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 −0.011%

Price spread now: OKX against Hyperliquid−0.358%7-day average −0.271% · you buy dearer than you sell

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1391.391% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 4 days (all we have)+0.162%+$16 · spread now −0.358%, 7d avg −0.271%

Together, before fees+0.101%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 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: OKX is 0.087% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.271%.

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	35m 20s	$3.5M	$292K	5x
Short	OKX IMX-USDT-SWAP	0.1503	0.0100	get 0.0050% / 4h	35m 20s	$954K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.358%Rate

Funding earned: $0
Price spread: −0.358% → −0.271%: −$8.69
Slippage, 4 orders: −$120.14
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$147.84
Costs to cover: 1.391%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; OKX: 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 Hyperliquid live order book, 6 min ago	2.64 bp	38.1 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.33 bp	32.2 bp −$32	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	0.1506	−0.168%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.444%	$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	−0.351%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1502	−0.418%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAPshort	+0.0100%	4h	0.1503	−0.358%	$954K	$1.7M	20x
Gate IMX_USDT	+0.0100%	4h	0.1506	−0.152%	$650K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1503	−0.351%	$2.8M	$567K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1505	−0.219%	$395K	$128K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1504	−0.285%	$1.3M	$410K	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	−0.351%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1502	−0.429%	$94K	$131K	—	as long as short
dYdX IMX-USD	+0.0320%	1h	0.1506	−0.168%	$26K	$66	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1507	−0.086%	$192K	$143K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1341%	1h	0.1507	−0.094%	$114K	$11K	20x	as long as short