Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.007%

Price spread now: BingX against dYdX+0.134%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on BingX

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BingX is 0.134% dearer against dYdX than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX IMX-USD	0.1497	0	get 0.0000% / 1h	47m 07s	$26K	$59	5x
Short	BingX IMX-USDT	0.1499	0.0100	get 0.0050% / 4h	2h 47m	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against dYdX. 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 dYdXbpFee BingXbpOrdersPrice spread, now +0.134%Rate

Funding earned: $21
Price spread: +0.134% → 0.000%: $13.36
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $14.36
Costs to cover: 0.200%
Break-even: 2.2 days

Slippage unknown: dYdX: no order-book sample; BingX: live order book, 3 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell BingX live order book, 3 min ago	10.03 bp	32.2 bp −$32	63.3 bp −$633	342.7 bp −$34.3K	980.5 bp −$490.2K

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
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1501	+0.253%	$6K	—	150x	as long as short
dYdX IMX-USDlong	0.0000%	1h	0.1497	long leg	$26K	$59	5x
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.202%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1502	+0.334%	$3.4M	$287K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1498	+0.067%	$3.7M	$6.0M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1497	0.000%	$3.8M	$2.1M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1499	+0.140%	$946K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1498	+0.067%	$647K	$142K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1498	+0.067%	$2.6M	$545K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1499	+0.134%	$386K	$121K	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	0.1499	+0.134%	$1.3M	$414K	75x	as long as short
BingX IMX-USDTshort	+0.0100%	4h	0.1499	+0.134%	—	$2.6M	—
Variational Omni IMX	+0.0100%	4h	0.1493	−0.300%	$94K	$132K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1492	−0.334%	$194K	$135K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1087%	1h	0.1504	+0.494%	$114K	$22K	20x	as long as short