Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1917%/8h= −209.9% APRpaid last 24h −0.387%

Price spread now: KuCoin against Kraken Futures−0.642%7-day average −0.184% · you buy dearer than you sell

Net, funding: paid 7d − costs−$655as in the Funding arb table

Net, price: spread back to 7d avg − costs−$435as in the Price arb table

costs, in and out, $10k−$3893.891% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−2.658%−$266 on $10k

Price spread, last 4 days (all we have)+0.503%+$50 · spread now −0.642%, 7d avg −0.184%

Together, before fees−2.155%−$215 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$58 a day on $10k at the current rate, and KuCoin is 0.458% cheaper against Kraken Futures than usual: you would sell low and buy high (−$46 if the spread goes back to its 7-day average of −0.184%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1495	0.2017	pay 0.0252% / 1h	50m 22s	$114K	$10K	20x
Short	KuCoin IMXUSDTM	0.1485	0.0100	get 0.0050% / 4h	50m 22s	$357K	$183K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.642%Rate

Funding earned: −$402.6
Price spread: −0.642% → −0.184%: −$45.78
Slippage, 4 orders: −$367.06
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$837.44
Costs to cover: 3.891%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 52 min ago; KuCoin: live order book, 53 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, 52 min ago	63.89 bp	119.7 bp −$120	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 53 min ago	13.45 bp	86.5 bp −$87	180.1 bp −$1,801	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
dYdX IMX-USD	0.0000%	1h	0.1489	−0.394%	$26K	$4K	5x	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1488	−0.455%	$2K	—	150x	as long as short
Variational Omni IMX	+0.0008%	4h	0.1485	−0.628%	$93K	$131K	—	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.365%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1486	−0.543%	$3.5M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1485	−0.642%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1488	−0.448%	$934K	$1.5M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1488	−0.441%	$636K	$71K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1487	−0.508%	$2.4M	$593K	125x	as long as short
KuCoin IMXUSDTMshort	+0.0100%	4h	0.1485	−0.642%	$357K	$183K	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget IMXUSDT	+0.0100%	4h	0.1488	−0.441%	$1.3M	$407K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1486	−0.575%	—	$2.8M	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1487	−0.508%	$182K	$128K	75x	as long as short
Hyperliquid IMX	+0.0648%	1h	0.1491	−0.221%	$3.4M	$314K	5x	as long as short
Kraken Futures PF_IMXUSDlong	+0.2017%	1h	0.1495	long leg	$114K	$10K	20x