Funding arb · Price arb /

IMX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.366%

Price spread now: Kraken Futures against Variational Omni+0.388%7-day average +0.398% · you sell dearer than you buy

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+2.422%+$242 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now +0.388%, 7d avg +0.398%

Together, before fees+2.430%+ Points / potential airdropVariational Omni: Active · farm board+$243 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.398%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +2.422%, 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	Variational Omni IMX	0.1495	0.0100	pay 0.0050% / 4h	1h 16m	$94K	$131K	—
Short	Kraken Futures PF_IMXUSD	0.1501	0.0040	get 0.0005% / 1h	16m 55s	$114K	$22K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.388%Rate

Funding earned: −$12.58
Price spread: +0.388% → +0.398%: −$0.98
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$23.57
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Kraken Futures: live order book, 65 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, 2 min ago	10.03 bp	doesn't fit	83.6 bp −$836	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 65 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	0.1497	+0.095%	$6K	—	150x	as long as short
Injective IMX/USDC PERP	+0.0033%	1h	0.1515	+1.317%	$559	$28K	5.5x	as long as short
Kraken Futures PF_IMXUSDshort	+0.0040%	1h	0.1501	+0.388%	$114K	$22K	20x
Hyperliquid IMX	+0.0100%	1h	0.1501	+0.374%	$3.4M	$289K	5x	as long as short
Binance IMXUSDT	+0.0100%	4h	0.1495	−0.021%	$3.6M	$5.9M	75x	as long as short
Bybit IMXUSDT	+0.0100%	4h	0.1494	−0.101%	$3.8M	$2.2M	75x	as long as short
OKX IMX-USDT-SWAP	+0.0100%	4h	0.1495	−0.034%	$938K	$1.7M	20x	as long as short
Gate IMX_USDT	+0.0100%	4h	0.1495	−0.021%	$645K	$141K	50x	as long as short
MEXC IMX_USDT	+0.0100%	4h	0.1494	−0.088%	$2.8M	$578K	125x	as long as short
KuCoin IMXUSDTM	+0.0100%	4h	0.1496	+0.046%	$396K	$124K	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	0.1497	+0.113%	$1.3M	$417K	75x	as long as short
BingX IMX-USDT	+0.0100%	4h	0.1496	+0.046%	—	$2.9M	—	as long as short
Variational Omni IMXlong	+0.0100%	4h	0.1495	long leg	$94K	$131K	—
BloFin IMX-USDT	+0.0340%	4h	0.1497	+0.113%	$190K	$147K	75x	as long as short
dYdX IMX-USD	+0.2492%	1h	0.1499	+0.234%	$26K	$59	5x	as long as short