Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0997%/8h= +109.2% APRpaid last 24h +0.281%

Price spread now: Kraken Futures against BloFin+0.190%57s7-day average +0.277% · you sell dearer than you buy

Net, funding: paid 7d − costs+$8as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2262.259% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.341%+$234 on $10k

Price spread, last 3 days (all we have)+0.082%+$8 · spread now +0.190%, 7d avg +0.277%

Together, before fees+2.422%+$242 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.087% cheaper against BloFin than usual: you would sell low and buy high (spread +0.190% now, against its 7-day average of +0.277%). If the spread goes back, that is −$9 on $10k: about 7 hours of funding at the current rate (+$30 a day). The two prices were read 57 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	0.1509	0.0340	pay 0.0170% / 4h	48m 10s	$190K	$142K	75x
Short	Kraken Futures PF_IMXUSD	0.1512	0.1337	get 0.0167% / 1h	48m 10s	$115K	$11K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.190%Rate

Funding earned: $209.37
Price spread: +0.190% → +0.277%: −$8.73
Slippage, 4 orders: −$203.94
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$25.3
Costs to cover: 2.259%
Break-even: 7.8 days

Slippage from BloFin: live order book, 22 min ago; Kraken Futures: live order book, 29 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 BloFin live order book, 22 min ago	3.34 bp	9.4 bp −$9	38.5 bp −$385	355.8 bp −$35.6K	doesn't fit
Sell Kraken Futures live order book, 29 min ago	41.73 bp	55.6 bp −$56	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
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1510	+0.048%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.398%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1513	+0.252%	$3.5M	$293K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1508	−0.048%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1507	−0.119%	$3.9M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1508	−0.086%	$956K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1508	−0.066%	$651K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1508	−0.066%	$2.8M	$567K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1509	0.000%	$396K	$128K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1510	+0.066%	$1.3M	$410K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IMX-USDT	+0.0100%	4h	0.1509	0.000%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1510	+0.054%	$94K	$131K	—	as long as short
BloFin IMX-USDTlong	+0.0340%	4h	0.1509	long leg	$190K	$142K	75x
dYdX IMX-USD	+0.0699%	1h	0.1509	+0.007%	$26K	$66	5x	as long as short
Kraken Futures PF_IMXUSDshort	+0.1337%	1h	0.1512	+0.190%	$115K	$11K	20x