Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: MEXC against Hyperliquid−0.411%7-day average −0.260% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1061.056% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 7 days+0.208%+$21 · spread now −0.411%, 7d avg −0.260%

Together, before fees+0.156%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 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: MEXC is 0.151% cheaper against Hyperliquid than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.260%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid IMX	0.1508	0.0100	pay 0.0013% / 1h	34m 28s	$3.5M	$292K	5x
Short	MEXC IMX_USDT	0.1502	0.0100	get 0.0050% / 4h	34m 28s	$2.8M	$568K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hyperliquid. 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 HyperliquidbpFee MEXCbpOrdersPrice spread, now −0.411%Rate

Funding earned: $0
Price spread: −0.411% → −0.260%: −$15.08
Slippage, 4 orders: −$92.57
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$120.66
Costs to cover: 1.056%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; MEXC: live order book, 3 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, 7 min ago	2.64 bp	38.1 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	3.33 bp	15.2 bp −$15	40.6 bp −$406	209.9 bp −$21.0K	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	0.1506	−0.161%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.451%	$559	$28K	5.5x	as long as short
Hyperliquid IMXlong	+0.0100%	1h	0.1508	long leg	$3.5M	$292K	5x
Binance IMXUSDT	+0.0100%	4h	0.1503	−0.345%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1502	−0.411%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1503	−0.371%	$952K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1501	−0.477%	$648K	$141K	50x	as long as short
MEXC IMX_USDTshort	+0.0100%	4h	0.1502	−0.411%	$2.8M	$568K	125x
KuCoin IMXUSDTM	+0.0100%	4h	0.1504	−0.278%	$395K	$128K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1504	−0.278%	$1.3M	$415K	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	0.1503	−0.345%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1502	−0.423%	$94K	$131K	—	as long as short
dYdX IMX-USD	+0.0307%	1h	0.1506	−0.162%	$26K	$72	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1505	−0.212%	$192K	$143K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1343%	1h	0.1506	−0.167%	$114K	$11K	20x	as long as short