Funding arb · Price arb /

IBM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against SunX−13.108%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 13.108% cheaper against SunX than usual: you would sell low and buy high (spread −13.108% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,311 on $10k: about years of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX IBM-USDT	231.38	0	get 0.0000% / 8h	7h 52m	$1K	$522K	10x
Short	Injective IBM/USDC PERP	201.05	0.0033	get 0.0004% / 1h	52m 23s	—	$57	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −13.108%Rate

Funding earned: $7
Price spread: −13.108% → 0.000%: −$1,310.83
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,311.85
Costs to cover: 0.080%
Break-even: 1318.9 days

Slippage unknown: SunX: live order book, 69 min ago; Injective: no order-book sample. 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, 69 min ago	500.35 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	231.77	+0.170%	$13K	$127K	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.50	+0.052%	$977K	$358K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.61	+0.099%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.54	+0.069%	$797K	$1.5M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.62	+0.104%	$793K	$372K	20x	as long as short
Variational Omni IBM	0.0000%	8h	231.65	+0.118%	$256K	$15K	—	as long as short
SunX IBM-USDTlong	0.0000%	8h	231.38	long leg	$1K	$522K	10x
HTX IBM-USDT	0.0000%	8h	232.03	+0.281%	$5K	$34K	20x	as long as short
QFEX IBM-USD	+0.0025%	1h	231.41	+0.013%	$1.2M	$3.3M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.48	+0.043%	$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 PERPshort	+0.0033%	1h	201.05	−13.108%	—	$57	12x
Vest IBM-USD-PERP	+0.0046%	1h	231.40	+0.009%	—	—	25x	as long as short
tradeXYZ xyz:IBM	+0.0050%	1h	231.41	+0.013%	$1.9M	$823K	10x	as long as short
KuCoin IBMUSDTM	+0.0100%	8h	231.57	+0.082%	$195K	$33K	20x	as long as short
BloFin IBM-USDT	+0.0203%	8h	231.68	+0.130%	$46K	$52K	20x	as long as short
Extended IBM-USD	+0.0216%	1h	231.58	+0.087%	$53K	$202K	10x	as long as short
Binance IBMUSDT	+0.0216%	8h	231.64	+0.111%	$3.9M	$5.6M	20x	as long as short
GRVT IBM_USDT_Perp	+0.0794%	8h	231.65	+0.115%	$584	$168K	10x	as long as short