Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0602%/8h= +65.9% APRpaid last 24h +0.045%

Price spread now: Injective against Variational Omni−0.311%76s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Injective is 0.311% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.311% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$31 on $10k: about 41 hours of funding at the current rate (+$18 a day). The two prices were read 76 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	Variational Omni IMX	0.1520	−0.0569	get 0.0284% / 4h	1h 17m	$95K	$131K	—
Short	Injective IMX/USDC PERP	0.1515	0.0033	get 0.0004% / 1h	17m 56s	$559	$28K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −0.311%Rate

Funding earned: $126.43
Price spread: −0.311% → 0.000%: −$31.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $95.36
Costs to cover: 0.000%
Break-even: 1.7 days

Slippage unknown: Variational Omni: RFQ quote, 46 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 Variational Omni RFQ quote, 46 min ago	9.94 bp	doesn't fit	122.6 bp −$1,226	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 IMXlong	−0.0569%	4h	0.1520	long leg	$95K	$131K	—
dYdX IMX-USD	0.0000%	1h	0.1524	+0.262%	$27K	$2K	5x	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1521	+0.090%	$2K	—	150x	as long as short
Injective IMX/USDC PERPshort	+0.0033%	1h	0.1515	−0.311%	$559	$28K	5.5x
OKX IMX-USDT-SWAP	+0.0078%	4h	0.1520	+0.032%	$952K	$1.6M	20x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1520	+0.018%	$3.7M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1518	−0.113%	$3.8M	$2.2M	75x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1520	+0.018%	$651K	$82K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1521	+0.084%	$2.7M	$585K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1520	+0.018%	$378K	$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	0.1521	+0.084%	$1.3M	$400K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1522	+0.150%	—	$2.9M	—	as long as short
Hyperliquid IMX	+0.0177%	1h	0.1525	+0.354%	$3.5M	$279K	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1522	+0.150%	$190K	$125K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.0710%	1h	0.1523	+0.236%	$116K	$10K	20x	as long as short