756K	10x
Vest IBM-USD-PERP	+0.0046%	1h	231.34	−0.250%	—	—	25x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.45	−0.203%	$194K	$34K	20x	as long as short