Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.036%

Price spread now: KuCoin against Injective+15.195%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 KuCoin

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 15.195% dearer against Injective than usual: you sell high and buy low: +$1,520 more if the spread goes back to zero (this spread has no 7-day history yet).

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	40m 59s	—	$57	12x
Short	KuCoin IBMUSDTM	231.60	0.0100	get 0.0100% / 8h	3h 40m	$195K	$34K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +15.195%Rate

Funding earned: $14
Price spread: +15.195% → 0.000%: $1,519.52
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $1,521.5
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 30 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 KuCoin live order book, 30 min ago	5.18 bp	44.1 bp −$44	doesn't fit	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
Aster IBMUSDT	0.0000%	8h	231.46	+15.125%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.53	+15.159%	$53K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.60	+15.196%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.46	+15.126%	$982K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.63	+15.210%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.59	+15.190%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.61	+15.200%	$786K	$335K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.57	+15.183%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.61	+15.200%	$320	$160K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	231.46	+15.126%	$880	$477K	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	231.88	+15.334%	$6K	$34K	20x	as long as short
BloFin IBM-USDT	+0.0020%	8h	231.62	+15.205%	$46K	$51K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.49	+15.141%	$1.2M	$2.3M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.44	+15.116%	$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	231.39	+15.091%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.38	+15.086%	$1.9M	$763K	10x	as long as short
KuCoin IBMUSDTMshort	+0.0100%	8h	231.60	+15.195%	$195K	$34K	20x