Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0285%/8h= +31.2% APRpaid last 24h +0.150%

Price spread now: HTX against Deribit−0.361%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. HTX is 0.361% cheaper against Deribit than usual: you would sell low and buy high (spread −0.361% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$36 on $10k: about 4.2 days of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ICP_USDC-PERPETUAL	2.9878	−0.0185	get 0.0023% / 1h	21m 00s	$266	$464	50x
Short	HTX ICP-USDT	2.9770	0.0100	get 0.0100% / 8h	2h 21m	$106K	$219K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now −0.361%Rate

Funding earned: $59.85
Price spread: −0.361% → 0.000%: −$36.15
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: $4.7
Costs to cover: 0.190%
Break-even: 6.4 days

Slippage unknown: Deribit: no order-book sample; HTX: 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 Deribit no order-book sample	—	—	—	—	—
Sell HTX live order book, 65 min ago	18.52 bp	82.1 bp −$82	doesn't fit	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Phemex ICPUSDT	−0.1415%	8h	2.9680	−0.663%	$1.7M	$779K	50x	as long as short
Variational Omni ICP	−0.0245%	8h	2.9864	−0.047%	$1.1M	$119K	—	as long as short
Injective ICP/USDC PERP	−0.0199%	1h	2.9665	−0.713%	$202	$200K	12x	as long as short
Deribit ICP_USDC-PERPETUALlong	−0.0185%	1h	2.9878	long leg	$266	$464	50x
Gate ICP_USDT	−0.0091%	8h	2.9850	−0.094%	$1.9M	$2.7M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9889	+0.036%	$70K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9887	+0.029%	$27K	—	150x	as long as short
Bybit ICPUSDT	+0.0016%	8h	2.9860	−0.060%	$17.2M	$17.6M	75x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9882	+0.012%	$188K	$1.5M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9883	+0.016%	$135K	$11K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ICPUSDT	+0.0100%	8h	2.9867	−0.036%	$29.1M	$48.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9850	−0.094%	$5.8M	$15.7M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9870	−0.027%	$19.2M	$8.6M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9880	+0.007%	$5.3M	$12.8M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9890	+0.040%	$6.8M	$4.5M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9870	−0.027%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9874	−0.013%	$23K	$277K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9871	−0.022%	$572K	$481K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9880	+0.007%	$1K	$1.7M	20x	as long as short
HTX ICP-USDTshort	+0.0100%	8h	2.9770	−0.361%	$106K	$219K	20x
Extended ICP-USD	+0.0104%	1h	2.9863	−0.051%	$24K	$123K	10x	as long as short
Lighter ICP	+0.0144%	1h	2.9902	+0.080%	$167K	$442K	5x	as long as short
Kraken Futures PF_ICPUSD	+0.0148%	1h	2.9902	+0.080%	$490K	$518K	50x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9860	−0.060%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0232%	1h	2.9890	+0.040%	$62K	$89K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0533% / S −0.0529%	1h	2.9877	−0.005%	$40K	—	100x	as long as short
Hyperliquid ICP	+0.0873%	1h	2.9929	+0.171%	$4.7M	$5.0M	5x	as long as short