Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.010%

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

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

Long on GRVT Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.172%−$17 on $10k

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

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

The price spread pays, funding is against you. dYdX is 0.058% dearer against GRVT than usual: you sell high and buy low (spread +0.058% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ICP_USDT_Perp	2.9941	0.0100	pay 0.0100% / 8h	1h 10m	$573K	$435K	10x
Short	dYdX ICP-USD	2.9958	0	get 0.0000% / 1h	10m 44s	$70K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against GRVT. 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 GRVTbpFee dYdXbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$21
Price spread: +0.058% → 0.000%: $5.83
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$34.17
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 7 min ago; dYdX: 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 GRVT live order book, 7 min ago	3.33 bp	17.7 bp −$18	32.3 bp −$323	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

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	−0.1474%	8h	2.9800	−0.470%	$1.7M	$771K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0184%	1h	2.9961	+0.068%	$267	$464	50x	as long as short
Variational Omni ICP	−0.0159%	8h	2.9981	+0.136%	$1.1M	$107K	—	as long as short
Injective ICP/USDC PERP	−0.0152%	1h	2.9665	−0.921%	$202	$200K	12x	as long as short
Gate ICP_USDT	−0.0047%	8h	2.9950	+0.031%	$1.9M	$2.8M	50x	as long as short
dYdX ICP-USDshort	0.0000%	1h	2.9958	+0.058%	$70K	$4K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9974	+0.113%	$27K	—	150x	as long as short
Lighter ICP	+0.0096%	1h	2.9994	+0.178%	$165K	$446K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9968	+0.093%	$209K	$1.4M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9971	+0.100%	$136K	$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	2.9960	+0.065%	$29.6M	$50.4M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9950	+0.031%	$17.4M	$17.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9950	+0.031%	$5.9M	$16.1M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9960	+0.065%	$19.6M	$8.9M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9960	+0.065%	$5.1M	$13.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9960	+0.065%	$6.8M	$4.5M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9950	+0.031%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9940	−0.001%	$23K	$277K	10x	as long as short
GRVT ICP_USDT_Perplong	+0.0100%	8h	2.9941	long leg	$573K	$435K	10x
SunX ICP-USDT	+0.0100%	8h	2.9950	+0.031%	$2K	$1.8M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9930	−0.035%	$106K	$220K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9954	+0.045%	$25K	$118K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9960	+0.065%	$1.2M	$2.3M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0223%	1h	2.9971	+0.100%	$486K	$528K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	3.0030	+0.299%	$63K	$91K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0505% / S −0.0480%	1h	2.9967	+0.089%	$37K	—	100x	as long as short
Hyperliquid ICP	+0.0674%	1h	3.0026	+0.285%	$4.8M	$5.0M	5x	as long as short