Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Hyperliquid against Variational Omni+0.259%7-day average +0.378% · you sell dearer than you buy

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.032%+$3 on $10k

Price spread, last 3 days (all we have)−0.103%−$10 · spread now +0.259%, 7d avg +0.378%

Together, before fees−0.071%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board−$7 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: Hyperliquid is 0.118% cheaper against Variational Omni than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.378%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IMX	0.1500	0.0100	pay 0.0050% / 4h	2h 36m	$94K	$132K	—
Short	Hyperliquid IMX	0.1504	0.0100	get 0.0013% / 1h	36m 43s	$3.4M	$288K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. 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 Variational OmnibpFee HyperliquidbpOrdersPrice spread, now +0.259%Rate

Funding earned: $0
Price spread: +0.259% → +0.378%: −$11.84
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$20.84
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 52 min ago; Hyperliquid: live order book, 5 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 Variational Omni RFQ quote, 52 min ago	13.28 bp	doesn't fit	86.3 bp −$863	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	3.32 bp	26.7 bp −$27	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	0.1503	+0.179%	$6K	—	150x	as long as short
dYdX IMX-USD	+0.0004%	1h	0.1502	+0.129%	$26K	$59	5x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+0.999%	$559	$28K	5.5x	as long as short
Hyperliquid IMXshort	+0.0100%	1h	0.1504	+0.259%	$3.4M	$288K	5x
Binance IMXUSDT	+0.0100%	4h	0.1499	−0.038%	$3.7M	$6.0M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1500	0.000%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1499	−0.040%	$945K	$1.6M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1500	0.000%	$648K	$142K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1499	−0.067%	$2.6M	$546K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1503	+0.199%	$387K	$120K	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	0.1502	+0.133%	$1.3M	$415K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1501	+0.066%	—	$2.6M	—	as long as short
Variational Omni IMXlong	+0.0100%	4h	0.1500	long leg	$94K	$132K	—
BloFin IMX-USDT	+0.0340%	4h	0.1498	−0.134%	$192K	$136K	75x	as long as short
Kraken Futures PF_IMXUSD	+0.1088%	1h	0.1503	+0.209%	$114K	$22K	20x	as long as short