Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0611%/8h= −66.9% APRpaid last 24h −0.364%

Price spread now: MEXC against Kraken Futures−0.089%7-day average −0.282% · you buy dearer than you sell

Net, funding: paid 7d − costs−$476as in the Funding arb table

Net, price: spread back to 7d avg − costs−$205as in the Price arb table

costs, in and out, $10k−$2242.243% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−2.522%−$252 on $10k

Price spread, last 4 days (all we have)−0.215%−$21 · spread now −0.089%, 7d avg −0.282%

Together, before fees−2.736%−$274 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.193% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.089% now, against its 7-day average of −0.282%): +$19 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1520	0.0711	pay 0.0089% / 1h	32m 21s	$115K	$10K	20x
Short	MEXC IMX_USDT	0.1519	0.0100	get 0.0050% / 4h	1h 32m	$2.6M	$584K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$128.37
Price spread: −0.089% → −0.282%: $19.33
Slippage, 4 orders: −$210.27
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$333.3
Costs to cover: 2.243%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 30 min ago; MEXC: live order book, 5 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, 30 min ago	68.44 bp	108.8 bp −$109	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	6.63 bp	14.5 bp −$14	44.1 bp −$441	209.5 bp −$21.0K	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
Variational Omni IMX	−0.0517%	4h	0.1510	−0.668%	$95K	$131K	—	as long as short
dYdX IMX-USD	0.0000%	1h	0.1521	+0.022%	$27K	$2K	5x	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1521	+0.014%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	−0.352%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1519	−0.073%	$3.7M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1517	−0.221%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1517	−0.188%	$952K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1518	−0.155%	$650K	$81K	50x	as long as short
MEXC IMX_USDTshort	+0.0100%	4h	0.1519	−0.089%	$2.6M	$584K	125x
KuCoin IMXUSDTM	+0.0100%	4h	0.1517	−0.221%	$377K	$159K	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	0.1520	−0.023%	$1.3M	$398K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1518	−0.155%	—	$2.9M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1519	−0.089%	$191K	$125K	75x	as long as short
Hyperliquid IMX	+0.0472%	1h	0.1523	+0.200%	$3.5M	$280K	5x	as long as short
Kraken Futures PF_IMXUSDlong	+0.0711%	1h	0.1520	long leg	$115K	$10K	20x