Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2989%/8h= +327.3% APRpaid last 24h +0.364%

Price spread now: Kraken Futures against Bybit+0.462%7-day average +0.364% · you sell dearer than you buy

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$248as in the Price arb table

costs, in and out, $10k−$2572.573% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.606%+$261 on $10k

Price spread, last 4 days (all we have)−0.181%−$18 · spread now +0.462%, 7d avg +0.364%

Together, before fees+2.425%+$242 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$90 a day on $10k at the current rate, and Kraken Futures is 0.097% dearer against Bybit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.364%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IMXUSDT	0.1483	0.0100	pay 0.0050% / 4h	1h 35m	$3.8M	$2.2M	75x
Short	Kraken Futures PF_IMXUSD	0.1490	0.3089	get 0.0386% / 1h	35m 50s	$113K	$10K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.462%Rate

Funding earned: $627.64
Price spread: +0.462% → +0.364%: $9.72
Slippage, 4 orders: −$236.27
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $380.08
Costs to cover: 2.573%
Break-even: 2.8 days

Slippage from Bybit: live order book, 2 min ago; Kraken Futures: live order book, 6 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 Bybit live order book, 2 min ago	6.74 bp	32.6 bp −$33	87.8 bp −$878	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	63.89 bp	79.9 bp −$80	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	−0.0050%	4h	0.1482	−0.051%	$93K	$131K	—	as long as short
dYdX IMX-USD	0.0000%	1h	0.1486	+0.229%	$26K	$4K	5x	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1487	+0.245%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+2.158%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1490	+0.472%	$3.4M	$325K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1487	+0.263%	$3.5M	$5.9M	75x	as long as short
Bybit IMXUSDTlong	+0.0100%	4h	0.1483	long leg	$3.8M	$2.2M	75x
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1487	+0.243%	$932K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1486	+0.202%	$635K	$75K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1487	+0.270%	$2.4M	$603K	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	0.1484	+0.067%	$362K	$188K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1487	+0.270%	$1.3M	$410K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1487	+0.270%	—	$2.8M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1484	+0.067%	$183K	$128K	75x	as long as short
Kraken Futures PF_IMXUSDshort	+0.3089%	1h	0.1490	+0.462%	$113K	$10K	20x