Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0245%/8h= −26.9% APRpaid last 24h −0.038%

Price spread now: KuCoin against dYdX−0.118%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 6 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 −$7 a day on $10k at the current rate, and KuCoin is 0.118% cheaper against dYdX than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX IMX-USD	0.1484	0.0345	pay 0.0043% / 1h	0m 28s	$26K	$4K	5x
Short	KuCoin IMXUSDTM	0.1482	0.0100	get 0.0050% / 4h	3h 00m	$373K	$163K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$51.5
Price spread: −0.118% → 0.000%: −$11.78
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$85.28
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; KuCoin: live order book, 72 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 KuCoin live order book, 72 min ago	9.92 bp	78.9 bp −$79	163.2 bp −$1,632	doesn't fit	doesn't fit

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	−0.0244%	4h	0.1482	−0.135%	$93K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1484	+0.039%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+2.106%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1484	+0.017%	$3.6M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1482	−0.118%	$3.7M	$2.1M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1484	−0.010%	$933K	$1.5M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1482	−0.118%	$634K	$81K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1486	+0.152%	$2.6M	$583K	125x	as long as short
KuCoin IMXUSDTMshort	+0.0100%	4h	0.1482	−0.118%	$373K	$163K	50x
Bitget IMXUSDT	+0.0100%	4h	0.1484	+0.017%	$1.3M	$402K	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	0.1485	+0.084%	—	$2.9M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1481	−0.185%	$184K	$123K	75x	as long as short
dYdX IMX-USDlong	+0.0345%	1h	0.1484	long leg	$26K	$4K	5x
Hyperliquid IMX	+0.0385%	1h	0.1488	+0.300%	$3.4M	$295K	5x	as long as short
Kraken Futures PF_IMXUSD	+0.1659%	1h	0.1491	+0.514%	$113K	$10K	20x	as long as short