Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.010%

Price spread now: Bitget against Injective+15.230%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 Bitget

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. Bitget is 15.230% dearer against Injective than usual: you sell high and buy low (spread +15.230% now, against zero (this spread has no 7-day history yet)): +$1,523 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	21m 14s	—	$57	12x
Short	Bitget IBMUSDT	231.67	0	get 0.0000% / 8h	3h 21m	$786K	$332K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +15.230%Rate

Funding earned: −$7
Price spread: +15.230% → 0.000%: $1,523
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $1,503.98
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 29 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 Bitget live order book, 29 min ago	2.38 bp	17.9 bp −$18	63.9 bp −$639	doesn't fit	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
BloFin IBM-USDT	−0.0011%	8h	231.72	+15.255%	$47K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.60	+15.193%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.65	+15.220%	$53K	$237K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.71	+15.252%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.55	+15.170%	$982K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.64	+15.215%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.65	+15.220%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDTshort	0.0000%	8h	231.67	+15.230%	$786K	$332K	20x
Variational Omni IBM	0.0000%	8h	231.61	+15.199%	$257K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.63	+15.210%	$111	$162K	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	231.46	+15.126%	$958	$477K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.90	+15.344%	$6K	$34K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.60	+15.195%	$1.2M	$2.3M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.58	+15.185%	$38K	$43K	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	231.57	+15.180%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.44	+15.116%	$1.9M	$768K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.69	+15.240%	$195K	$34K	20x	as long as short