Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: gTrade (Gains Network) against MEXC−0.083%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.083% cheaper against MEXC than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC IMX_USDT	0.1501	0.0100	pay 0.0050% / 4h	1h 47m	$2.6M	$550K	125x
Short	gTrade (Gains Network) IMX/USD	0.1500	L −0.0002% / S +0.0004%	pay 0.0001% / 1h	47m 20s	$6K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.083%Rate

Funding earned: −$21.9
Price spread: −0.083% → 0.000%: −$8.26
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$44.16
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; gTrade (Gains Network): no order-book sample. 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 MEXC live order book, 5 min ago	3.33 bp	5.3 bp −$5	22.0 bp −$220	177.1 bp −$17.7K	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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/USDshort	L −0.0002% / S +0.0004%	1h	0.1500	−0.083%	$6K	—	150x
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.933%	$559	$28K	5.5x	as long as short
Kraken Futures PF_IMXUSD	+0.0040%	1h	0.1505	+0.253%	$114K	$22K	20x	as long as short
Hyperliquid IMX	+0.0100%	1h	0.1503	+0.107%	$3.4M	$281K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1498	−0.184%	$3.6M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1497	−0.280%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1498	−0.213%	$943K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1498	−0.200%	$646K	$140K	50x	as long as short
MEXC IMX_USDTlong	+0.0100%	4h	0.1501	long leg	$2.6M	$550K	125x
KuCoin IMXUSDTM	+0.0100%	4h	0.1501	0.000%	$391K	$122K	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	0.1499	−0.133%	$1.3M	$415K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1498	−0.200%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1498	−0.208%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1499	−0.133%	$192K	$147K	75x	as long as short
dYdX IMX-USD	+0.4301%	1h	0.1499	−0.133%	$26K	$59	5x	as long as short