Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.040%

Price spread now: Injective against Binance+0.932%77s7-day average — · you sell dearer than you buy

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

Long on Binance 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

The price spread pays, funding is against you. Injective is 0.932% dearer against Binance than usual: you sell high and buy low (spread +0.932% now, against zero (this spread has no 7-day history yet)): +$93 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 47 days. The two prices were read 77 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	Binance IMXUSDT	0.1501	0.0100	pay 0.0050% / 4h	1h 39m	$3.7M	$5.9M	75x
Short	Injective IMX/USDC PERP	0.1515	0.0033	get 0.0004% / 1h	39m 56s	$559	$28K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +0.932%Rate

Funding earned: −$14
Price spread: +0.932% → 0.000%: $93.21
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $69.19
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 13 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 Binance live order book, 13 min ago	3.33 bp	22.2 bp −$22	75.4 bp −$754	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.

IMX on 15 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
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1503	+0.114%	$6K	—	150x	as long as short
Injective IMX/USDC PERPshort	+0.0033%	1h	0.1515	+0.932%	$559	$28K	5.5x
Kraken Futures PF_IMXUSD	+0.0040%	1h	0.1508	+0.457%	$114K	$22K	20x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1506	+0.339%	$3.4M	$281K	5x	as long as short
Binance IMXUSDTlong	+0.0100%	4h	0.1501	long leg	$3.7M	$5.9M	75x
Bybit IMXUSDT	+0.0100%	4h	0.1500	−0.041%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1501	−0.007%	$943K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1501	−0.001%	$648K	$140K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1503	+0.133%	$2.6M	$550K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1503	+0.133%	$392K	$121K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget IMXUSDT	+0.0100%	4h	0.1502	+0.066%	$1.3M	$415K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1502	+0.066%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1500	−0.045%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1502	+0.066%	$191K	$147K	75x	as long as short
dYdX IMX-USD	+0.4940%	1h	0.1502	+0.059%	$26K	$59	5x	as long as short