Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: Bybit against OKX−0.140%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1381.378% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 7 days+0.089%+$9 · spread now −0.140%, 7d avg −0.075%

Together, before fees+0.137%+$14 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: Bybit is 0.065% cheaper against OKX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IMX-USDT-SWAP	0.1499	0.0100	pay 0.0050% / 4h	2h 00m	$941K	$1.6M	20x
Short	Bybit IMXUSDT	0.1497	0.0100	get 0.0050% / 4h	2h 00m	$3.8M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → −0.075%: −$6.52
Slippage, 4 orders: −$116.78
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$144.3
Costs to cover: 1.378%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bybit: live order book, 2 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 OKX live order book, 2 min ago	1.67 bp	38.4 bp −$38	2343.7 bp −$23.4K	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	3.34 bp	31.8 bp −$32	87.9 bp −$879	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	−0.0018%	4h	0.1496	−0.212%	$94K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1500	+0.044%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.040%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1504	+0.307%	$3.4M	$325K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1501	+0.107%	$3.6M	$5.9M	75x	as long as short
Bybit IMXUSDTshort	+0.0100%	4h	0.1497	−0.140%	$3.8M	$2.2M	75x
OKX IMX-USDT-SWAPlong	+0.0100%	4h	0.1499	long leg	$941K	$1.6M	20x
Gate IMX_USDT	+0.0100%	4h	0.1499	−0.027%	$641K	$78K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1501	+0.107%	$2.4M	$618K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1499	−0.027%	$379K	$176K	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	0.1501	+0.107%	$1.3M	$410K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1499	−0.027%	—	$2.8M	—	as long as short
dYdX IMX-USD	+0.0325%	1h	0.1500	+0.040%	$26K	$4K	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1498	−0.093%	$182K	$128K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.2032%	1h	0.1506	+0.438%	$114K	$10K	20x	as long as short