Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.3272%/8h= −358.3% APRpaid last 24h −0.399%

Price spread now: OKX against Kraken Futures−0.439%7-day average −0.287% · you buy dearer than you sell

Net, funding: paid 7d − costs−$684as in the Funding arb table

Net, price: spread back to 7d avg − costs−$426as in the Price arb table

costs, in and out, $10k−$4114.111% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−2.726%−$273 on $10k

Price spread, last 4 days (all we have)+0.210%+$21 · spread now −0.439%, 7d avg −0.287%

Together, before fees−2.516%−$252 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$98 a day on $10k at the current rate, and OKX is 0.153% cheaper against Kraken Futures than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.287%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1510	0.3372	pay 0.0422% / 1h	51m 19s	$115K	$10K	20x
Short	OKX IMX-USDT-SWAP	0.1503	0.0100	get 0.0050% / 4h	3h 51m	$939K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.439%Rate

Funding earned: −$687.13
Price spread: −0.439% → −0.287%: −$15.26
Slippage, 4 orders: −$391.06
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$1,113.45
Costs to cover: 4.111%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 46 min ago; OKX: 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, 46 min ago	68.25 bp	243.3 bp −$243	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	3.00 bp	33.6 bp −$34	doesn't fit	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	0.1506	−0.293%	$6K	—	150x	as long as short
dYdX IMX-USD	0.0000%	1h	0.1500	−0.678%	$26K	$8K	5x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.336%	$559	$28K	5.5x	as long as short
Variational Omni IMX	+0.0051%	4h	0.1499	−0.707%	$94K	$131K	—	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1508	−0.121%	$3.4M	$325K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1503	−0.459%	$3.6M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1502	−0.525%	$3.8M	$2.3M	75x	as long as short
OKX IMX-USDT-SWAPshort	+0.0100%	4h	0.1503	−0.439%	$939K	$1.5M	20x
Gate IMX_USDT	+0.0100%	4h	0.1502	−0.525%	$641K	$72K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1503	−0.459%	$2.4M	$592K	125x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTM	+0.0100%	4h	0.1502	−0.525%	$354K	$184K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1504	−0.393%	$1.3M	$392K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1502	−0.525%	—	$2.8M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1500	−0.658%	$183K	$137K	75x	as long as short
Kraken Futures PF_IMXUSDlong	+0.3372%	1h	0.1510	long leg	$115K	$10K	20x