Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1127%/8h= −123.4% APRpaid last 24h −0.358%

Price spread now: Binance against Kraken Futures−0.453%7-day average −0.282% · you buy dearer than you sell

Net, funding: paid 7d − costs−$474as in the Funding arb table

Net, price: spread back to 7d avg − costs−$242as in the Price arb table

costs, in and out, $10k−$2242.245% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−2.491%−$249 on $10k

Price spread, last 3 days (all we have)+0.245%+$24 · spread now −0.453%, 7d avg −0.282%

Together, before fees−2.246%−$225 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and Binance is 0.171% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.282%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1512	0.1227	pay 0.0153% / 1h	39m 17s	$115K	$11K	20x
Short	Binance IMXUSDT	0.1505	0.0100	get 0.0050% / 4h	3h 39m	$3.7M	$5.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.453%Rate

Funding earned: −$236.7
Price spread: −0.453% → −0.282%: −$17.09
Slippage, 4 orders: −$204.48
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$478.27
Costs to cover: 2.245%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 33 min ago; Binance: live order book, 14 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 Kraken Futures live order book, 33 min ago	45.78 bp	119.3 bp −$119	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	3.31 bp	21.0 bp −$21	68.7 bp −$687	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	0.1508	−0.273%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.208%	$559	$28K	5.5x	as long as short
dYdX IMX-USD	+0.0055%	1h	0.1509	−0.189%	$26K	$72	5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1511	−0.063%	$3.5M	$284K	5x	as long as short
Binance IMXUSDTshort	+0.0100%	4h	0.1505	−0.453%	$3.7M	$5.9M	75x
Bybit IMXUSDT	+0.0100%	4h	0.1504	−0.513%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1506	−0.374%	$952K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1510	−0.123%	$651K	$79K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1506	−0.387%	$2.8M	$562K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1508	−0.255%	$393K	$129K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget IMXUSDT	+0.0100%	4h	0.1509	−0.189%	$1.3M	$395K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1508	−0.255%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1507	−0.337%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1507	−0.321%	$192K	$144K	75x	as long as short
Kraken Futures PF_IMXUSDlong	+0.1227%	1h	0.1512	long leg	$115K	$11K	20x