Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0102%/8h= +11.1% APRpaid last 24h +0.030%

Price spread now: Bybit against gTrade (Gains Network)−0.483%52s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Bybit is 0.483% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.483% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$48 on $10k: about 16 days of funding at the current rate (+$3 a day). The two prices were read 52 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	gTrade (Gains Network) IMX/USD	0.1506	L −0.0002% / S +0.0004%	get 0.0000% / 1h	52m 29s	$6K	—	150x
Short	Bybit IMXUSDT	0.1499	0.0100	get 0.0050% / 4h	1h 52m	$3.8M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now −0.483%Rate

Funding earned: $21.34
Price spread: −0.483% → 0.000%: −$48.26
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$47.93
Costs to cover: 0.210%
Break-even: 22.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 5 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	3.33 bp	30.5 bp −$31	85.0 bp −$850	doesn't fit	doesn't fit

gTrade (Gains Network): 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/USDlong	L −0.0002% / S +0.0004%	1h	0.1506	long leg	$6K	—	150x
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.580%	$559	$28K	5.5x	as long as short
Kraken Futures PF_IMXUSD	+0.0040%	1h	0.1507	+0.030%	$114K	$22K	20x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1503	−0.210%	$3.4M	$278K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1499	−0.483%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDTshort	+0.0100%	4h	0.1499	−0.483%	$3.8M	$2.2M	75x
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1499	−0.463%	$942K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1501	−0.350%	$648K	$140K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1500	−0.416%	$2.6M	$550K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1502	−0.283%	$391K	$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	−0.483%	$1.3M	$415K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1501	−0.350%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1503	−0.192%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1504	−0.151%	$192K	$147K	75x	as long as short
dYdX IMX-USD	+0.3096%	1h	0.1501	−0.360%	$26K	$59	5x	as long as short