Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1126%/8h= −123.3% APRpaid last 24h −0.358%

Price spread now: KuCoin against Kraken Futures−0.426%7-day average −0.168% · you buy dearer than you sell

Net, funding: paid 7d − costs−$655as in the Funding arb table

Net, price: spread back to 7d avg − costs−$435as in the Price arb table

costs, in and out, $10k−$4094.091% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−2.457%−$246 on $10k

Price spread, last 3 days (all we have)+0.258%+$26 · spread now −0.426%, 7d avg −0.168%

Together, before fees−2.199%−$220 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 KuCoin is 0.258% cheaper against Kraken Futures than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.168%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1513	0.1226	pay 0.0153% / 1h	36m 10s	$115K	$11K	20x
Short	KuCoin IMXUSDTM	0.1507	0.0100	get 0.0050% / 4h	3h 36m	$393K	$129K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.426%Rate

Funding earned: −$236.43
Price spread: −0.426% → −0.168%: −$25.83
Slippage, 4 orders: −$387.07
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$671.33
Costs to cover: 4.091%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 36 min ago; KuCoin: live order book, 16 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, 36 min ago	45.78 bp	119.3 bp −$119	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 16 min ago	6.63 bp	113.0 bp −$113	326.6 bp −$3,266	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	0.1509	−0.313%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.102%	$559	$28K	5.5x	as long as short
dYdX IMX-USD	+0.0048%	1h	0.1508	−0.376%	$26K	$72	5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1511	−0.155%	$3.5M	$284K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1508	−0.360%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1506	−0.492%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1507	−0.426%	$953K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1506	−0.492%	$649K	$79K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1506	−0.492%	$2.8M	$563K	125x	as long as short
KuCoin IMXUSDTMshort	+0.0100%	4h	0.1507	−0.426%	$393K	$129K	50x

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	−0.294%	$1.3M	$389K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1508	−0.360%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1505	−0.541%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1507	−0.426%	$192K	$144K	75x	as long as short
Kraken Futures PF_IMXUSDlong	+0.1226%	1h	0.1513	long leg	$115K	$11K	20x