Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Hyperliquid against Gate+0.153%7-day average +0.334% · you sell dearer than you buy

Net, funding: paid 7d − costs−$222as in the Funding arb table

Net, price: spread back to 7d avg − costs−$241as in the Price arb table

costs, in and out, $10k−$2232.234% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 4 days (all we have)+0.237%+$24 · spread now +0.153%, 7d avg +0.334%

Together, before fees+0.252%+ Points / potential airdropHyperliquid: Season 2 · farm board+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.180% cheaper against Gate than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.334%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IMX_USDT	0.1500	0.0100	pay 0.0050% / 4h	1h 50m	$647K	$140K	50x
Short	Hyperliquid IMX	0.1502	0.0100	get 0.0013% / 1h	50m 05s	$3.4M	$278K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.153%Rate

Funding earned: $0
Price spread: +0.153% → +0.334%: −$18.04
Slippage, 4 orders: −$199.38
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$241.42
Costs to cover: 2.234%
Break-even: never at this rate

Slippage from Gate: live order book, 31 min ago; Hyperliquid: live order book, 1 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 Gate live order book, 31 min ago	6.64 bp	73.3 bp −$73	251.9 bp −$2,519	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 1 min ago	1.33 bp	22.2 bp −$22	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
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1501	+0.055%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.000%	$559	$28K	5.5x	as long as short
Kraken Futures PF_IMXUSD	+0.0040%	1h	0.1503	+0.225%	$114K	$22K	20x	as long as short
Hyperliquid IMXshort	+0.0100%	1h	0.1502	+0.153%	$3.4M	$278K	5x
Binance IMXUSDT	+0.0100%	4h	0.1498	−0.133%	$3.6M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1499	−0.067%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1497	−0.173%	$941K	$1.7M	20x	as long as short
Gate IMX_USDTlong	+0.0100%	4h	0.1500	long leg	$647K	$140K	50x
MEXC IMX_USDT	+0.0100%	4h	0.1501	+0.067%	$2.6M	$550K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1502	+0.133%	$391K	$122K	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	−0.067%	$1.3M	$415K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1499	−0.067%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1498	−0.142%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1500	0.000%	$192K	$147K	75x	as long as short
dYdX IMX-USD	+0.3621%	1h	0.1501	+0.057%	$26K	$59	5x	as long as short