Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against SunX+0.073%46s7-day average +0.001% · you sell dearer than you buy

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.234%−$23 · spread now +0.073%, 7d avg +0.001%

Together, before fees−0.234%−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.072% dearer against SunX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.001%. The two prices were read 46 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	SunX IBM-USDT	231.31	0	get 0.0000% / 8h	5h 29m	$766	$486K	10x
Short	Bybit IBMUSDT	231.48	0	get 0.0000% / 8h	5h 29m	$974K	$346K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → +0.001%: $7.24
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$11.76
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 1 min ago; Bybit: live order book, 31 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 SunX live order book, 1 min ago	500.37 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 31 min ago	2.59 bp	11.7 bp −$12	82.3 bp −$823	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	231.45	+0.061%	$13K	$127K	20x	as long as short
Bybit IBMUSDTshort	0.0000%	8h	231.48	+0.073%	$974K	$346K	50x
OKX IBM-USDT-SWAP	0.0000%	8h	231.47	+0.069%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.55	+0.104%	$799K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.60	+0.125%	$789K	$338K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.57	+0.111%	$256K	$15K	—	as long as short
GRVT IBM_USDT_Perp	0.0000%	8h	231.56	+0.107%	$512	$158K	10x	as long as short
SunX IBM-USDTlong	0.0000%	8h	231.31	long leg	$766	$486K	10x
HTX IBM-USDT	0.0000%	8h	231.75	+0.190%	$5K	$33K	20x	as long as short
Lighter IBM	+0.0032%	1h	231.51	+0.086%	$38K	$43K	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	−13.082%	—	$57	12x	as long as short
QFEX IBM-USD	+0.0035%	1h	231.36	+0.022%	$1.2M	$2.7M	10x	as long as short
BloFin IBM-USDT	+0.0041%	8h	231.62	+0.134%	$47K	$52K	20x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.36	+0.022%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.37	+0.026%	$1.9M	$726K	10x	as long as short
Extended IBM-USD	+0.0056%	1h	231.58	+0.115%	$53K	$238K	10x	as long as short
Binance IBMUSDT	+0.0058%	8h	231.65	+0.147%	$3.9M	$5.3M	20x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.56	+0.108%	$194K	$33K	20x	as long as short