Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2984%/8h= +326.7% APRpaid last 24h +0.364%

Price spread now: Kraken Futures against Binance+0.290%54s7-day average +0.285% · you sell dearer than you buy

Net, funding: paid 7d − costs+$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2442.441% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.640%+$264 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.290%, 7d avg +0.285%

Together, before fees+2.558%+$256 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.285%, so right now this pair is about funding alone: +$90 a day on $10k at the current rate. The two prices were read 54 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	Binance IMXUSDT	0.1488	0.0100	pay 0.0050% / 4h	1h 30m	$3.5M	$5.9M	75x
Short	Kraken Futures PF_IMXUSD	0.1492	0.3084	get 0.0385% / 1h	30m 22s	$113K	$10K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.290%Rate

Funding earned: $626.56
Price spread: +0.290% → +0.285%: $0.48
Slippage, 4 orders: −$224.07
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $382.97
Costs to cover: 2.441%
Break-even: 2.7 days

Slippage from Binance: live order book, 8 min ago; Kraken Futures: live order book, 12 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 Binance live order book, 8 min ago	3.37 bp	22.4 bp −$22	69.5 bp −$695	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 12 min ago	63.89 bp	79.9 bp −$80	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	−0.0042%	4h	0.1485	−0.187%	$93K	$131K	—	as long as short
dYdX IMX-USD	0.0000%	1h	0.1488	−0.021%	$26K	$4K	5x	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1488	−0.025%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.813%	$559	$28K	5.5x	as long as short
Binance IMXUSDTlong	+0.0100%	4h	0.1488	long leg	$3.5M	$5.9M	75x
Bybit IMXUSDT	+0.0100%	4h	0.1485	−0.216%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1487	−0.042%	$934K	$1.5M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1486	−0.136%	$635K	$75K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1488	−0.001%	$2.4M	$604K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1487	−0.068%	$363K	$189K	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	0.1488	−0.001%	$1.3M	$410K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1487	−0.068%	—	$2.8M	—	as long as short
Hyperliquid IMX	+0.0186%	1h	0.1492	+0.268%	$3.4M	$325K	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1485	−0.203%	$182K	$128K	75x	as long as short
Kraken Futures PF_IMXUSDshort	+0.3084%	1h	0.1492	+0.290%	$113K	$10K	20x