Funding arb · Price arb /

IBM

RWAall IBM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.011%

Price spread now: Variational Omni against tradeXYZ+0.084%7-day average +0.105% · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.058%−$6 on $10k

Price spread, last 4 days (all we have)+0.176%+$18 · spread now +0.084%, 7d avg +0.105%

Together, before fees+0.118%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.021% cheaper against tradeXYZ than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.105%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:IBM	231.38	0.0050	pay 0.0006% / 1h	38m 29s	$1.9M	$763K	10x
Short	Variational Omni IBM	231.57	0	get 0.0000% / 8h	3h 38m	$256K	$15K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. 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 tradeXYZbpFee Variational OmnibpOrdersPrice spread, now +0.084%Rate

Funding earned: −$10.5
Price spread: +0.084% → +0.105%: −$2.13
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$30.63
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 9 min ago; Variational Omni: RFQ quote, 15 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 tradeXYZ live order book, 9 min ago	1.30 bp	13.0 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 15 min ago	2.79 bp	doesn't fit	33.4 bp −$334	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	−0.0023%	8h	231.62	+0.104%	$46K	$51K	20x	as long as short
Aster IBMUSDT	0.0000%	8h	231.48	+0.042%	$13K	$127K	20x	as long as short
Extended IBM-USD	0.0000%	1h	231.58	+0.084%	$53K	$233K	10x	as long as short
Binance IBMUSDT	0.0000%	8h	231.64	+0.111%	$3.8M	$5.4M	20x	as long as short
Bybit IBMUSDT	0.0000%	8h	231.48	+0.043%	$982K	$347K	50x	as long as short
OKX IBM-USDT-SWAP	0.0000%	8h	231.58	+0.086%	$1.4M	$1.1M	20x	as long as short
Gate IBM_USDT	0.0000%	8h	231.57	+0.082%	$801K	$1.4M	50x	as long as short
Bitget IBMUSDT	0.0000%	8h	231.60	+0.095%	$786K	$335K	20x	as long as short
Variational Omni IBMshort	0.0000%	8h	231.57	+0.084%	$256K	$15K	—
GRVT IBM_USDT_Perp	0.0000%	8h	231.62	+0.102%	$164	$160K	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	231.46	+0.035%	$880	$476K	10x	as long as short
HTX IBM-USDT	0.0000%	8h	231.91	+0.229%	$6K	$34K	20x	as long as short
QFEX IBM-USD	+0.0030%	1h	231.53	+0.065%	$1.2M	$2.3M	10x	as long as short
Lighter IBM	+0.0032%	1h	231.45	+0.030%	$38K	$43K	10x	as long as short
Injective IBM/USDC PERP	+0.0033%	1h	201.05	−13.108%	—	$57	12x	as long as short
Vest IBM-USD-PERP	+0.0046%	1h	231.40	+0.009%	—	—	25x	as long as short
tradeXYZ xyz:IBMlong	+0.0050%	1h	231.38	long leg	$1.9M	$763K	10x
KuCoin IBMUSDTM	+0.0100%	8h	231.61	+0.099%	$195K	$34K	20x	as long as short