Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.016%

Price spread now: tradeXYZ against OKX−0.133%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

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

costs, in and out, $10k−$650.651% of the position

Long on OKX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 7 days+0.100%+$10 · spread now −0.133%, 7d avg −0.082%

Together, before fees+0.210%+ Points / potential airdroptradeXYZ: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.052% cheaper against OKX than usual: you would sell low and buy high (spread −0.133% now, against its 7-day average of −0.082%). If the spread goes back, that is −$5 on $10k: about 3.4 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IBM-USDT-SWAP	232.29	0	get 0.0000% / 8h	31m 09s	$1.4M	$1.2M	20x
Short	tradeXYZ xyz:IBM	231.98	0.0050	get 0.0006% / 1h	31m 09s	$1.8M	$796K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.133%Rate

Funding earned: $10.5
Price spread: −0.133% → −0.082%: −$5.15
Slippage, 4 orders: −$37.11
Fee OKX: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$59.76
Costs to cover: 0.651%
Break-even: 46.8 days

Slippage from OKX: live order book, just now; tradeXYZ: live order book, 7 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, just now	1.72 bp	15.9 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 7 min ago	1.51 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit

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	−0.0010%	8h	232.21	−0.034%	$47K	$59K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	232.28	−0.003%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.15	−0.062%	$53K	$315K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.20	−0.039%	$3.8M	$5.6M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.11	−0.077%	$1.0M	$353K	50x	as long as short
OKX IBM-USDT-SWAPlong	0.0000%	8h	232.29	long leg	$1.4M	$1.2M	20x
Gate IBM_USDT	0.0000%	8h	232.19	−0.043%	$750K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.19	−0.043%	$780K	$350K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.10	−0.082%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.18	−0.048%	$65	$168K	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	232.01	−0.121%	$561	$471K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.36	+0.030%	$6K	$33K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.29	0.000%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.449%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0043%	1h	232.11	−0.077%	$1.2M	$2.0M	10x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.97	−0.138%	—	—	25x	as long as short
tradeXYZ xyz:IBMshort	+0.0050%	1h	231.98	−0.133%	$1.8M	$796K	10x
KuCoin IBMUSDTM	+0.0100%	8h	232.12	−0.073%	$195K	$50K	20x	as long as short