Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.040%

Price spread now: KuCoin against Injective−0.264%7-day average — · you buy dearer than you sell

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

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. KuCoin is 0.264% cheaper against Injective than usual: you would sell low and buy high (spread −0.264% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 13 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective IMX/USDC PERP	0.1515	0.0033	pay 0.0004% / 1h	14m 49s	$559	$28K	5.5x
Short	KuCoin IMXUSDTM	0.1511	0.0100	get 0.0050% / 4h	14m 49s	$379K	$161K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Injective. 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 InjectivebpFee KuCoinbpOrdersPrice spread, now −0.264%Rate

Funding earned: $14
Price spread: −0.264% → 0.000%: −$26.4
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$24.42
Costs to cover: 0.120%
Break-even: 19.2 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 67 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 67 min ago	6.58 bp	118.3 bp −$118	174.5 bp −$1,745	doesn't fit	doesn't fit

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
Variational Omni IMX	−0.0651%	4h	0.1508	−0.446%	$95K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1512	−0.221%	$2K	—	150x	as long as short
Injective IMX/USDC PERPlong	+0.0033%	1h	0.1515	long leg	$559	$28K	5.5x
OKX IMX-USDT-SWAP	+0.0073%	4h	0.1511	−0.290%	$944K	$1.6M	20x	as long as short
dYdX IMX-USD	+0.0086%	1h	0.1512	−0.215%	$26K	$3K	5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1515	+0.020%	$3.5M	$289K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1510	−0.312%	$3.6M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1509	−0.396%	$3.8M	$2.1M	75x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1510	−0.330%	$647K	$81K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1511	−0.264%	$2.6M	$578K	125x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IMXUSDTMshort	+0.0100%	4h	0.1511	−0.264%	$379K	$161K	50x
Bitget IMXUSDT	+0.0100%	4h	0.1512	−0.198%	$1.3M	$403K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1511	−0.264%	—	$2.9M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1511	−0.264%	$189K	$124K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1075%	1h	0.1515	0.000%	$115K	$10K	20x	as long as short