Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1549%/8h= −169.6% APRpaid last 24h −0.363%

Price spread now: BingX against Kraken Futures−0.452%7-day average −0.271% · you buy dearer than you sell

Net, funding: paid 7d − costs−$499as in the Funding arb table

Net, price: spread back to 7d avg − costs−$264as in the Price arb table

costs, in and out, $10k−$2462.457% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−2.537%−$254 on $10k

Price spread, last 4 days (all we have)+0.133%+$13 · spread now −0.452%, 7d avg −0.271%

Together, before fees−2.404%−$240 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$46 a day on $10k at the current rate, and BingX is 0.181% cheaper against Kraken Futures than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.271%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1501	0.1649	pay 0.0206% / 1h	22m 57s	$114K	$10K	20x
Short	BingX IMX-USDT	0.1494	0.0100	get 0.0050% / 4h	3h 22m	—	$2.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.452%Rate

Funding earned: −$325.22
Price spread: −0.452% → −0.271%: −$18.12
Slippage, 4 orders: −$225.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$589.06
Costs to cover: 2.457%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 29 min ago; BingX: live order book, 12 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, 29 min ago	50.53 bp	123.2 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	6.68 bp	20.0 bp −$20	52.0 bp −$520	331.5 bp −$33.1K	948.8 bp −$474.4K

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	−0.0385%	4h	0.1494	−0.470%	$94K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1496	−0.298%	$2K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.948%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1494	−0.452%	$3.6M	$5.7M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1491	−0.652%	$3.8M	$2.1M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1493	−0.492%	$938K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1492	−0.585%	$639K	$79K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1495	−0.385%	$2.6M	$578K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1494	−0.452%	$380K	$161K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1496	−0.318%	$1.3M	$404K	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-USDTshort	+0.0100%	4h	0.1494	−0.452%	—	$2.9M	—
Hyperliquid IMX	+0.0321%	1h	0.1499	−0.125%	$3.4M	$294K	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1494	−0.452%	$186K	$127K	75x	as long as short
dYdX IMX-USD	+0.0497%	1h	0.1496	−0.332%	$26K	$3K	5x	as long as short
Kraken Futures PF_IMXUSDlong	+0.1649%	1h	0.1501	long leg	$114K	$10K	20x