Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.2967%/8h= −324.9% APRpaid last 24h −0.375%

Price spread now: OKX against Kraken Futures−0.515%7-day average −0.286% · you buy dearer than you sell

Net, funding: paid 7d − costs−$538as in the Funding arb table

Net, price: spread back to 7d avg − costs−$295as in the Price arb table

costs, in and out, $10k−$2722.722% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−2.654%−$265 on $10k

Price spread, last 4 days (all we have)+0.288%+$29 · spread now −0.515%, 7d avg −0.286%

Together, before fees−2.366%−$237 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$89 a day on $10k at the current rate, and OKX is 0.229% cheaper against Kraken Futures than usual: you would sell low and buy high (−$23 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	0.1500	0.3067	pay 0.0383% / 1h	22m 46s	$114K	$10K	20x
Short	OKX IMX-USDT-SWAP	0.1493	0.0100	get 0.0050% / 4h	1h 22m	$937K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.515%Rate

Funding earned: −$623.1
Price spread: −0.515% → −0.286%: −$22.87
Slippage, 4 orders: −$252.24
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$918.21
Costs to cover: 2.722%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 19 min ago; OKX: 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, 19 min ago	63.89 bp	119.7 bp −$120	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	3.35 bp	38.7 bp −$39	doesn't fit	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	−0.0010%	4h	0.1491	−0.606%	$93K	$131K	—	as long as short
gTrade (Gains Network) IMX/USD	L +0.0001% / S +0.0004%	1h	0.1494	−0.445%	$2K	—	150x	as long as short
dYdX IMX-USD	+0.0001%	1h	0.1495	−0.373%	$26K	$4K	5x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.978%	$559	$28K	5.5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1495	−0.381%	$3.6M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1492	−0.555%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAPshort	+0.0100%	4h	0.1493	−0.515%	$937K	$1.5M	20x
Gate IMX_USDT	+0.0100%	4h	0.1493	−0.488%	$638K	$75K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1494	−0.422%	$2.4M	$604K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1494	−0.422%	$364K	$189K	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	−0.422%	$1.3M	$410K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1494	−0.422%	—	$2.8M	—	as long as short
Hyperliquid IMX	+0.0255%	1h	0.1498	−0.135%	$3.4M	$325K	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1494	−0.422%	$183K	$128K	75x	as long as short
Kraken Futures PF_IMXUSDlong	+0.3067%	1h	0.1500	long leg	$114K	$10K	20x