Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1242%/8h= −136.0% APRpaid last 24h −0.358%

Price spread now: Variational Omni against Kraken Futures−0.317%7-day average −0.402% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−2.422%−$242 on $10k

Price spread, last 3 days (all we have)−0.055%−$5 · spread now −0.317%, 7d avg −0.402%

Together, before fees−2.477%+ Points / potential airdropVariational Omni: Active · farm board−$248 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.085% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.317% now, against its 7-day average of −0.402%): +$9 on $10k if it goes back. Holding the pair costs −$37 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1506	0.1342	pay 0.0168% / 1h	5m 32s	$114K	$11K	20x
Short	Variational Omni IMX	0.1501	0.0100	get 0.0050% / 4h	5m 32s	$94K	$131K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.317%Rate

Funding earned: −$260.85
Price spread: −0.317% → −0.402%: $8.53
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$262.33
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 7 min ago; Variational Omni: RFQ quote, 8 min ago. Net counts fees only.

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, 7 min ago	45.78 bp	119.3 bp −$119	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 8 min ago	10.00 bp	doesn't fit	83.3 bp −$833	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	0.1507	+0.044%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.593%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1505	−0.071%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1502	−0.237%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1505	−0.058%	$952K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1503	−0.204%	$649K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1505	−0.071%	$2.8M	$570K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1505	−0.071%	$393K	$129K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1506	−0.005%	$1.3M	$414K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1504	−0.138%	—	$2.9M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IMXshort	+0.0100%	4h	0.1501	−0.317%	$94K	$131K	—
dYdX IMX-USD	+0.0142%	1h	0.1507	+0.068%	$26K	$72	5x	as long as short
Hyperliquid IMX	+0.0197%	1h	0.1511	+0.307%	$3.5M	$287K	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1502	−0.270%	$190K	$142K	75x	as long as short
Kraken Futures PF_IMXUSDlong	+0.1342%	1h	0.1506	long leg	$114K	$11K	20x