Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Hyperliquid against MEXC+0.225%7-day average +0.264% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$690.686% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 7 days+0.056%+$6 · spread now +0.225%, 7d avg +0.264%

Together, before fees+0.092%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.040% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.264%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC IMX_USDT	0.1514	0.0100	pay 0.0050% / 4h	2h 32m	$2.8M	$562K	125x
Short	Hyperliquid IMX	0.1517	0.0100	get 0.0013% / 1h	32m 46s	$3.5M	$283K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.225%Rate

Funding earned: $0
Price spread: +0.225% → +0.264%: −$3.95
Slippage, 4 orders: −$55.62
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$72.57
Costs to cover: 0.686%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Hyperliquid: live order book, 9 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 MEXC live order book, 4 min ago	6.61 bp	14.1 bp −$14	45.2 bp −$452	224.0 bp −$22.4K	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.66 bp	28.0 bp −$28	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	−0.0209%	4h	0.1513	−0.049%	$95K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1512	−0.132%	$2K	—	150x	as long as short
dYdX IMX-USD	+0.0021%	1h	0.1512	−0.132%	$26K	$1K	5x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.066%	$559	$28K	5.5x	as long as short
Hyperliquid IMXshort	+0.0100%	1h	0.1517	+0.225%	$3.5M	$283K	5x
Binance IMXUSDT	+0.0100%	4h	0.1514	−0.012%	$3.7M	$5.8M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1512	−0.132%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1514	−0.026%	$951K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1512	−0.132%	$648K	$83K	50x	as long as short
MEXC IMX_USDTlong	+0.0100%	4h	0.1514	long leg	$2.8M	$562K	125x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTM	+0.0100%	4h	0.1512	−0.132%	$377K	$158K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1515	+0.066%	$1.3M	$399K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1512	−0.132%	—	$2.9M	—	as long as short
Kraken Futures PF_IMXUSD	+0.1295%	1h	0.1513	−0.055%	$115K	$11K	20x	as long as short