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= +66.9% APRpaid last 24h +0.364%

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

Net, funding: paid 7d − costs+$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$244as in the Price arb table

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

Long on MEXC Short on Kraken Futures

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

Funding pays, the price is against you. Kraken Futures is 0.193% cheaper against MEXC than usual: you would sell low and buy high (spread +0.089% now, against its 7-day average of +0.282%). If the spread goes back, that is −$19 on $10k: about 25 hours of funding at the current rate (+$18 a day).

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

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.089%Rate

Funding earned: $128.37
Price spread: +0.089% → +0.282%: −$19.33
Slippage, 4 orders: −$210.27
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$115.23
Costs to cover: 2.243%
Break-even: 13.3 days

Slippage from MEXC: live order book, 5 min ago; Kraken Futures: live order book, 30 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, 5 min ago	6.63 bp	17.7 bp −$18	43.2 bp −$432	216.2 bp −$21.6K	doesn't fit
Sell Kraken Futures live order book, 30 min ago	68.44 bp	83.2 bp −$83	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
Variational Omni IMX	−0.0517%	4h	0.1510	−0.579%	$95K	$131K	—	as long as short
dYdX IMX-USD	0.0000%	1h	0.1521	+0.112%	$27K	$2K	5x	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1521	+0.103%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	−0.263%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1519	+0.016%	$3.7M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1517	−0.132%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1517	−0.099%	$952K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1518	−0.066%	$650K	$81K	50x	as long as short
MEXC IMX_USDTlong	+0.0100%	4h	0.1519	long leg	$2.6M	$584K	125x
KuCoin IMXUSDTM	+0.0100%	4h	0.1517	−0.132%	$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	+0.066%	$1.3M	$398K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1518	−0.066%	—	$2.9M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1519	0.000%	$191K	$125K	75x	as long as short
Hyperliquid IMX	+0.0472%	1h	0.1523	+0.290%	$3.5M	$280K	5x	as long as short
Kraken Futures PF_IMXUSDshort	+0.0711%	1h	0.1520	+0.089%	$115K	$10K	20x