Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against OKX+0.030%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$740.741% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now +0.030%, 7d avg −0.008%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.039% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IBM-USDT-SWAP	231.35	0	get 0.0000% / 8h	6h 15m	$1.4M	$1.1M	20x
Short	Bitget IBMUSDT	231.42	0	get 0.0000% / 8h	6h 15m	$791K	$338K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → −0.008%: $3.87
Slippage, 4 orders: −$52.05
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$70.18
Costs to cover: 0.741%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Bitget: live order book, 50 min ago.

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 OKX live order book, 1 min ago	0.22 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 50 min ago	1.73 bp	17.5 bp −$18	71.2 bp −$712	doesn't fit	doesn't fit

IBM on 17 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	231.25	−0.041%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.28	−0.030%	$973K	$346K	50x	as long as short
OKX IBM-USDT-SWAPlong	0.0000%	8h	231.35	long leg	$1.4M	$1.1M	20x
Gate IBM_USDT	0.0000%	8h	231.36	+0.004%	$798K	$1.4M	50x	as long as short
Bitget IBMUSDTshort	0.0000%	8h	231.42	+0.030%	$791K	$338K	20x
Variational Omni IBM	0.0000%	8h	231.36	+0.005%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.12	−0.099%	$1K	$487K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.62	+0.117%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0029%	1h	231.31	−0.017%	$1.2M	$2.9M	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.097%	—	$57	12x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IBM-USD-PERP	+0.0046%	1h	231.22	−0.056%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.23	−0.052%	$1.9M	$723K	10x	as long as short
GRVT IBM_USDT_Perp	+0.0067%	8h	231.37	+0.008%	$315	$160K	10x	as long as short
Lighter IBM	+0.0096%	1h	231.51	+0.069%	$38K	$43K	10x	as long as short
Extended IBM-USD	+0.0096%	1h	231.31	−0.016%	$53K	$237K	10x	as long as short
Binance IBMUSDT	+0.0096%	8h	231.37	+0.009%	$3.9M	$5.2M	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.30	−0.022%	$194K	$33K	20x	as long as short