Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.1834%/8h= +200.9% APRpaid last 24h +0.422%

Price spread now: Kraken Futures against BingX+0.367%7-day average +0.275% · you sell dearer than you buy

Net, funding: paid 7d − costs+$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$227as in the Price arb table

costs, in and out, $10k−$2362.361% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.721%+$272 on $10k

Price spread, last 4 days (all we have)−0.114%−$11 · spread now +0.367%, 7d avg +0.275%

Together, before fees+2.606%+$261 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$55 a day on $10k at the current rate, and Kraken Futures is 0.092% dearer against BingX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.275%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX IMX-USDT	0.1503	0.0100	pay 0.0050% / 4h	1h 58m	—	$4.3M	—
Short	Kraken Futures PF_IMXUSD	0.1509	0.1934	get 0.0242% / 1h	58m 15s	$114K	$4K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.367%Rate

Funding earned: $385.22
Price spread: +0.367% → +0.275%: $9.22
Slippage, 4 orders: −$216.06
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $158.38
Costs to cover: 2.361%
Break-even: 4.1 days

Slippage from BingX: live order book, 5 min ago; Kraken Futures: live order book, 52 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 BingX live order book, 5 min ago	6.66 bp	24.7 bp −$25	57.3 bp −$573	471.9 bp −$47.2K	1029.5 bp −$514.8K
Sell Kraken Futures live order book, 52 min ago	54.39 bp	70.2 bp −$70	doesn't fit	doesn't fit	doesn't fit

IMX on 15 exchanges

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	−0.0037%	4h	0.1498	−0.323%	$94K	$109K	—	as long as short
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1503	−0.033%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.798%	$559	$27K	5.5x	as long as short
dYdX IMX-USD	+0.0089%	1h	0.1504	+0.067%	$33K	$18K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1502	−0.061%	$3.6M	$5.4M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1500	−0.193%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1502	−0.053%	$937K	$1.4M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1502	−0.067%	$642K	$59K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1502	−0.067%	$2.5M	$570K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1500	−0.200%	$351K	$180K	50x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget IMXUSDT	+0.0100%	4h	0.1502	−0.067%	$1.3M	$302K	75x	as long as short
BingX IMX-USDTlong	+0.0100%	4h	0.1503	long leg	—	$4.3M	—
BloFin IMX-USDT	+0.0340%	4h	0.1501	−0.133%	$182K	$148K	75x	as long as short
Hyperliquid IMX	+0.0416%	1h	0.1507	+0.240%	$3.4M	$247K	5x	as long as short
Kraken Futures PF_IMXUSDshort	+0.1934%	1h	0.1509	+0.367%	$114K	$4K	20x