◈ IMREK FUNDING SCANNER
DEX Perps Arb · v0.1

User Guide

How to use Imrek Funding Scanner — feature overview

What is Funding Arbitrage?

On perpetual swaps, traders pay or receive a funding rate — a periodic payment that keeps the contract price anchored to the spot price.

When the rate is positive on one exchange (longs pay shorts) and negative on another (shorts pay longs) — or the rates simply differ significantly — you can go long on one exchange and short on another. This way you collect the funding rate difference while staying delta-neutral (market risk is hedged).

Imrek Funding Scanner automatically scans exchanges, finds these discrepancies, and shows potential returns accounting for fees.

Opportunities Page

The main table with all discovered arbitrage opportunities. Data updates automatically every 5 minutes. When fresh data arrives, a refresh button lights up in the header.

Table columns

  • Ticker — trading pair (e.g. XPL).
  • Long — exchange where you open a long. Shows: current funding rate (red = you pay), trading volume (v) and open interest (oi).
  • Short — exchange for the short side. Same metrics. Green rate = you receive.
  • Backtest — three buttons for quick backtesting (details below).
  • APR — Annual Percentage Rate from the rate difference between exchanges.
  • Cost % — total entry and exit costs as a percentage (exchange fees). Click the value for a detailed breakdown.
  • Fees — exchange fees (maker/taker). Click for per-side details.
  • Spread — current spread on exchanges. Lower is better for entry/exit.
  • Daily PNL — estimated daily profit for the given position size (adjustable via the Position slider).
  • Time Alive — how long this opportunity has continuously existed (e.g. "1h 41m").

What is "stl" under the rate?

stl (settled) — the last actually paid funding rate. The main value is the predicted rate, which updates every second. On high-liquidity exchanges they nearly match, but on less liquid ones (e.g. HyENA) they can diverge significantly. Settled rate is a more reliable reference.

Filters

  • Root Venue — select the root exchange. The table will only show pairs where this exchange participates as Long or Short. Its name will be marked with ROOT.
  • Min Volume — minimum 24h trading volume (USD). Filters out illiquid pairs.
  • Min OI — minimum open interest (USD).
  • Min Alive — minimum opportunity lifetime. Helps filter out short-lived spikes.
  • Max Spread — maximum spread. Filters pairs with wide spreads where entry/exit would be expensive.
  • Position — position size in USD for Daily PNL calculation.

Sorting

Click any column header to sort the table. Click again to reverse the direction (ascending / descending). By default the table is sorted by APR (best opportunities on top).

Backtest buttons

Each row has three backtest buttons:

  • ▶ — opens our built-in backtest (Backtest page) with pre-filled parameters. Uses local history from our database. The button is inactive (grey) if less than 7 days of data has been collected.
  • FV — opens a backtest on the external service FundingView (fundingview.app) with current pair parameters.
  • LR — opens a backtest on the external service Loris (loris.tools) with current pair parameters.

Backtest

Lets you check how a funding arbitrage strategy would have performed on historical data.

Parameters

  • Symbol — trading pair (BTC-USD, ETH-USDT, etc.).
  • Long / Short Exchange — exchanges for long and short sides.
  • Position Size ($) — position size.
  • Period — simulation period: from 1 day to 3 months.

Results

  • Total P&L — total profit/loss for the selected period.
  • Final Value — final portfolio value.
  • Average APR — average annual return over the period.
  • Max Drawdown — maximum drawdown.

Hover over any point on the equity curve chart — the stat cards above will show P&L values at that moment.

Supported Exchanges

The scanner collects data from 18 DEX and CEX perpetual futures exchanges. Data updates every 5 minutes.

  • Hyperliquid
  • dYdX
  • Paradex
  • EdgeX
  • HyENA
  • Backpack
  • Lighter
  • Ethereal
  • Aster
  • GRVT
  • Vest
  • gTrade
  • Pacifica
  • Hibachi
  • Nado
  • Variational
  • Extended

The list is constantly expanding. Each exchange has its own funding rate payment interval (1h or 8h), which is automatically accounted for in APR calculations.

Tips

  • High APR on a pair with low volume and OI is risky. Use the Min Volume and Min OI filters.
  • The Alive filter helps find stable opportunities: if a pair holds for over a day, it's more reliable than a 30-minute spike.
  • Before entering a position, check the strategy via Backtest — it will show real historical returns and drawdowns.
  • For settled rate (stl) — use it as a reference if the predicted rate jumps around. It's what was actually paid out.

Risks & Disclaimers

  • Funding rates can change at any time. Historical returns do not guarantee future performance.
  • Liquidation: with high leverage and sharp price moves, a position can be liquidated on one exchange even if you are delta-neutral.
  • Counterparty risk: funds on DEX exchanges are subject to smart contract risks and hacks.
  • Slippage: actual entry/exit may differ from estimates, especially on low-liquidity pairs.
  • This tool is for analysis purposes only and is not financial advice.