Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0611%/8h= +67.0% APRpaid last 24h +0.362%

Price spread now: Kraken Futures against KuCoin+0.530%7-day average +0.168% · you sell dearer than you buy

Net, funding: paid 7d − costs−$217as in the Funding arb table

Net, price: spread back to 7d avg − costs−$428as in the Price arb table

costs, in and out, $10k−$4644.644% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.473%+$247 on $10k

Price spread, last 3 days (all we have)−0.391%−$39 · spread now +0.530%, 7d avg +0.168%

Together, before fees+2.082%+$208 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Kraken Futures is 0.362% dearer against KuCoin than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.168%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IMXUSDTM	0.1512	0.0100	pay 0.0050% / 4h	1h 59m	$376K	$159K	50x
Short	Kraken Futures PF_IMXUSD	0.1520	0.0711	get 0.0089% / 1h	59m 09s	$115K	$10K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.530%Rate

Funding earned: $128.4
Price spread: +0.530% → +0.168%: $36.19
Slippage, 4 orders: −$442.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$299.77
Costs to cover: 4.644%
Break-even: 23.3 days

Slippage from KuCoin: live order book, 38 min ago; Kraken Futures: live order book, 3 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 KuCoin live order book, 38 min ago	13.24 bp	155.8 bp −$156	250.4 bp −$2,504	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	68.44 bp	83.2 bp −$83	doesn't fit	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
Variational Omni IMX	−0.0400%	4h	0.1512	−0.017%	$95K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1516	+0.241%	$2K	—	150x	as long as short
dYdX IMX-USD	+0.0010%	1h	0.1516	+0.265%	$27K	$2K	5x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.198%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1519	+0.476%	$3.5M	$281K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1513	+0.069%	$3.6M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1512	0.000%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1513	+0.060%	$948K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1512	0.000%	$648K	$81K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1514	+0.132%	$2.6M	$582K	125x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTMlong	+0.0100%	4h	0.1512	long leg	$376K	$159K	50x
Bitget IMXUSDT	+0.0100%	4h	0.1515	+0.198%	$1.3M	$398K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1513	+0.066%	—	$2.9M	—	as long as short
Kraken Futures PF_IMXUSDshort	+0.0711%	1h	0.1520	+0.530%	$115K	$10K	20x