Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h −0.014%

Price spread now: HTX against QFEX+0.272%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on HTX

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

The price spread pays, funding is against you. HTX is 0.272% dearer against QFEX than usual: you sell high and buy low (spread +0.272% now, against zero (this spread has no 7-day history yet)): +$27 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	231.50	0.0035	pay 0.0004% / 1h	49m 43s	$1.2M	$2.8M	10x
Short	HTX IBM-USDT	232.13	0	get 0.0000% / 8h	5h 49m	$5K	$33K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.272%Rate

Funding earned: −$7.26
Price spread: +0.272% → 0.000%: $27.21
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$2.04
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: QFEX: live order book, 3 min ago; HTX: 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, 3 min ago	1.73 bp	6.7 bp −$7	10.6 bp −$106	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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 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	231.48	−0.009%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.47	−0.013%	$974K	$346K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.57	+0.030%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.56	+0.026%	$799K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.59	+0.039%	$789K	$337K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.54	+0.019%	$256K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	231.38	−0.052%	$935	$486K	10x	as long as short
HTX IBM-USDTshort	0.0000%	8h	232.13	+0.272%	$5K	$33K	20x
Lighter IBM	+0.0032%	1h	231.51	+0.004%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.153%	—	$57	12x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX IBM-USDlong	+0.0035%	1h	231.50	long leg	$1.2M	$2.8M	10x
Vest IBM-USD-PERP	+0.0046%	1h	231.45	−0.022%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.38	−0.052%	$1.9M	$725K	10x	as long as short
GRVT IBM_USDT_Perp	+0.0089%	8h	231.63	+0.055%	$192	$158K	10x	as long as short
Binance IBMUSDT	+0.0091%	8h	231.59	+0.040%	$3.9M	$5.3M	20x	as long as short
Extended IBM-USD	+0.0096%	1h	231.55	+0.021%	$53K	$235K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.63	+0.056%	$194K	$33K	20x	as long as short