ICP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0120%/8h= −13.1% APRnext payment −$1.20 per $10,000 · paid last 24h −0.046%

Price spread now: Bybit against BloFin−0.437%62s7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.482% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.293%−$29 on $10k

Price spread, last 4 days (all we have)+0.472%+$47 · spread now −0.437%, 7d avg −0.026%

Together, before fees+0.179%+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.411% cheaper against BloFin than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of −0.026%). Swap the legs. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ICP-USDT	2.9750	0.0220	pay 0.0220% / 8h	4h 28m	$1.3M	$2.2M	75x
Short	Bybit ICPUSDT	2.9620	0.0100	get 0.0100% / 8h	4h 28m	$17.2M	$18.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.437%Rate

Funding earned: −$25.2
Price spread: −0.437% → −0.026%: −$41.11
Slippage, 4 orders: −$25.23
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$114.54
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Bybit: live order book, just now.

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 BloFin live order book, 5 min ago	1.68 bp	10.2 bp −$10	17.5 bp −$175	119.2 bp −$11.9K	doesn't fit
Sell Bybit live order book, just now	1.69 bp	12.1 bp −$12	34.7 bp −$347	doesn't fit	doesn't fit

ICP on 27 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
Deribit ICP_USDC-PERPETUAL	−0.0121%	1h	2.9631	−0.400%	$264	$464	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9689	−0.205%	$69K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9653	−0.327%	$22K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−0.286%	$202	$200K	12x	as long as short
Phemex ICPUSDT	+0.0086%	8h	2.9610	−0.471%	$1.8M	$791K	50x	as long as short
Variational Omni ICP	+0.0091%	8h	2.9705	−0.152%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9664	−0.289%	$157K	$487K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9695	−0.186%	$271K	$1.6M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9668	−0.276%	$134K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9630	−0.403%	$29.1M	$50.9M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ICPUSDTshort	+0.0100%	8h	2.9620	−0.437%	$17.2M	$18.3M	75x
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9630	−0.403%	$5.7M	$16.3M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9640	−0.370%	$1.9M	$3.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9640	−0.370%	$19.8M	$10.2M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9630	−0.403%	$4.8M	$12.7M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9650	−0.336%	$7.0M	$4.7M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9650	−0.336%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9719	−0.104%	$23K	$281K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9714	−0.123%	$566K	$467K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9650	−0.336%	$2K	$1.6M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9600	−0.504%	$104K	$156K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9639	−0.373%	$23K	$130K	10x	as long as short
Hyperliquid ICP	+0.0200%	1h	2.9675	−0.252%	$4.6M	$4.9M	5x	as long as short
BloFin ICP-USDTlong	+0.0220%	8h	2.9750	long leg	$1.3M	$2.2M	75x
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9820	+0.235%	$67K	$61K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0535% / S −0.0528%	1h	2.9656	−0.317%	$39K	—	100x	as long as short
Kraken Futures PF_ICPUSD	+0.0569%	1h	2.9664	−0.290%	$521K	$605K	50x	as long as short