Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h +0.028%

Price spread now: BloFin against QFEX−0.065%99s7-day average — · you buy dearer than you sell

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

Long on QFEX Short on BloFin

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 against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.065% cheaper against QFEX than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	232.08	0.0043	pay 0.0005% / 1h	47m 26s	$1.2M	$2.0M	10x
Short	BloFin IBM-USDT	231.93	−0.0005	pay 0.0005% / 8h	47m 26s	$47K	$59K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against QFEX. 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 QFEXbpFee BloFinbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$10.06
Price spread: −0.065% → 0.000%: −$6.46
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$38.52
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 5 min ago; BloFin: no order-book sample. 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 QFEX live order book, 5 min ago	1.72 bp	6.8 bp −$7	13.1 bp −$131	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

BloFin: 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-USDTshort	−0.0005%	8h	231.93	−0.065%	$47K	$59K	20x
Aster IBMUSDT	0.0000%	8h	232.28	+0.086%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.11	+0.012%	$53K	$319K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.17	+0.039%	$3.8M	$5.6M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.04	−0.017%	$1.0M	$354K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.13	+0.022%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.20	+0.052%	$750K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.23	+0.065%	$780K	$350K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.13	+0.021%	$256K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.20	+0.052%	$72	$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	232.00	−0.034%	$1K	$471K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.45	+0.159%	$6K	$33K	20x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.370%	—	$57	12x	as long as short
QFEX IBM-USDlong	+0.0043%	1h	232.08	long leg	$1.2M	$2.0M	10x
Vest IBM-USD-PERP	+0.0046%	1h	231.93	−0.065%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.83	−0.108%	$1.8M	$797K	10x	as long as short
Lighter IBM	+0.0056%	1h	232.24	+0.069%	$38K	$49K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.10	+0.009%	$195K	$48K	20x	as long as short