Funding arb · Price arb /

IMX

all IMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.361%

Price spread now: Kraken Futures against MEXC+0.222%7-day average +0.280% · you sell dearer than you buy

Net, funding: paid 7d − costs+$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$209as in the Price arb table

costs, in and out, $10k−$2042.035% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.492%+$249 on $10k

Price spread, last 3 days (all we have)+0.097%+$10 · spread now +0.222%, 7d avg +0.280%

Together, before fees+2.588%+$259 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.058% cheaper against MEXC than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.280%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +2.492%, so the current rate has only just turned against you.

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 45m	$2.6M	$550K	125x
Short	Kraken Futures PF_IMXUSD	0.1504	0.0040	get 0.0005% / 1h	45m 14s	$114K	$22K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.222%Rate

Funding earned: −$12.6
Price spread: +0.222% → +0.280%: −$5.79
Slippage, 4 orders: −$189.5
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$221.89
Costs to cover: 2.035%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Kraken Futures: live order book, 37 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 MEXC live order book, 2 min ago	3.33 bp	5.3 bp −$5	26.1 bp −$261	180.6 bp −$18.1K	doesn't fit
Sell Kraken Futures live order book, 37 min ago	53.29 bp	69.6 bp −$70	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
gTrade (Gains Network) IMX/USD	L −0.0002% / S +0.0004%	1h	0.1501	−0.016%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.933%	$559	$28K	5.5x	as long as short
Kraken Futures PF_IMXUSDshort	+0.0040%	1h	0.1504	+0.222%	$114K	$22K	20x
Hyperliquid IMX	+0.0100%	1h	0.1504	+0.187%	$3.4M	$281K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1499	−0.140%	$3.7M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1499	−0.133%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1499	−0.133%	$942K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1499	−0.133%	$647K	$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	0.1502	+0.067%	$391K	$121K	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	0.1500	−0.067%	$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	0.1496	−0.309%	$94K	$131K	—	as long as short
BloFin IMX-USDT	+0.0340%	4h	0.1498	−0.200%	$192K	$146K	75x	as long as short
dYdX IMX-USD	+0.4654%	1h	0.1501	−0.011%	$26K	$59	5x	as long as short