Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0749%/8h= +82.0% APRpaid last 24h +0.360%

Price spread now: Kraken Futures against OKX+0.237%45s7-day average +0.280% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as 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−$2702.699% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.477%+$248 on $10k

Price spread, last 3 days (all we have)+0.113%+$11 · spread now +0.237%, 7d avg +0.280%

Together, before fees+2.590%+$259 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.044% cheaper against OKX than usual: you would sell low and buy high (spread +0.237% now, against its 7-day average of +0.280%). If the spread goes back, that is −$4 on $10k: about 5 hours of funding at the current rate (+$22 a day). The two prices were read 45 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	OKX IMX-USDT-SWAP	0.1507	0.0100	pay 0.0050% / 4h	3h 30m	$951K	$1.7M	20x
Short	Kraken Futures PF_IMXUSD	0.1511	0.0849	get 0.0106% / 1h	30m 31s	$115K	$23K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.237%Rate

Funding earned: $157.25
Price spread: +0.237% → +0.280%: −$4.36
Slippage, 4 orders: −$249.94
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$117.05
Costs to cover: 2.699%
Break-even: 12.2 days

Slippage from OKX: live order book, 2 min ago; Kraken Futures: live order book, 17 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 OKX live order book, 2 min ago	3.32 bp	38.2 bp −$38	2407.5 bp −$24.1K	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 17 min ago	51.57 bp	66.8 bp −$67	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	0.1508	+0.060%	$6K	—	150x	as long as short
dYdX IMX-USD	+0.0029%	1h	0.1508	+0.060%	$26K	$59	5x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.518%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1511	+0.239%	$3.5M	$289K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1507	−0.015%	$3.7M	$6.0M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1506	−0.073%	$3.9M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAPlong	+0.0100%	4h	0.1507	long leg	$951K	$1.7M	20x
Gate IMX_USDT	+0.0100%	4h	0.1506	−0.080%	$650K	$148K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1507	−0.013%	$2.5M	$533K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1510	+0.186%	$390K	$121K	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	0.1508	+0.053%	$1.3M	$412K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1506	−0.080%	—	$2.6M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1506	−0.048%	$94K	$132K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1501	−0.411%	$194K	$134K	75x	as long as short
Kraken Futures PF_IMXUSDshort	+0.0849%	1h	0.1511	+0.237%	$115K	$23K	20x