Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.038%

Price spread now: Binance against Injective+15.543%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Binance is 15.543% dearer against Injective than usual: you sell high and buy low (spread +15.543% now, against zero (this spread has no 7-day history yet)): +$1,554 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about years.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective IBM/USDC PERP	201.05	0.0033	pay 0.0004% / 1h	20m 38s	—	$57	12x
Short	Binance IBMUSDT	232.30	0	get 0.0000% / 8h	1h 20m	$3.8M	$5.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +15.543%Rate

Funding earned: −$7
Price spread: +15.543% → 0.000%: $1,554.34
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $1,537.32
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 2 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 2 min ago	1.29 bp	9.8 bp −$10	36.3 bp −$363	141.4 bp −$14.1K	doesn't fit

Injective: 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	232.17	+15.477%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.23	+15.507%	$57K	$233K	10x	as long as short
Binance IBMUSDTshort	0.0000%	8h	232.30	+15.543%	$3.8M	$5.5M	20x
Bybit IBMUSDT	0.0000%	8h	232.14	+15.464%	$1.0M	$355K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.22	+15.504%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.21	+15.499%	$752K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.24	+15.514%	$780K	$343K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.25	+15.518%	$257K	$14K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.23	+15.507%	$799	$165K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.07	+15.429%	$717	$475K	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	232.51	+15.648%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0013%	8h	232.30	+15.543%	$47K	$56K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.29	+15.538%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERPlong	+0.0033%	1h	201.05	long leg	—	$57	12x
Vest IBM-USD-PERP	+0.0046%	1h	232.05	+15.419%	—	—	25x	as long as short
QFEX IBM-USD	+0.0049%	1h	232.20	+15.494%	$1.2M	$2.1M	10x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	232.00	+15.394%	$1.8M	$800K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.22	+15.504%	$195K	$46K	20x	as long as short