Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0090%/8h= −9.8% APRpaid last 24h −0.001%

Price spread now: BingX against Hyperliquid−0.455%7-day average −0.269% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$970.969% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 7 days+0.199%+$20 · spread now −0.455%, 7d avg −0.269%

Together, before fees+0.198%+ Points / potential airdropHyperliquid: Season 2 · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BingX is 0.186% cheaper against Hyperliquid than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.269%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid IMX	0.1515	0.0190	pay 0.0024% / 1h	3m 10s	$3.5M	$287K	5x
Short	BingX IMX-USDT	0.1508	0.0100	get 0.0050% / 4h	3m 10s	—	$2.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now −0.455%Rate

Funding earned: −$18.83
Price spread: −0.455% → −0.269%: −$18.64
Slippage, 4 orders: −$77.86
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$134.33
Costs to cover: 0.969%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; BingX: live order book, 6 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 Hyperliquid live order book, 8 min ago	1.99 bp	22.8 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	6.65 bp	22.7 bp −$23	53.4 bp −$534	391.3 bp −$39.1K	1052.2 bp −$526.1K

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	0.1510	−0.341%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.007%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1509	−0.376%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1507	−0.521%	$3.9M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1509	−0.403%	$955K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1506	−0.587%	$650K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1509	−0.389%	$2.8M	$570K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1507	−0.521%	$394K	$129K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1509	−0.389%	$1.3M	$402K	75x	as long as short
BingX IMX-USDTshort	+0.0100%	4h	0.1508	−0.455%	—	$2.9M	—

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IMX	+0.0100%	4h	0.1501	−0.898%	$94K	$131K	—	as long as short
dYdX IMX-USD	+0.0147%	1h	0.1507	−0.515%	$26K	$72	5x	as long as short
Hyperliquid IMXlong	+0.0190%	1h	0.1515	long leg	$3.5M	$287K	5x
BloFin IMX-USDT	+0.0340%	4h	0.1507	−0.521%	$190K	$142K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1336%	1h	0.1514	−0.090%	$115K	$11K	20x	as long as short