Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0615%/8h= +67.4% APRpaid last 24h +0.364%

Price spread now: Kraken Futures against Binance+0.242%7-day average +0.284% · you sell dearer than you buy

Net, funding: paid 7d − costs+$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$242as in the Price arb table

costs, in and out, $10k−$2372.374% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.521%+$252 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now +0.242%, 7d avg +0.284%

Together, before fees+2.583%+$258 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.041% cheaper against Binance than usual: you would sell low and buy high (spread +0.242% now, against its 7-day average of +0.284%). If the spread goes back, that is −$4 on $10k: about 5 hours of funding at the current rate (+$18 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IMXUSDT	0.1508	0.0100	pay 0.0050% / 4h	1h 40m	$3.6M	$5.7M	75x
Short	Kraken Futures PF_IMXUSD	0.1512	0.0715	get 0.0089% / 1h	40m 43s	$115K	$10K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.242%Rate

Funding earned: $129.19
Price spread: +0.242% → +0.284%: −$4.13
Slippage, 4 orders: −$217.37
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$112.31
Costs to cover: 2.374%
Break-even: 13.1 days

Slippage from Binance: live order book, 12 min ago; Kraken Futures: live order book, 21 min ago.

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, 12 min ago	3.31 bp	21.1 bp −$21	73.7 bp −$737	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 21 min ago	68.44 bp	83.2 bp −$83	doesn't fit	doesn't fit	doesn't fit

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
Variational Omni IMX	−0.0513%	4h	0.1507	−0.107%	$95K	$131K	—	as long as short
dYdX IMX-USD	0.0000%	1h	0.1513	+0.292%	$26K	$2K	5x	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1511	+0.151%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.443%	$559	$28K	5.5x	as long as short
Binance IMXUSDTlong	+0.0100%	4h	0.1508	long leg	$3.6M	$5.7M	75x
Bybit IMXUSDT	+0.0100%	4h	0.1509	+0.018%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1509	+0.058%	$946K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1510	+0.111%	$647K	$81K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1508	−0.021%	$2.6M	$583K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1509	+0.045%	$375K	$159K	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	0.1511	+0.177%	$1.3M	$398K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1511	+0.177%	—	$2.9M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1511	+0.177%	$190K	$124K	75x	as long as short
Hyperliquid IMX	+0.0468%	1h	0.1514	+0.403%	$3.5M	$281K	5x	as long as short
Kraken Futures PF_IMXUSDshort	+0.0715%	1h	0.1512	+0.242%	$115K	$10K	20x