Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.1626%/8h= −178.0% APRpaid last 24h −0.361%

Price spread now: BloFin against Kraken Futures−0.242%7-day average −0.286% · you buy dearer than you sell

Net, funding: paid 7d − costs−$488as in the Funding arb table

Net, price: spread back to 7d avg − costs−$225as in the Price arb table

costs, in and out, $10k−$2302.299% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−2.582%−$258 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now −0.242%, 7d avg −0.286%

Together, before fees−2.683%−$268 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.044% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.242% now, against its 7-day average of −0.286%): +$4 on $10k if it goes back. Holding the pair costs −$49 a day in funding at the current rate, which eats that in about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1485	0.1966	pay 0.0246% / 1h	30m 30s	$113K	$4K	20x
Short	BloFin IMX-USDT	0.1481	0.0340	get 0.0170% / 4h	1h 30m	$181K	$149K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now −0.242%Rate

Funding earned: −$341.36
Price spread: −0.242% → −0.286%: $4.42
Slippage, 4 orders: −$207.88
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$566.82
Costs to cover: 2.299%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 15 min ago; BloFin: live order book, 7 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, 15 min ago	62.50 bp	96.8 bp −$97	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	3.36 bp	21.3 bp −$21	43.1 bp −$431	309.9 bp −$31.0K	doesn't fit

IMX on 15 exchanges

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 IMX	−0.0083%	4h	0.1478	−0.434%	$93K	$98K	—	as long as short
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1483	−0.138%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+2.048%	$559	$27K	5.5x	as long as short
dYdX IMX-USD	+0.0058%	1h	0.1483	−0.131%	$33K	$18K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1480	−0.285%	$3.5M	$5.3M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1479	−0.410%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1479	−0.350%	$923K	$1.4M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1479	−0.376%	$633K	$59K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1482	−0.174%	$2.4M	$573K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1481	−0.242%	$344K	$183K	50x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget IMXUSDT	+0.0100%	4h	0.1482	−0.174%	$1.3M	$297K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1481	−0.242%	—	$4.3M	—	as long as short
BloFin IMX-USDTshort	+0.0340%	4h	0.1481	−0.242%	$181K	$149K	75x
Hyperliquid IMX	+0.0416%	1h	0.1487	+0.135%	$3.4M	$235K	5x	as long as short
Kraken Futures PF_IMXUSDlong	+0.1966%	1h	0.1485	long leg	$113K	$4K	20x