Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.043%

Price spread now: Binance against dYdX−0.049%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Binance is 0.049% cheaper against dYdX than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX IMX-USD	0.1512	0	get 0.0000% / 1h	57m 24s	$26K	$2K	5x
Short	Binance IMXUSDT	0.1511	0.0100	get 0.0050% / 4h	1h 57m	$3.6M	$5.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now −0.049%Rate

Funding earned: $21
Price spread: −0.049% → 0.000%: −$4.91
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$3.91
Costs to cover: 0.200%
Break-even: 8.3 days

Slippage unknown: dYdX: no order-book sample; Binance: live order book, 11 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Binance live order book, 11 min ago	3.31 bp	23.9 bp −$24	75.3 bp −$753	doesn't fit	doesn't fit

dYdX: 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 14 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	−0.0400%	4h	0.1512	0.000%	$95K	$131K	—	as long as short
dYdX IMX-USDlong	0.0000%	1h	0.1512	long leg	$26K	$2K	5x
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1514	+0.127%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.215%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1515	+0.215%	$3.5M	$281K	5x	as long as short
Binance IMXUSDTshort	+0.0100%	4h	0.1511	−0.049%	$3.6M	$5.7M	75x
Bybit IMXUSDT	+0.0100%	4h	0.1509	−0.208%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1511	−0.069%	$946K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1509	−0.181%	$647K	$81K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1508	−0.248%	$2.6M	$582K	125x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTM	+0.0100%	4h	0.1509	−0.181%	$375K	$159K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1512	+0.017%	$1.3M	$398K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1510	−0.115%	—	$2.9M	—	as long as short
Kraken Futures PF_IMXUSD	+0.0712%	1h	0.1518	+0.444%	$115K	$10K	20x	as long as short