Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1120%/8h= −122.6% APRpaid last 24h −0.358%

Price spread now: BingX against Kraken Futures−0.407%7-day average −0.272% · you buy dearer than you sell

Net, funding: paid 7d − costs−$475as in the Funding arb table

Net, price: spread back to 7d avg − costs−$243as in the Price arb table

costs, in and out, $10k−$2292.293% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−2.457%−$246 on $10k

Price spread, last 3 days (all we have)+0.177%+$18 · spread now −0.407%, 7d avg −0.272%

Together, before fees−2.280%−$228 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and BingX is 0.135% cheaper against Kraken Futures than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.272%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1521	0.1220	pay 0.0152% / 1h	26m 12s	$115K	$11K	20x
Short	BingX IMX-USDT	0.1515	0.0100	get 0.0050% / 4h	3h 26m	—	$2.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now −0.407%Rate

Funding earned: −$235.12
Price spread: −0.407% → −0.272%: −$13.53
Slippage, 4 orders: −$209.28
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$477.93
Costs to cover: 2.293%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 46 min ago; BingX: live order book, 9 min ago.

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 Kraken Futures live order book, 46 min ago	45.78 bp	119.3 bp −$119	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	6.64 bp	25.1 bp −$25	53.4 bp −$534	321.1 bp −$32.1K	933.8 bp −$466.9K

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 +0.0001% / S +0.0004%	1h	0.1516	−0.352%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	−0.407%	$559	$28K	5.5x	as long as short
dYdX IMX-USD	+0.0034%	1h	0.1515	−0.433%	$26K	$72	5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1521	−0.039%	$3.5M	$285K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1515	−0.379%	$3.7M	$5.8M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1515	−0.407%	$3.9M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1516	−0.341%	$959K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1513	−0.538%	$652K	$80K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1515	−0.407%	$2.8M	$563K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1515	−0.407%	$396K	$128K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget IMXUSDT	+0.0100%	4h	0.1516	−0.341%	$1.3M	$386K	75x	as long as short
BingX IMX-USDTshort	+0.0100%	4h	0.1515	−0.407%	—	$2.9M	—
Variational Omni IMX	+0.0100%	4h	0.1514	−0.456%	$95K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1510	−0.736%	$191K	$144K	75x	as long as short
Kraken Futures PF_IMXUSDlong	+0.1220%	1h	0.1521	long leg	$115K	$11K	20x