Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.361%

Price spread now: Kraken Futures against BingX+0.428%7-day average +0.271% · you sell dearer than you buy

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$218as in the Price arb table

costs, in and out, $10k−$2342.341% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.440%+$244 on $10k

Price spread, last 3 days (all we have)−0.110%−$11 · spread now +0.428%, 7d avg +0.271%

Together, before fees+2.330%+$233 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.157% dearer against BingX than usual: you sell high and buy low (spread +0.428% now, against its 7-day average of +0.271%): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.7 days. Mind the row above: over the last 7 days funding on this pair paid +2.440%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX IMX-USDT	0.1496	0.0100	pay 0.0050% / 4h	1h 06m	—	$2.9M	—
Short	Kraken Futures PF_IMXUSD	0.1502	0.0040	get 0.0005% / 1h	6m 56s	$114K	$23K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.428%Rate

Funding earned: −$12.59
Price spread: +0.428% → +0.271%: $15.65
Slippage, 4 orders: −$214.1
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$231.04
Costs to cover: 2.341%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Kraken Futures: live order book, 10 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, 7 min ago	6.69 bp	22.7 bp −$23	54.7 bp −$547	414.4 bp −$41.4K	936.1 bp −$468.1K
Sell Kraken Futures live order book, 10 min ago	41.73 bp	55.6 bp −$56	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	0.1498	+0.114%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.270%	$559	$28K	5.5x	as long as short
Kraken Futures PF_IMXUSDshort	+0.0040%	1h	0.1502	+0.428%	$114K	$23K	20x
Hyperliquid IMX	+0.0100%	1h	0.1503	+0.468%	$3.5M	$295K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1498	+0.120%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1496	+0.013%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1497	+0.094%	$941K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1496	0.000%	$646K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1497	+0.067%	$2.8M	$579K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1497	+0.067%	$397K	$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	0.1497	+0.067%	$1.3M	$414K	75x	as long as short
BingX IMX-USDTlong	+0.0100%	4h	0.1496	long leg	—	$2.9M	—
Variational Omni IMX	+0.0100%	4h	0.1493	−0.181%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1494	−0.134%	$190K	$146K	75x	as long as short
dYdX IMX-USD	+0.2013%	1h	0.1496	0.000%	$26K	$59	5x	as long as short