Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.014%

Price spread now: SunX against QFEX−0.086%7-day average −0.037% · you buy dearer than you sell

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

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.021%−$2 on $10k

Price spread, last 3 days (all we have)+0.048%+$5 · spread now −0.086%, 7d avg −0.037%

Together, before fees+0.028%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.049% cheaper against QFEX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	231.51	0.0031	pay 0.0004% / 1h	13m 43s	$1.2M	$3.3M	10x
Short	SunX IBM-USDT	231.31	0	get 0.0000% / 8h	13m 43s	$1K	$535K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$6.45
Price spread: −0.086% → −0.037%: −$4.94
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$29.39
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 4 min ago; SunX: live order book, 47 min ago. 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, 4 min ago	1.51 bp	6.5 bp −$7	11.2 bp −$112	doesn't fit	doesn't fit
Sell SunX live order book, 47 min ago	500.35 bp	doesn't fit	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
Aster IBMUSDT	0.0000%	8h	231.80	+0.124%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.40	−0.048%	$976K	$376K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.50	−0.004%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.53	+0.009%	$797K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.61	+0.043%	$798K	$403K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.57	+0.027%	$256K	$15K	—	as long as short
SunX IBM-USDTshort	0.0000%	8h	231.31	−0.086%	$1K	$535K	10x
HTX IBM-USDT	0.0000%	8h	231.86	+0.151%	$5K	$34K	20x	as long as short
QFEX IBM-USDlong	+0.0031%	1h	231.51	long leg	$1.2M	$3.3M	10x
Lighter IBM	+0.0032%	1h	231.53	+0.009%	$38K	$47K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.157%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.40	−0.048%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.41	−0.043%	$2.0M	$810K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.46	−0.022%	$194K	$34K	20x	as long as short
Extended IBM-USD	+0.0192%	1h	231.55	+0.017%	$54K	$202K	10x	as long as short
Binance IBMUSDT	+0.0196%	8h	231.59	+0.034%	$3.9M	$5.8M	20x	as long as short
BloFin IBM-USDT	+0.0207%	8h	231.69	+0.078%	$46K	$52K	20x	as long as short
GRVT IBM_USDT_Perp	+0.0432%	8h	231.57	+0.024%	$621	$170K	10x	as long as short