Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against KuCoin−0.392%7-day average −0.189% · you buy dearer than you sell

Net, funding: paid 7d − costs−$296as in the Funding arb table

Net, price: spread back to 7d avg − costs−$316as in the Price arb table

costs, in and out, $10k−$2962.956% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.346%+$35 · spread now −0.392%, 7d avg −0.189%

Together, before fees+0.346%+$35 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.204% cheaper against KuCoin than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.189%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IMXUSDTM	0.1505	0.0100	pay 0.0050% / 4h	2h 00m	$393K	$122K	50x
Short	Bybit IMXUSDT	0.1499	0.0100	get 0.0050% / 4h	2h 00m	$3.8M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.392%Rate

Funding earned: $0
Price spread: −0.392% → −0.189%: −$20.35
Slippage, 4 orders: −$272.55
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$315.9
Costs to cover: 2.956%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; Bybit: live order book, 2 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 KuCoin live order book, 11 min ago	33.22 bp	106.8 bp −$107	613.5 bp −$6,135	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	6.67 bp	25.7 bp −$26	87.2 bp −$872	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	0.1504	−0.063%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.664%	$559	$28K	5.5x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1506	+0.060%	$3.4M	$279K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1502	−0.211%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDTshort	+0.0100%	4h	0.1499	−0.392%	$3.8M	$2.2M	75x
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1502	−0.213%	$945K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1504	−0.066%	$649K	$142K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1503	−0.133%	$2.6M	$555K	125x	as long as short
KuCoin IMXUSDTMlong	+0.0100%	4h	0.1505	long leg	$393K	$122K	50x
Bitget IMXUSDT	+0.0100%	4h	0.1503	−0.133%	$1.3M	$415K	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	0.1501	−0.266%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1500	−0.303%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1502	−0.199%	$193K	$146K	75x	as long as short
dYdX IMX-USD	+0.1033%	1h	0.1506	+0.063%	$26K	$59	5x	as long as short
Kraken Futures PF_IMXUSD	+0.1084%	1h	0.1508	+0.217%	$114K	$22K	20x	as long as short