Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1240%/8h= −135.8% APRpaid last 24h −0.353%

Price spread now: Bybit against Kraken Futures−0.279%7-day average −0.361% · you buy dearer than you sell

Net, funding: paid 7d − costs−$492as in the Funding arb table

Net, price: spread back to 7d avg − costs−$240as in the Price arb table

costs, in and out, $10k−$2482.482% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−2.440%−$244 on $10k

Price spread, last 3 days (all we have)−0.033%−$3 · spread now −0.279%, 7d avg −0.361%

Together, before fees−2.473%−$247 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.082% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.279% now, against its 7-day average of −0.361%): +$8 on $10k if it goes back. Holding the pair costs −$37 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1508	0.1340	pay 0.0168% / 1h	23m 45s	$114K	$11K	20x
Short	Bybit IMXUSDT	0.1504	0.0100	get 0.0050% / 4h	23m 45s	$3.8M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.279%Rate

Funding earned: −$260.46
Price spread: −0.279% → −0.361%: $8.2
Slippage, 4 orders: −$227.23
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$500.49
Costs to cover: 2.482%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 53 min ago; Bybit: live order book, 4 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, 53 min ago	41.73 bp	134.5 bp −$135	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	6.64 bp	27.9 bp −$28	85.3 bp −$853	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	0.1506	−0.165%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.451%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1508	−0.033%	$3.5M	$290K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1503	−0.345%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDTshort	+0.0100%	4h	0.1504	−0.279%	$3.8M	$2.2M	75x
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1503	−0.365%	$953K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1503	−0.345%	$649K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1503	−0.345%	$2.8M	$569K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1504	−0.279%	$395K	$128K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1506	−0.146%	$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	0.1505	−0.212%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1505	−0.191%	$94K	$131K	—	as long as short
dYdX IMX-USD	+0.0220%	1h	0.1506	−0.153%	$26K	$72	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1506	−0.146%	$191K	$142K	75x	as long as short
Kraken Futures PF_IMXUSDlong	+0.1340%	1h	0.1508	long leg	$114K	$11K	20x