Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0984%/8h= −107.8% APRpaid last 24h −0.358%

Price spread now: Gate against Kraken Futures−0.292%7-day average −0.341% · you buy dearer than you sell

Net, funding: paid 7d − costs−$616as in the Funding arb table

Net, price: spread back to 7d avg − costs−$367as in the Price arb table

costs, in and out, $10k−$3723.721% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−2.442%−$244 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now −0.292%, 7d avg −0.341%

Together, before fees−2.480%−$248 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.049% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.292% now, against its 7-day average of −0.341%): +$5 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1508	0.1084	pay 0.0136% / 1h	2m 49s	$114K	$22K	20x
Short	Gate IMX_USDT	0.1504	0.0100	get 0.0050% / 4h	2h 02m	$649K	$142K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.292%Rate

Funding earned: −$206.66
Price spread: −0.292% → −0.341%: $4.87
Slippage, 4 orders: −$347.07
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$573.87
Costs to cover: 3.721%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 19 min ago; Gate: live order book, 19 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, 19 min ago	53.29 bp	123.3 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 19 min ago	6.64 bp	105.9 bp −$106	202.2 bp −$2,022	doesn't fit	doesn't fit

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
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.437%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1506	−0.133%	$3.4M	$279K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1502	−0.458%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1499	−0.610%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1502	−0.425%	$945K	$1.7M	20x	as long as short
Gate IMX_USDTshort	+0.0100%	4h	0.1504	−0.292%	$649K	$142K	50x
MEXC IMX_USDT	+0.0100%	4h	0.1501	−0.491%	$2.6M	$553K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1506	−0.159%	$394K	$122K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1503	−0.358%	$1.3M	$415K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1501	−0.491%	—	$2.9M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IMX	+0.0100%	4h	0.1500	−0.528%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1501	−0.491%	$193K	$146K	75x	as long as short
dYdX IMX-USD	+0.0950%	1h	0.1506	−0.162%	$26K	$59	5x	as long as short
Kraken Futures PF_IMXUSDlong	+0.1084%	1h	0.1508	long leg	$114K	$22K	20x