Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.039%

Price spread now: dYdX against Bybit+0.507%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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. dYdX is 0.507% dearer against Bybit than usual: you sell high and buy low (spread +0.507% now, against zero (this spread has no 7-day history yet)): +$51 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IMXUSDT	0.1499	0.0100	pay 0.0050% / 4h	50m 42s	$3.8M	$2.1M	75x
Short	dYdX IMX-USD	0.1507	0	get 0.0000% / 1h	50m 42s	$26K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now +0.507%Rate

Funding earned: −$21
Price spread: +0.507% → 0.000%: $50.7
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: $8.7
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; dYdX: 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 Bybit live order book, 2 min ago	3.33 bp	33.1 bp −$33	89.2 bp −$892	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0672%	4h	0.1499	+0.023%	$94K	$131K	—	as long as short
dYdX IMX-USDshort	0.0000%	1h	0.1507	+0.507%	$26K	$2K	5x
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1504	+0.314%	$2K	—	150x	as long as short
OKX IMX-USDT-SWAP	+0.0008%	4h	0.1499	+0.013%	$943K	$1.6M	20x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.074%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1501	+0.131%	$3.6M	$5.7M	75x	as long as short
Bybit IMXUSDTlong	+0.0100%	4h	0.1499	long leg	$3.8M	$2.1M	75x
Gate IMX_USDT	+0.0100%	4h	0.1503	+0.274%	$644K	$81K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1505	+0.407%	$2.6M	$572K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1507	+0.540%	$376K	$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	0.1505	+0.407%	$1.3M	$402K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1504	+0.340%	—	$2.9M	—	as long as short
Hyperliquid IMX	+0.0162%	1h	0.1507	+0.554%	$3.5M	$287K	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1504	+0.340%	$190K	$124K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1081%	1h	0.1507	+0.513%	$114K	$10K	20x	as long as short