Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.040%

Price spread now: Binance against Injective−1.122%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 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 1.122% cheaper against Injective than usual: you would sell low and buy high (spread −1.122% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$112 on $10k: about 56 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective IMX/USDC PERP	0.1515	0.0033	pay 0.0004% / 1h	28m 47s	$559	$28K	5.5x
Short	Binance IMXUSDT	0.1498	0.0100	get 0.0050% / 4h	3h 28m	$3.6M	$5.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BinancebpOrdersPrice spread, now −1.122%Rate

Funding earned: $14
Price spread: −1.122% → 0.000%: −$112.21
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$108.23
Costs to cover: 0.100%
Break-even: 61.1 days

Slippage unknown: Injective: no order-book sample; Binance: live order book, 9 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 9 min ago	3.33 bp	21.7 bp −$22	72.4 bp −$724	doesn't fit	doesn't fit

Injective: 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	−0.0402%	4h	0.1498	−1.106%	$94K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1499	−1.056%	$2K	—	150x	as long as short
Injective IMX/USDC PERPlong	+0.0033%	1h	0.1515	long leg	$559	$28K	5.5x
Binance IMXUSDTshort	+0.0100%	4h	0.1498	−1.122%	$3.6M	$5.7M	75x
Bybit IMXUSDT	+0.0100%	4h	0.1497	−1.201%	$3.8M	$2.1M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1498	−1.129%	$941K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1498	−1.122%	$642K	$79K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1498	−1.122%	$2.6M	$577K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1498	−1.122%	$381K	$164K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1498	−1.122%	$1.3M	$403K	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	0.1498	−1.122%	—	$2.9M	—	as long as short
dYdX IMX-USD	+0.0303%	1h	0.1500	−1.008%	$26K	$3K	5x	as long as short
Hyperliquid IMX	+0.0317%	1h	0.1502	−0.884%	$3.5M	$293K	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1500	−0.990%	$187K	$124K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1646%	1h	0.1504	−0.756%	$114K	$10K	20x	as long as short