Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.040%

Price spread now: BingX against Injective−0.132%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 BingX

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. BingX is 0.132% cheaper against Injective than usual: you would sell low and buy high (spread −0.132% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 6.6 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	20m 53s	$559	$28K	5.5x
Short	BingX IMX-USDT	0.1513	0.0100	get 0.0050% / 4h	2h 20m	—	$2.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now −0.132%Rate

Funding earned: $14
Price spread: −0.132% → 0.000%: −$13.2
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$9.22
Costs to cover: 0.100%
Break-even: 11.6 days

Slippage unknown: Injective: no order-book sample; BingX: 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 BingX live order book, 9 min ago	6.61 bp	23.9 bp −$24	57.4 bp −$574	350.8 bp −$35.1K	963.9 bp −$481.9K

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 14 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	−0.0232%	4h	0.1512	−0.216%	$95K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1517	+0.106%	$2K	—	150x	as long as short
dYdX IMX-USD	+0.0015%	1h	0.1517	+0.114%	$27K	$1K	5x	as long as short
Injective IMX/USDC PERPlong	+0.0033%	1h	0.1515	long leg	$559	$28K	5.5x
Hyperliquid IMX	+0.0100%	1h	0.1518	+0.205%	$3.5M	$282K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1511	−0.264%	$3.6M	$5.8M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1511	−0.271%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1510	−0.297%	$950K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1514	−0.066%	$649K	$83K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1511	−0.264%	$2.7M	$563K	125x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTM	+0.0100%	4h	0.1513	−0.132%	$376K	$159K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1512	−0.198%	$1.3M	$399K	75x	as long as short
BingX IMX-USDTshort	+0.0100%	4h	0.1513	−0.132%	—	$2.9M	—
Kraken Futures PF_IMXUSD	+0.1291%	1h	0.1517	+0.145%	$115K	$11K	20x	as long as short