Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.059%

Price spread now: BloFin against Hyperliquid−0.312%67s7-day average −0.276% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$910.913% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$14 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.312%, 7d avg −0.276%

Together, before fees+0.177%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.035% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.312% now, against its 7-day average of −0.276%). If the spread goes back, that is −$4 on $10k: about 2.1 days of funding at the current rate (+$2 a day). The two prices were read 67 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	Hyperliquid IMX	0.1509	0.0284	pay 0.0036% / 1h	22m 01s	$3.4M	$270K	5x
Short	BloFin IMX-USDT	0.1504	0.0340	get 0.0170% / 4h	2h 22m	$183K	$151K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpFee BloFinbpOrdersPrice spread, now −0.312%Rate

Funding earned: $11.66
Price spread: −0.312% → −0.276%: −$3.53
Slippage, 4 orders: −$70.27
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$83.13
Costs to cover: 0.913%
Break-even: 56.9 days

Slippage from Hyperliquid: live order book, 3 min ago; BloFin: live order book, 23 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 Hyperliquid live order book, 3 min ago	5.65 bp	21.5 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 23 min ago	13.33 bp	19.3 bp −$19	42.7 bp −$427	305.4 bp −$30.5K	doesn't fit

IMX on 15 exchanges

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	−0.0034%	4h	0.1499	−0.630%	$94K	$120K	—	as long as short
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1505	−0.278%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.418%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1504	−0.340%	$3.6M	$5.6M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1501	−0.510%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1503	−0.358%	$939K	$1.5M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1501	−0.510%	$641K	$71K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1503	−0.378%	$2.5M	$583K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1503	−0.378%	$353K	$185K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1504	−0.312%	$1.3M	$305K	75x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IMX-USDT	+0.0100%	4h	0.1502	−0.444%	—	$4.4M	—	as long as short
dYdX IMX-USD	+0.0105%	1h	0.1502	−0.431%	$33K	$18K	5x	as long as short
Hyperliquid IMXlong	+0.0284%	1h	0.1509	long leg	$3.4M	$270K	5x
BloFin IMX-USDTshort	+0.0340%	4h	0.1504	−0.312%	$183K	$151K	75x
Kraken Futures PF_IMXUSD	+0.2691%	1h	0.1509	+0.010%	$115K	$4K	20x	as long as short