Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: OKX against Hyperliquid−0.364%7-day average −0.272% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1291.292% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 4 days (all we have)+0.144%+$14 · spread now −0.364%, 7d avg −0.272%

Together, before fees+0.084%+ Points / potential airdropHyperliquid: Season 2 · farm board+$8 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: OKX is 0.092% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.272%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid IMX	0.1513	0.0100	pay 0.0013% / 1h	24m 44s	$3.5M	$279K	5x
Short	OKX IMX-USDT-SWAP	0.1507	0.0100	get 0.0050% / 4h	2h 24m	$948K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.364%Rate

Funding earned: $0
Price spread: −0.364% → −0.272%: −$9.2
Slippage, 4 orders: −$110.16
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$138.36
Costs to cover: 1.292%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; OKX: live order book, 2 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, 7 min ago	1.66 bp	21.6 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	4.31 bp	36.4 bp −$36	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	0.1510	−0.203%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.139%	$559	$28K	5.5x	as long as short
Hyperliquid IMXlong	+0.0100%	1h	0.1513	long leg	$3.5M	$279K	5x
Binance IMXUSDT	+0.0100%	4h	0.1508	−0.356%	$3.7M	$6.0M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1508	−0.350%	$3.9M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAPshort	+0.0100%	4h	0.1507	−0.364%	$948K	$1.6M	20x
Gate IMX_USDT	+0.0100%	4h	0.1508	−0.324%	$651K	$142K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1507	−0.390%	$2.6M	$549K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1510	−0.192%	$395K	$121K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1509	−0.258%	$1.3M	$414K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IMX-USDT	+0.0100%	4h	0.1509	−0.258%	—	$2.6M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1507	−0.360%	$94K	$132K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1500	−0.853%	$193K	$146K	75x	as long as short
dYdX IMX-USD	+0.0447%	1h	0.1508	−0.324%	$26K	$59	5x	as long as short
Kraken Futures PF_IMXUSD	+0.1082%	1h	0.1511	−0.097%	$115K	$22K	20x	as long as short