Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Hyperliquid against BingX+0.313%7-day average +0.269% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1031.032% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days−0.046%−$5 · spread now +0.313%, 7d avg +0.269%

Together, before fees−0.045%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 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: Hyperliquid is 0.044% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.269%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX IMX-USDT	0.1502	0.0100	pay 0.0050% / 4h	1h 38m	—	$2.9M	—
Short	Hyperliquid IMX	0.1507	0.0100	get 0.0013% / 1h	38m 23s	$3.4M	$279K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.313%Rate

Funding earned: $0
Price spread: +0.313% → +0.269%: $4.43
Slippage, 4 orders: −$84.2
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$98.77
Costs to cover: 1.032%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Hyperliquid: live order book, 3 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 BingX live order book, 11 min ago	10.02 bp	26.7 bp −$27	55.3 bp −$553	401.8 bp −$40.2K	952.4 bp −$476.2K
Sell Hyperliquid live order book, 3 min ago	2.32 bp	29.5 bp −$29	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
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1503	+0.067%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.866%	$559	$28K	5.5x	as long as short
Kraken Futures PF_IMXUSD	+0.0040%	1h	0.1507	+0.361%	$114K	$22K	20x	as long as short
Hyperliquid IMXshort	+0.0100%	1h	0.1507	+0.313%	$3.4M	$279K	5x
Binance IMXUSDT	+0.0100%	4h	0.1502	+0.018%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1501	−0.080%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1502	−0.020%	$943K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1502	0.000%	$648K	$140K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1503	+0.067%	$2.6M	$550K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1504	+0.133%	$392K	$120K	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	0.1502	0.000%	$1.3M	$415K	75x	as long as short
BingX IMX-USDTlong	+0.0100%	4h	0.1502	long leg	—	$2.9M	—
Variational Omni IMX	+0.0100%	4h	0.1500	−0.111%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1500	−0.133%	$191K	$147K	75x	as long as short
dYdX IMX-USD	+0.4984%	1h	0.1502	−0.007%	$26K	$59	5x	as long as short