Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1614%/8h= −176.7% APRpaid last 24h +0.052%

Price spread now: BloFin against dYdX−0.294%92s7-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 BloFin

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

Both sides work against this trade now: funding costs −$48 a day on $10k at the current rate, and BloFin is 0.294% cheaper against dYdX than usual: you would sell low and buy high (−$29 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 92 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	dYdX IMX-USD	0.1498	0.1954	pay 0.0244% / 1h	5m 29s	$26K	$59	5x
Short	BloFin IMX-USDT	0.1494	0.0340	get 0.0170% / 4h	1h 05m	$190K	$146K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.294%Rate

Funding earned: −$338.97
Price spread: −0.294% → 0.000%: −$29.36
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$390.34
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; BloFin: live order book, 4 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 BloFin live order book, 4 min ago	3.34 bp	26.4 bp −$26	47.4 bp −$474	290.2 bp −$29.0K	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 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	0.1499	+0.022%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.108%	$559	$28K	5.5x	as long as short
Kraken Futures PF_IMXUSD	+0.0040%	1h	0.1503	+0.331%	$114K	$23K	20x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1504	+0.374%	$3.5M	$295K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1498	−0.046%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1499	+0.013%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1497	−0.087%	$942K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1497	−0.093%	$646K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1498	−0.027%	$2.8M	$579K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1499	+0.040%	$398K	$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	0.1499	+0.040%	$1.3M	$414K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1497	−0.093%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1493	−0.340%	$94K	$131K	—	as long as short
BloFin IMX-USDTshort	+0.0340%	4h	0.1494	−0.294%	$190K	$146K	75x
dYdX IMX-USDlong	+0.1954%	1h	0.1498	long leg	$26K	$59	5x