Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against KuCoin−0.034%7-day average −0.180% · you buy dearer than you sell

Net, funding: paid 7d − costs−$228as in the Funding arb table

Net, price: spread back to 7d avg − costs−$213as in the Price arb table

costs, in and out, $10k−$2282.280% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now −0.034%, 7d avg −0.180%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.146% dearer against KuCoin than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.180%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IMXUSDTM	0.1492	0.0100	pay 0.0050% / 4h	1h 48m	$364K	$187K	50x
Short	Bybit IMXUSDT	0.1492	0.0100	get 0.0050% / 4h	1h 48m	$3.8M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.034%Rate

Funding earned: $0
Price spread: −0.034% → −0.180%: $14.64
Slippage, 4 orders: −$205.02
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$213.38
Costs to cover: 2.280%
Break-even: never at this rate

Slippage from KuCoin: live order book, 70 min ago; Bybit: live order book, 4 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 KuCoin live order book, 70 min ago	10.08 bp	84.0 bp −$84	263.8 bp −$2,638	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	6.71 bp	29.5 bp −$29	84.6 bp −$846	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
Variational Omni IMX	−0.0081%	4h	0.1491	−0.050%	$93K	$131K	—	as long as short
dYdX IMX-USD	0.0000%	1h	0.1496	+0.250%	$26K	$4K	5x	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1494	+0.110%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.542%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1497	+0.335%	$3.4M	$325K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1493	+0.081%	$3.5M	$5.9M	75x	as long as short
Bybit IMXUSDTshort	+0.0100%	4h	0.1492	−0.034%	$3.8M	$2.2M	75x
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1493	+0.094%	$937K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1492	0.000%	$638K	$75K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1493	+0.067%	$2.4M	$603K	125x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTMlong	+0.0100%	4h	0.1492	long leg	$364K	$187K	50x
Bitget IMXUSDT	+0.0100%	4h	0.1495	+0.201%	$1.3M	$411K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1493	+0.067%	—	$2.8M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1492	0.000%	$184K	$128K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.3068%	1h	0.1500	+0.535%	$114K	$10K	20x	as long as short