Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0743%/8h= −81.4% APRpaid last 24h −0.291%

Price spread now: BloFin against Kraken Futures−0.216%57s7-day average −0.280% · you buy dearer than you sell

Net, funding: paid 7d − costs−$481as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2432.425% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−2.384%−$238 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now −0.216%, 7d avg −0.280%

Together, before fees−2.458%−$246 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.064% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.216% now, against its 7-day average of −0.280%): +$6 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 7 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1503	0.1083	pay 0.0135% / 1h	38m 24s	$114K	$10K	20x
Short	BloFin IMX-USDT	0.1500	0.0340	get 0.0170% / 4h	38m 24s	$189K	$124K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.216%Rate

Funding earned: −$156.08
Price spread: −0.216% → −0.280%: $6.39
Slippage, 4 orders: −$220.52
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$392.21
Costs to cover: 2.425%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 19 min ago; BloFin: live order book, 58 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, 19 min ago	47.01 bp	127.0 bp −$127	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 58 min ago	9.92 bp	24.3 bp −$24	50.5 bp −$505	301.1 bp −$30.1K	doesn't fit

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	−0.0705%	4h	0.1496	−0.467%	$94K	$131K	—	as long as short
dYdX IMX-USD	0.0000%	1h	0.1501	−0.166%	$26K	$2K	5x	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1500	−0.240%	$2K	—	150x	as long as short
OKX IMX-USDT-SWAP	+0.0022%	4h	0.1499	−0.309%	$939K	$1.6M	20x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.782%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1502	−0.050%	$3.5M	$288K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1500	−0.232%	$3.6M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1496	−0.469%	$3.8M	$2.1M	75x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1499	−0.282%	$642K	$81K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1499	−0.282%	$2.6M	$573K	125x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTM	+0.0100%	4h	0.1498	−0.349%	$373K	$159K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1498	−0.349%	$1.3M	$403K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1499	−0.282%	—	$2.9M	—	as long as short
BloFin IMX-USDTshort	+0.0340%	4h	0.1500	−0.216%	$189K	$124K	75x
Kraken Futures PF_IMXUSDlong	+0.1083%	1h	0.1503	long leg	$114K	$10K	20x