Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.3296%/8h= −360.9% APRpaid last 24h −0.399%

Price spread now: Binance against Kraken Futures−0.432%7-day average −0.286% · you buy dearer than you sell

Net, funding: paid 7d − costs−$839as in the Funding arb table

Net, price: spread back to 7d avg − costs−$582as in the Price arb table

costs, in and out, $10k−$5675.672% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−2.716%−$272 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.432%, 7d avg −0.286%

Together, before fees−2.588%−$259 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$99 a day on $10k at the current rate, and Binance is 0.146% cheaper against Kraken Futures than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.286%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1499	0.3396	pay 0.0424% / 1h	30m 01s	$114K	$8K	20x
Short	Binance IMXUSDT	0.1493	0.0100	get 0.0050% / 4h	3h 30m	$3.6M	$5.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.432%Rate

Funding earned: −$692.07
Price spread: −0.432% → −0.286%: −$14.56
Slippage, 4 orders: −$547.19
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$1,273.82
Costs to cover: 5.672%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Binance: live order book, 8 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 Kraken Futures live order book, 2 min ago	69.65 bp	435.6 bp −$436	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	3.33 bp	20.5 bp −$20	76.1 bp −$761	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
Variational Omni IMX	−0.0051%	4h	0.1492	−0.515%	$94K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1495	−0.272%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.036%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1498	−0.118%	$3.4M	$331K	5x	as long as short
Binance IMXUSDTshort	+0.0100%	4h	0.1493	−0.432%	$3.6M	$5.9M	75x
Bybit IMXUSDT	+0.0100%	4h	0.1492	−0.498%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1494	−0.372%	$931K	$1.5M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1491	−0.565%	$636K	$72K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1492	−0.498%	$2.5M	$601K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1492	−0.498%	$352K	$184K	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	0.1494	−0.365%	$1.3M	$384K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1491	−0.565%	—	$2.8M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1488	−0.765%	$182K	$146K	75x	as long as short
dYdX IMX-USD	+0.0963%	1h	0.1495	−0.318%	$33K	$18K	5x	as long as short
Kraken Futures PF_IMXUSDlong	+0.3396%	1h	0.1499	long leg	$114K	$8K	20x