Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.006%

Price spread now: Variational Omni against QFEX+0.023%47s7-day average +0.023% · you sell dearer than you buy

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.302%+$30 · spread now +0.023%, 7d avg +0.023%

Together, before fees+0.286%+ Points / potential airdropVariational Omni: Active · farm board+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.023%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IBM-USD	232.10	0.0043	pay 0.0005% / 1h	4m 44s	$1.2M	$2.1M	10x
Short	Variational Omni IBM	232.15	0	get 0.0000% / 8h	4m 44s	$257K	$13K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.023%Rate

Funding earned: −$9
Price spread: +0.023% → +0.023%: $0.04
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.97
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 3 min ago; Variational Omni: RFQ quote, 34 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, 3 min ago	1.72 bp	6.7 bp −$7	11.2 bp −$112	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 34 min ago	5.04 bp	doesn't fit	66.8 bp −$668	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	−0.0006%	8h	232.19	+0.039%	$47K	$59K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	232.03	−0.030%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	232.08	−0.007%	$53K	$311K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	232.18	+0.035%	$3.8M	$5.5M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	232.00	−0.043%	$1.0M	$349K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	232.20	+0.043%	$1.4M	$1.2M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	232.22	+0.052%	$743K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	232.18	+0.034%	$780K	$346K	20x	as long as short
Variational Omni IBMshort	0.0000%	8h	232.15	+0.023%	$257K	$13K	—
GRVT IBM_USDT_Perp	0.0000%	8h	232.20	+0.045%	$93	$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	232.03	−0.030%	$928	$471K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	232.53	+0.185%	$6K	$33K	20x	as long as short
Lighter IBM	+0.0032%	1h	232.32	+0.095%	$38K	$49K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.378%	—	$57	12x	as long as short
QFEX IBM-USDlong	+0.0043%	1h	232.10	long leg	$1.2M	$2.1M	10x
Vest IBM-USD-PERP	+0.0046%	1h	232.01	−0.039%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.93	−0.073%	$1.8M	$800K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	232.07	−0.013%	$194K	$55K	20x	as long as short