Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h −0.007%

Price spread now: Gate against QFEX+0.034%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.083%+$8 on $10k

Price spread, last 7 days−0.036%−$4 · spread now +0.034%, 7d avg +0.049%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.049%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.083%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	232.20	0.0049	pay 0.0006% / 1h	17m 54s	$1.2M	$2.1M	10x
Short	Gate IBM_USDT	232.28	0	get 0.0000% / 8h	1h 17m	$752K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.034%Rate

Funding earned: −$10.37
Price spread: +0.034% → +0.049%: −$1.41
Slippage, 4 orders: −$23.19
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$59.97
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Gate: live order book, 4 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 QFEX live order book, 4 min ago	2.37 bp	7.4 bp −$7	11.4 bp −$114	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	5.16 bp	19.6 bp −$20	218.5 bp −$2,185	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
Aster IBMUSDT	0.0000%	8h	232.24	+0.016%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.23	+0.014%	$57K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.29	+0.039%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.11	−0.039%	$1.0M	$355K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.22	+0.009%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDTshort	0.0000%	8h	232.28	+0.034%	$752K	$1.5M	50x
Bitget IBMUSDT	0.0000%	8h	232.24	+0.017%	$780K	$343K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.25	+0.021%	$257K	$14K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.23	+0.011%	$799	$165K	10x	as long as short
SunX IBM-USDT	0.0000%	8h	232.07	−0.056%	$717	$474K	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	232.41	+0.090%	$6K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0001%	8h	232.30	+0.043%	$47K	$55K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.29	+0.039%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.415%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.05	−0.065%	—	—	25x	as long as short
QFEX IBM-USDlong	+0.0049%	1h	232.20	long leg	$1.2M	$2.1M	10x
tradeXYZ xyz:IBM	+0.0050%	1h	231.92	−0.121%	$1.8M	$800K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.20	0.000%	$195K	$46K	20x	as long as short