Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0739%/8h= −80.9% APRpaid last 24h −0.011%

Price spread now: Variational Omni against dYdX−0.332%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Variational Omni is 0.332% cheaper against dYdX than usual: you would sell low and buy high (−$33 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX IMX-USD	0.1506	0.0839	pay 0.0105% / 1h	6m 42s	$26K	$59	5x
Short	Variational Omni IMX	0.1501	0.0100	get 0.0050% / 4h	2h 06m	$94K	$131K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.332%Rate

Funding earned: −$155.1
Price spread: −0.332% → 0.000%: −$33.15
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$198.25
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Variational Omni: RFQ quote, 17 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 Variational Omni RFQ quote, 17 min ago	13.26 bp	doesn't fit	92.8 bp −$928	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
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1506	−0.010%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.601%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1508	+0.129%	$3.4M	$278K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1502	−0.277%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1501	−0.329%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1502	−0.276%	$946K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1504	−0.130%	$649K	$142K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1504	−0.130%	$2.6M	$553K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1507	+0.069%	$394K	$122K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1505	−0.063%	$1.3M	$415K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IMX-USDT	+0.0100%	4h	0.1502	−0.263%	—	$2.9M	—	as long as short
Variational Omni IMXshort	+0.0100%	4h	0.1501	−0.332%	$94K	$131K	—
BloFin IMX-USDT	+0.0340%	4h	0.1505	−0.063%	$193K	$146K	75x	as long as short
dYdX IMX-USDlong	+0.0839%	1h	0.1506	long leg	$26K	$59	5x
Kraken Futures PF_IMXUSD	+0.1085%	1h	0.1507	+0.055%	$114K	$22K	20x	as long as short