Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2734%/8h= +299.3% APRpaid last 24h +0.292%

Price spread now: Kraken Futures against BloFin+0.148%57s7-day average +0.283% · you sell dearer than you buy

Net, funding: paid 7d − costs+$6as 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−$2402.404% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.462%+$246 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now +0.148%, 7d avg +0.283%

Together, before fees+2.543%+$254 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.135% cheaper against BloFin than usual: you would sell low and buy high (spread +0.148% now, against its 7-day average of +0.283%). If the spread goes back, that is −$13 on $10k: about 4 hours of funding at the current rate (+$82 a day). At the pace of the last 7 days (+2.462% in total) that is about 9 hours. The two prices were read 57 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	BloFin IMX-USDT	0.1495	0.0340	pay 0.0170% / 4h	1h 17m	$182K	$128K	75x
Short	Kraken Futures PF_IMXUSD	0.1497	0.3074	get 0.0384% / 1h	17m 55s	$114K	$10K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.148%Rate

Funding earned: $574.04
Price spread: +0.148% → +0.283%: −$13.47
Slippage, 4 orders: −$218.38
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $320.19
Costs to cover: 2.404%
Break-even: 3.1 days

Slippage from BloFin: live order book, 57 min ago; Kraken Futures: live order book, 24 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 BloFin live order book, 57 min ago	6.72 bp	14.8 bp −$15	44.8 bp −$448	398.7 bp −$39.9K	doesn't fit
Sell Kraken Futures live order book, 24 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	−0.0005%	4h	0.1491	−0.252%	$93K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1494	−0.091%	$2K	—	150x	as long as short
dYdX IMX-USD	+0.0001%	1h	0.1495	−0.020%	$26K	$4K	5x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.338%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1493	−0.104%	$3.5M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1490	−0.314%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1493	−0.120%	$937K	$1.5M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1493	−0.134%	$638K	$75K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1495	0.000%	$2.4M	$604K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1493	−0.134%	$364K	$182K	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	$410K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1494	−0.067%	—	$2.8M	—	as long as short
Hyperliquid IMX	+0.0202%	1h	0.1497	+0.100%	$3.4M	$327K	5x	as long as short
BloFin IMX-USDTlong	+0.0340%	4h	0.1495	long leg	$182K	$128K	75x
Kraken Futures PF_IMXUSDshort	+0.3074%	1h	0.1497	+0.148%	$114K	$10K	20x