Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h −0.012%

Price spread now: OKX against QFEX+0.039%7-day average +0.018% · 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−$36as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 7 days−0.049%−$5 · spread now +0.039%, 7d avg +0.018%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.020% dearer against QFEX than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of +0.018%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	232.89	0.0015	pay 0.0002% / 1h	15m 20s	$1.2M	$2.0M	10x
Short	OKX IBM-USDT-SWAP	232.98	0	get 0.0000% / 8h	6h 15m	$1.4M	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$3.14
Price spread: +0.039% → +0.018%: $2.04
Slippage, 4 orders: −$17.8
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$38.9
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; OKX: 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, 5 min ago	1.72 bp	6.7 bp −$7	10.6 bp −$106	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.22 bp	13.7 bp −$14	173.7 bp −$1,737	doesn't fit	doesn't fit

IBM on 18 exchanges

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	−0.0006%	8h	232.88	−0.004%	$47K	$61K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	232.70	−0.080%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.92	+0.014%	$53K	$313K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	233.00	+0.049%	$3.8M	$4.7M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.85	−0.017%	$1.0M	$306K	50x	as long as short
OKX IBM-USDT-SWAPshort	0.0000%	8h	232.98	+0.039%	$1.4M	$1.1M	20x
Gate IBM_USDT	0.0000%	8h	233.06	+0.073%	$744K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.89	0.000%	$780K	$288K	20x	as long as short
Variational Omni IBM	0.0000%	8h	232.81	−0.032%	$258K	$15K	—	as long as short
SunX IBM-USDT	0.0000%	8h	232.50	−0.167%	$1K	$404K	10x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IBM-USDT	0.0000%	8h	233.13	+0.103%	$6K	$34K	20x	as long as short
QFEX IBM-USDlong	+0.0015%	1h	232.89	long leg	$1.2M	$2.0M	10x
Lighter IBM	+0.0032%	1h	232.93	+0.017%	$37K	$47K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.672%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	232.84	−0.021%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	232.84	−0.021%	$1.8M	$789K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.80	−0.039%	$195K	$162K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0370%	8h	232.82	−0.030%	$286	$156K	10x	as long as short