Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.030%

Price spread now: Coinbase International against edgeX−0.122%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.310%+$31 on $10k

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

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. Coinbase International is 0.122% cheaper against edgeX than usual: you would sell low and buy high (spread −0.122% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 42 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ICPUSDC	2.9176	0.0100	pay 0.0050% / 4h	2h 38m	$23K	$278K	10x
Short	Coinbase International ICP-PERP-INTX	2.9140	0.0336	get 0.0042% / 1h	38m 50s	$57K	$69K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.122%Rate

Funding earned: $49.56
Price spread: −0.122% → 0.000%: −$12.24
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $18.32
Costs to cover: 0.190%
Break-even: 4.4 days

Slippage unknown: edgeX: live order book, 9 min ago; Coinbase International: no order-book sample. 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 edgeX live order book, 9 min ago	6.84 bp	11.3 bp −$11	26.7 bp −$267	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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
Deribit ICP_USDC-PERPETUAL	−0.0403%	1h	2.9084	−0.314%	$189	$439	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0069%	1h	2.9091	−0.289%	$483K	$645K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9098	−0.268%	$68K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9084	−0.316%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+1.677%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0062%	8h	2.9110	−0.224%	$1.0M	$133K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9100	−0.260%	$140K	$493K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9132	−0.150%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9123	−0.181%	$260K	$1.3M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9088	−0.299%	$132K	$10K	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	2.9108	−0.231%	$28.4M	$48.6M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9090	−0.294%	$17.0M	$17.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9100	−0.260%	$5.6M	$14.8M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9090	−0.294%	$1.8M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9110	−0.225%	$17.9M	$9.9M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9100	−0.260%	$4.8M	$12.3M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9110	−0.225%	$6.9M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9090	−0.294%	—	$5.8M	—	as long as short
edgeX ICPUSDClong	+0.0100%	4h	2.9176	long leg	$23K	$278K	10x
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9126	−0.172%	$554K	$489K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9070	−0.362%	$1K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9090	−0.294%	$102K	$117K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9090	−0.294%	$1.7M	$737K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9102	−0.253%	$23K	$134K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9090	−0.294%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTXshort	+0.0336%	1h	2.9140	−0.122%	$57K	$69K	50x
GMX ICP/USD [WBTC.b-USDC]	L +0.0431% / S −0.0367%	1h	2.9090	−0.293%	$30K	—	100x	as long as short