IMX

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0986%/8h= −107.9% APRnext payment −$1.23 per $10,000 · paid last 24h −0.357%

Price spread now: Hyperliquid against Kraken Futures+0.077%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$486as in the Funding arb table

Net, price: spread back to 7d avg − costs−$234as in the Price arb table

costs, in and out, $10k−$2432.431% of the position

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−2.427%−$243 on $10k

Price spread, last 3 days (all we have)−0.088%−$9 · spread now +0.077%, 7d avg −0.010%

Together, before fees−2.515%+ Points / potential airdropHyperliquid: Season 2 · farm board−$251 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.087% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of −0.010%): +$9 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1506	0.1086	pay 0.0136% / 1h	11m 18s	$114K	$22K	20x
Short	Hyperliquid IMX	0.1507	0.0100	get 0.0013% / 1h	11m 18s	$3.4M	$280K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$206.97
Price spread: +0.077% → −0.010%: $8.73
Slippage, 4 orders: −$224.1
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$441.35
Costs to cover: 2.431%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 11 min ago; Hyperliquid: live order book, 10 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, 11 min ago	53.29 bp	123.3 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.32 bp	31.9 bp −$32	doesn't fit	doesn't fit	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
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1506	−0.033%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.575%	$559	$28K	5.5x	as long as short
Hyperliquid IMXshort	+0.0100%	1h	0.1507	+0.077%	$3.4M	$280K	5x
Binance IMXUSDT	+0.0100%	4h	0.1502	−0.262%	$3.7M	$6.0M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1501	−0.381%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1504	−0.182%	$946K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1504	−0.155%	$649K	$142K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1502	−0.288%	$2.6M	$552K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1507	+0.044%	$394K	$122K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1505	−0.089%	$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	0.1503	−0.221%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1503	−0.193%	$94K	$132K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1504	−0.155%	$193K	$146K	75x	as long as short
dYdX IMX-USD	+0.0656%	1h	0.1506	−0.025%	$26K	$59	5x	as long as short
Kraken Futures PF_IMXUSDlong	+0.1086%	1h	0.1506	long leg	$114K	$22K	20x