Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.040%

Price spread now: Injective against BingX+1.474%102s7-day average — · you sell dearer than you buy

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

Long on BingX 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 1.474% dearer against BingX than usual: you sell high and buy low (spread +1.474% now, against zero (this spread has no 7-day history yet)): +$147 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 102 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	BingX IMX-USDT	0.1493	0.0100	pay 0.0050% / 4h	1h 27m	—	$2.9M	—
Short	Injective IMX/USDC PERP	0.1515	0.0033	get 0.0004% / 1h	27m 37s	$559	$28K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.474%Rate

Funding earned: −$14
Price spread: +1.474% → 0.000%: $147.35
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $123.33
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 7 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 BingX live order book, 7 min ago	10.02 bp	27.6 bp −$28	56.1 bp −$561	418.0 bp −$41.8K	955.5 bp −$477.7K
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
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1496	+0.226%	$6K	—	150x	as long as short
Injective IMX/USDC PERPshort	+0.0033%	1h	0.1515	+1.474%	$559	$28K	5.5x
Kraken Futures PF_IMXUSD	+0.0040%	1h	0.1498	+0.368%	$114K	$22K	20x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1498	+0.308%	$3.4M	$279K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1493	0.000%	$3.6M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1492	−0.067%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1493	−0.013%	$936K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1492	−0.067%	$644K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1492	−0.067%	$2.7M	$577K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1497	+0.268%	$395K	$124K	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	0.1494	+0.067%	$1.3M	$415K	75x	as long as short
BingX IMX-USDTlong	+0.0100%	4h	0.1493	long leg	—	$2.9M	—
Variational Omni IMX	+0.0100%	4h	0.1492	−0.046%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1492	−0.067%	$191K	$146K	75x	as long as short
dYdX IMX-USD	+0.3271%	1h	0.1497	+0.253%	$26K	$59	5x	as long as short