Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.040%

Price spread now: Injective against MEXC+0.731%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Injective is 0.731% dearer against MEXC than usual: you sell high and buy low (spread +0.731% now, against zero (this spread has no 7-day history yet)): +$73 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 37 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC IMX_USDT	0.1504	0.0100	pay 0.0050% / 4h	22m 52s	$2.8M	$569K	125x
Short	Injective IMX/USDC PERP	0.1515	0.0033	get 0.0004% / 1h	22m 52s	$559	$28K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.731%Rate

Funding earned: −$14
Price spread: +0.731% → 0.000%: $73.14
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $55.12
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 4 min ago; Injective: 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, 4 min ago	3.32 bp	12.8 bp −$13	34.4 bp −$344	207.5 bp −$20.8K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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/USD	L −0.0002% / S +0.0004%	1h	0.1506	+0.114%	$6K	—	150x	as long as short
Injective IMX/USDC PERPshort	+0.0033%	1h	0.1515	+0.731%	$559	$28K	5.5x
Hyperliquid IMX	+0.0100%	1h	0.1510	+0.379%	$3.5M	$290K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1504	−0.018%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1503	−0.066%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1504	+0.013%	$952K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1503	−0.066%	$649K	$141K	50x	as long as short
MEXC IMX_USDTlong	+0.0100%	4h	0.1504	long leg	$2.8M	$569K	125x
KuCoin IMXUSDTM	+0.0100%	4h	0.1504	0.000%	$395K	$128K	50x	as long as short
Bitget IMXUSDT	+0.0100%	4h	0.1506	+0.133%	$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	0.1505	+0.066%	—	$2.9M	—	as long as short
Variational Omni IMX	+0.0100%	4h	0.1505	+0.088%	$94K	$131K	—	as long as short
dYdX IMX-USD	+0.0214%	1h	0.1506	+0.126%	$26K	$72	5x	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1505	+0.066%	$191K	$142K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1341%	1h	0.1507	+0.202%	$114K	$11K	20x	as long as short