Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.361%

Price spread now: Kraken Futures against BingX+0.307%7-day average +0.271% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$240as in the Price arb table

costs, in and out, $10k−$2432.432% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.440%+$244 on $10k

Price spread, last 3 days (all we have)+0.011%+$1 · spread now +0.307%, 7d avg +0.271%

Together, before fees+2.451%+$245 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.036% dearer against BingX than usual: you sell high and buy low (spread +0.307% now, against its 7-day average of +0.271%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 48 hours. Mind the row above: over the last 7 days funding on this pair paid +2.440%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX IMX-USDT	0.1495	0.0100	pay 0.0050% / 4h	1h 14m	—	$2.9M	—
Short	Kraken Futures PF_IMXUSD	0.1500	0.0040	get 0.0005% / 1h	14m 37s	$114K	$22K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.307%Rate

Funding earned: −$12.57
Price spread: +0.307% → +0.271%: $3.58
Slippage, 4 orders: −$223.17
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$252.17
Costs to cover: 2.432%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Kraken Futures: live order book, 3 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 BingX live order book, 10 min ago	10.03 bp	25.7 bp −$26	56.4 bp −$564	427.1 bp −$42.7K	958.8 bp −$479.4K
Sell Kraken Futures live order book, 3 min ago	41.73 bp	55.6 bp −$56	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	0.1497	+0.114%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.338%	$559	$28K	5.5x	as long as short
Kraken Futures PF_IMXUSDshort	+0.0040%	1h	0.1500	+0.307%	$114K	$22K	20x
Hyperliquid IMX	+0.0100%	1h	0.1501	+0.408%	$3.5M	$289K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1495	+0.015%	$3.6M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1494	−0.067%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1494	−0.047%	$938K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1495	0.000%	$645K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1495	0.000%	$2.8M	$578K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1496	+0.067%	$396K	$124K	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	0.1496	+0.067%	$1.3M	$414K	75x	as long as short
BingX IMX-USDTlong	+0.0100%	4h	0.1495	long leg	—	$2.9M	—
Variational Omni IMX	+0.0100%	4h	0.1493	−0.113%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1495	0.000%	$190K	$146K	75x	as long as short
dYdX IMX-USD	+0.2326%	1h	0.1497	+0.154%	$26K	$59	5x	as long as short