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: KuCoin against dYdX−0.198%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 KuCoin

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. KuCoin is 0.198% cheaper against dYdX than usual: you would sell low and buy high (spread −0.198% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 6.6 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	0.1516	0	get 0.0000% / 1h	26m 37s	$27K	$2K	5x
Short	KuCoin IMXUSDTM	0.1513	0.0100	get 0.0050% / 4h	1h 26m	$376K	$159K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.198%Rate

Funding earned: $21
Price spread: −0.198% → 0.000%: −$19.79
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$20.79
Costs to cover: 0.220%
Break-even: 13.9 days

Slippage unknown: dYdX: no order-book sample; KuCoin: live order book, 70 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 KuCoin live order book, 70 min ago	13.24 bp	116.5 bp −$117	196.7 bp −$1,967	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	−0.0552%	4h	0.1517	+0.045%	$95K	$131K	—	as long as short
dYdX IMX-USDlong	0.0000%	1h	0.1516	long leg	$27K	$2K	5x
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1514	−0.158%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	−0.066%	$559	$28K	5.5x	as long as short
OKX IMX-USDT-SWAP	+0.0091%	4h	0.1513	−0.191%	$948K	$1.6M	20x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1513	−0.198%	$3.6M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1511	−0.330%	$3.8M	$2.2M	75x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1513	−0.198%	$648K	$82K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1513	−0.198%	$2.6M	$584K	125x	as long as short
KuCoin IMXUSDTMshort	+0.0100%	4h	0.1513	−0.198%	$376K	$159K	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget IMXUSDT	+0.0100%	4h	0.1515	−0.066%	$1.3M	$400K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1513	−0.198%	—	$2.9M	—	as long as short
Hyperliquid IMX	+0.0324%	1h	0.1517	+0.086%	$3.5M	$280K	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1521	+0.330%	$189K	$125K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.0714%	1h	0.1515	−0.069%	$115K	$10K	20x	as long as short