Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.041%

Price spread now: Bybit against dYdX−0.246%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 Bybit

What this pair did over the last

the charts below follow

Funding, last 6 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. Bybit is 0.246% cheaper against dYdX than usual: you would sell low and buy high (spread −0.246% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 8.2 days 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	0.1502	0	get 0.0000% / 1h	57m 36s	$26K	$4K	5x
Short	Bybit IMXUSDT	0.1498	0.0100	get 0.0050% / 4h	1h 57m	$3.8M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.246%Rate

Funding earned: $21
Price spread: −0.246% → 0.000%: −$24.64
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.64
Costs to cover: 0.210%
Break-even: 15.2 days

Slippage unknown: dYdX: no order-book sample; Bybit: live order book, 5 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 Bybit live order book, 5 min ago	3.34 bp	31.8 bp −$32	87.9 bp −$879	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 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	−0.0018%	4h	0.1496	−0.365%	$94K	$131K	—	as long as short
dYdX IMX-USDlong	0.0000%	1h	0.1502	long leg	$26K	$4K	5x
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1503	+0.055%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.886%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1505	+0.220%	$3.4M	$325K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1500	−0.093%	$3.6M	$5.9M	75x	as long as short
Bybit IMXUSDTshort	+0.0100%	4h	0.1498	−0.246%	$3.8M	$2.2M	75x
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1499	−0.160%	$940K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1500	−0.113%	$641K	$75K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1502	+0.020%	$2.4M	$601K	125x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTM	+0.0100%	4h	0.1501	−0.047%	$375K	$176K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1501	−0.047%	$1.3M	$411K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1500	−0.113%	—	$2.8M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1498	−0.246%	$183K	$128K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.3053%	1h	0.1507	+0.372%	$114K	$10K	20x	as long as short