Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.040%

Price spread now: BingX against Injective−0.726%7-day average — · you buy dearer than you sell

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

Long on Injective Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 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. BingX is 0.726% cheaper against Injective than usual: you would sell low and buy high (spread −0.726% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$73 on $10k: about 36 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective IMX/USDC PERP	0.1515	0.0033	pay 0.0004% / 1h	32m 34s	$559	$28K	5.5x
Short	BingX IMX-USDT	0.1504	0.0100	get 0.0050% / 4h	32m 34s	—	$2.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now −0.726%Rate

Funding earned: $14
Price spread: −0.726% → 0.000%: −$72.61
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$68.63
Costs to cover: 0.100%
Break-even: 41.3 days

Slippage unknown: Injective: no order-book sample; BingX: live order book, 2 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 Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 2 min ago	6.65 bp	25.3 bp −$25	57.7 bp −$577	360.1 bp −$36.0K	1041.6 bp −$520.8K

Injective: 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/USD	L −0.0002% / S +0.0004%	1h	0.1506	−0.611%	$6K	—	150x	as long as short
Injective IMX/USDC PERPlong	+0.0033%	1h	0.1515	long leg	$559	$28K	5.5x
Hyperliquid IMX	+0.0100%	1h	0.1509	−0.396%	$3.5M	$292K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1506	−0.623%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1504	−0.733%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1505	−0.673%	$953K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1501	−0.924%	$648K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1503	−0.792%	$2.8M	$568K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1503	−0.792%	$395K	$128K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1506	−0.594%	$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-USDTshort	+0.0100%	4h	0.1504	−0.726%	—	$2.9M	—
Variational Omni IMX	+0.0100%	4h	0.1502	−0.869%	$94K	$131K	—	as long as short
dYdX IMX-USD	+0.0285%	1h	0.1506	−0.610%	$26K	$72	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1504	−0.726%	$191K	$142K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1340%	1h	0.1508	−0.461%	$114K	$11K	20x	as long as short