Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1238%/8h= −135.6% APRpaid last 24h −0.358%

Price spread now: Variational Omni against Kraken Futures−0.355%7-day average −0.402% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−2.422%−$242 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now −0.355%, 7d avg −0.402%

Together, before fees−2.439%+ Points / potential airdropVariational Omni: Active · farm board−$244 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.047% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.355% now, against its 7-day average of −0.402%): +$5 on $10k if it goes back. Holding the pair costs −$37 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IMXUSD	0.1511	0.1338	pay 0.0167% / 1h	21m 40s	$115K	$11K	20x
Short	Variational Omni IMX	0.1505	0.0100	get 0.0050% / 4h	21m 40s	$94K	$131K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.355%Rate

Funding earned: −$259.99
Price spread: −0.355% → −0.402%: $4.72
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$265.28
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 55 min ago; Variational Omni: RFQ quote, 57 min ago. Net counts fees only.

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, 55 min ago	41.73 bp	134.5 bp −$135	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 57 min ago	10.03 bp	doesn't fit	90.3 bp −$903	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	0.1507	−0.259%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.285%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1511	+0.007%	$3.5M	$290K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1506	−0.342%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1504	−0.443%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1505	−0.350%	$953K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1504	−0.443%	$649K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1506	−0.311%	$2.8M	$569K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1505	−0.377%	$395K	$129K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1507	−0.245%	$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	0.1503	−0.509%	—	$2.9M	—	as long as short
Variational Omni IMXshort	+0.0100%	4h	0.1505	−0.355%	$94K	$131K	—
dYdX IMX-USD	+0.0202%	1h	0.1506	−0.317%	$26K	$72	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1505	−0.377%	$191K	$142K	75x	as long as short
Kraken Futures PF_IMXUSDlong	+0.1338%	1h	0.1511	long leg	$115K	$11K	20x