Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0057%/8h= +6.3% APRpaid last 24h +0.033%

Price spread now: KuCoin against QFEX−0.009%7-day average +0.013% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$1,251as in the Price arb table

costs, in and out, $10k−$1,24912.493% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.102%+$10 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.009%, 7d avg +0.013%

Together, before fees+0.108%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.021% cheaper against QFEX than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.013%). If the spread goes back, that is −$2 on $10k: about 30 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	232.11	0.0043	pay 0.0005% / 1h	32m 54s	$1.2M	$2.0M	10x
Short	KuCoin IBMUSDTM	232.09	0.0100	get 0.0100% / 8h	32m 54s	$194K	$50K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.009%Rate

Funding earned: $12
Price spread: −0.009% → +0.013%: −$2.15
Slippage, 4 orders: −$1,227.25
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,239.4
Costs to cover: 12.493%
Break-even: 730.3 days

Slippage from QFEX: live order book, 4 min ago; KuCoin: live order book, 68 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	1.94 bp	7.8 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 68 min ago	6.24 bp	467.7 bp −$468	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	−0.0025%	8h	232.23	+0.052%	$47K	$59K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	232.30	+0.081%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.15	+0.016%	$53K	$315K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.20	+0.040%	$3.8M	$5.6M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.07	−0.017%	$1.0M	$354K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.29	+0.078%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.18	+0.030%	$750K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.20	+0.039%	$780K	$350K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.10	−0.004%	$257K	$13K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	232.18	+0.030%	$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	−0.043%	$561	$471K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.24	+0.056%	$6K	$33K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.26	+0.065%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.382%	—	$57	12x	as long as short
QFEX IBM-USDlong	+0.0043%	1h	232.11	long leg	$1.2M	$2.0M	10x
Vest IBM-USD-PERP	+0.0046%	1h	231.98	−0.056%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.97	−0.060%	$1.8M	$796K	10x	as long as short
KuCoin IBMUSDTMshort	+0.0100%	8h	232.09	−0.009%	$194K	$50K	20x