Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.045%

Price spread now: Injective against Variational Omni−0.345%91s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.345% cheaper against Variational Omni than usual: you would sell low and buy high (−$35 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 91 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	Variational Omni IMX	0.1520	0.0100	pay 0.0050% / 4h	3h 07m	$95K	$131K	—
Short	Injective IMX/USDC PERP	0.1515	0.0033	get 0.0004% / 1h	7m 51s	$559	$28K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −0.345%Rate

Funding earned: −$14
Price spread: −0.345% → 0.000%: −$34.53
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$48.55
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Injective: no order-book sample. Net counts fees only.

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 Variational Omni RFQ quote, 1 min ago	13.11 bp	doesn't fit	85.2 bp −$852	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.1528	+0.510%	$2K	—	150x	as long as short
dYdX IMX-USD	+0.0032%	1h	0.1528	+0.510%	$27K	$72	5x	as long as short
Injective IMX/USDC PERPshort	+0.0033%	1h	0.1515	−0.345%	$559	$28K	5.5x
Hyperliquid IMX	+0.0100%	1h	0.1531	+0.733%	$3.5M	$283K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1527	+0.451%	$3.7M	$5.8M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1525	+0.313%	$3.9M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1528	+0.510%	$968K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1525	+0.313%	$655K	$83K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1527	+0.444%	$2.8M	$565K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1527	+0.444%	$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	0.1529	+0.576%	$1.3M	$403K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1525	+0.313%	—	$2.9M	—	as long as short
Variational Omni IMXlong	+0.0100%	4h	0.1520	long leg	$95K	$131K	—
BloFin IMX-USDT	+0.0340%	4h	0.1524	+0.247%	$192K	$133K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1211%	1h	0.1532	+0.801%	$116K	$11K	20x	as long as short