Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0386%/8h= −42.3% APRpaid last 24h −0.045%

Price spread now: Variational Omni against Injective−0.281%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Variational Omni is 0.281% cheaper against Injective than usual: you would sell low and buy high (−$28 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

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	9m 10s	$559	$28K	5.5x
Short	Variational Omni IMX	0.1511	−0.0353	pay 0.0176% / 4h	2h 09m	$95K	$131K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. 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 InjectivebpFee Variational OmnibpOrdersPrice spread, now −0.281%Rate

Funding earned: −$81.12
Price spread: −0.281% → 0.000%: −$28.15
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$109.29
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 60 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 Variational Omni RFQ quote, 60 min ago	13.11 bp	doesn't fit	85.2 bp −$852	doesn't fit	doesn't fit

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 14 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
Variational Omni IMXshort	−0.0353%	4h	0.1511	−0.281%	$95K	$131K	—
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1513	−0.157%	$2K	—	150x	as long as short
dYdX IMX-USD	+0.0011%	1h	0.1513	−0.158%	$26K	$2K	5x	as long as short
Injective IMX/USDC PERPlong	+0.0033%	1h	0.1515	long leg	$559	$28K	5.5x
Hyperliquid IMX	+0.0100%	1h	0.1515	−0.020%	$3.5M	$280K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1510	−0.330%	$3.6M	$5.8M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1507	−0.528%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1509	−0.370%	$945K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1509	−0.396%	$647K	$83K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1510	−0.330%	$2.6M	$588K	125x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTM	+0.0100%	4h	0.1510	−0.330%	$375K	$159K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1512	−0.198%	$1.3M	$398K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1509	−0.396%	—	$2.9M	—	as long as short
Kraken Futures PF_IMXUSD	+0.1295%	1h	0.1513	−0.152%	$115K	$11K	20x	as long as short