Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0344%/8h= −37.7% APRpaid last 24h −0.103%

Price spread now: gTrade (Gains Network) against BloFin−0.221%110s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and gTrade (Gains Network) is 0.221% cheaper against BloFin than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 110 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	BloFin IMX-USDT	0.1513	0.0340	pay 0.0170% / 4h	25m 29s	$188K	$125K	75x
Short	gTrade (Gains Network) IMX/USD	0.1510	L +0.0001% / S +0.0004%	pay 0.0001% / 1h	25m 29s	$2K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BloFin. 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 BloFinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.221%Rate

Funding earned: −$72.3
Price spread: −0.221% → 0.000%: −$22.14
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$116.44
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 5 min ago; gTrade (Gains Network): 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 BloFin live order book, 5 min ago	9.90 bp	24.3 bp −$24	58.8 bp −$588	345.8 bp −$34.6K	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Variational Omni IMX	−0.0635%	4h	0.1505	−0.514%	$94K	$131K	—	as long as short
gTrade (Gains Network) IMX/USDshort	L +0.0001% / S +0.0004%	1h	0.1510	−0.221%	$2K	—	150x
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.132%	$559	$28K	5.5x	as long as short
OKX IMX-USDT-SWAP	+0.0048%	4h	0.1509	−0.251%	$942K	$1.6M	20x	as long as short
dYdX IMX-USD	+0.0088%	1h	0.1511	−0.151%	$26K	$3K	5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1514	+0.040%	$3.5M	$290K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1509	−0.264%	$3.6M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1507	−0.397%	$3.8M	$2.1M	75x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1509	−0.264%	$647K	$81K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1510	−0.198%	$2.6M	$577K	125x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTM	+0.0100%	4h	0.1509	−0.264%	$378K	$161K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1510	−0.198%	$1.3M	$403K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1509	−0.264%	—	$2.9M	—	as long as short
BloFin IMX-USDTlong	+0.0340%	4h	0.1513	long leg	$188K	$125K	75x
Kraken Futures PF_IMXUSD	+0.1076%	1h	0.1514	+0.063%	$115K	$10K	20x	as long as short