Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.050%

Price spread now: Injective against OKX+1.494%58s7-day average — · you sell dearer than you buy

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 1.494% dearer against OKX than usual: you sell high and buy low (spread +1.494% now, against zero (this spread has no 7-day history yet)): +$149 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IMX-USDT-SWAP	0.1493	0.0100	pay 0.0050% / 4h	3h 12m	$938K	$1.6M	20x
Short	Injective IMX/USDC PERP	0.1515	0.0033	get 0.0004% / 1h	12m 22s	$559	$28K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.494%Rate

Funding earned: −$14
Price spread: +1.494% → 0.000%: $149.39
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $125.37
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 4 min ago; Injective: no order-book sample. 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 OKX live order book, 4 min ago	1.67 bp	33.6 bp −$34	2112.0 bp −$21.1K	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0335%	4h	0.1493	+0.036%	$94K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1494	+0.087%	$2K	—	150x	as long as short
Injective IMX/USDC PERPshort	+0.0033%	1h	0.1515	+1.494%	$559	$28K	5.5x
Binance IMXUSDT	+0.0100%	4h	0.1494	+0.106%	$3.6M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1491	−0.094%	$3.8M	$2.1M	75x	as long as short
OKX IMX-USDT-SWAPlong	+0.0100%	4h	0.1493	long leg	$938K	$1.6M	20x
Gate IMX_USDT	+0.0100%	4h	0.1493	+0.020%	$639K	$80K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1495	+0.154%	$2.6M	$581K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1494	+0.087%	$380K	$162K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1495	+0.154%	$1.3M	$404K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IMX-USDT	+0.0100%	4h	0.1494	+0.087%	—	$2.9M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1494	+0.087%	$186K	$127K	75x	as long as short
Hyperliquid IMX	+0.0371%	1h	0.1499	+0.395%	$3.4M	$294K	5x	as long as short
dYdX IMX-USD	+0.0433%	1h	0.1495	+0.136%	$26K	$4K	5x	as long as short
Kraken Futures PF_IMXUSD	+0.1650%	1h	0.1500	+0.484%	$114K	$10K	20x	as long as short