Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.021%

Price spread now: Binance against dYdX−0.058%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.138%+$14 on $10k

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. Binance is 0.058% cheaper against dYdX than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 46 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ICP-USD	3.0368	0	get 0.0000% / 1h	55m 24s	$71K	$4K	5x
Short	Binance ICPUSDT	3.0350	0.0100	get 0.0100% / 8h	55m 24s	$29.9M	$50.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now −0.058%Rate

Funding earned: $21
Price spread: −0.058% → 0.000%: −$5.79
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$4.79
Costs to cover: 0.200%
Break-even: 8.6 days

Slippage unknown: dYdX: no order-book sample; Binance: live order book, 2 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 dYdX no order-book sample	—	—	—	—	—
Sell Binance live order book, 2 min ago	1.65 bp	10.0 bp −$10	23.7 bp −$237	171.7 bp −$17.2K	doesn't fit

dYdX: 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	−0.1537%	8h	3.0210	−0.519%	$1.8M	$767K	50x	as long as short
Variational Omni ICP	−0.0145%	8h	3.0011	−1.174%	$1.1M	$107K	—	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0079%	1h	3.0412	+0.146%	$271	$464	50x	as long as short
Gate ICP_USDT	−0.0036%	8h	3.0350	−0.058%	$2.0M	$2.8M	50x	as long as short
dYdX ICP-USDlong	0.0000%	1h	3.0368	long leg	$71K	$4K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	3.0400	+0.107%	$27K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−2.314%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	3.0379	+0.038%	$160K	$450K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	3.0370	+0.007%	$196K	$1.4M	20x	as long as short
Pacifica ICP	+0.0100%	1h	3.0364	−0.011%	$138K	$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 ICPUSDTshort	+0.0100%	8h	3.0350	−0.058%	$29.9M	$50.6M	75x
Bybit ICPUSDT	+0.0100%	8h	3.0330	−0.124%	$17.6M	$18.0M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	3.0340	−0.091%	$6.1M	$16.5M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	3.0340	−0.091%	$19.6M	$9.0M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	3.0350	−0.058%	$5.2M	$13.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	3.0360	−0.025%	$6.9M	$4.5M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	3.0340	−0.091%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	3.0237	−0.430%	$23K	$277K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	3.0279	−0.293%	$580K	$435K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	3.0390	+0.074%	$1K	$1.8M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	3.0390	+0.074%	$108K	$220K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	3.0337	−0.101%	$25K	$118K	10x	as long as short
Kraken Futures PF_ICPUSD	+0.0171%	1h	3.0430	+0.204%	$494K	$530K	50x	as long as short
Hyperliquid ICP	+0.0201%	1h	3.0391	+0.077%	$4.8M	$5.0M	5x	as long as short
BloFin ICP-USDT	+0.0220%	8h	3.0290	−0.255%	$1.2M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	3.0310	−0.190%	$63K	$90K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0509% / S −0.0480%	1h	3.0396	+0.094%	$38K	—	100x	as long as short