Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0218%/8h= −23.9% APRpaid last 24h −0.149%

Price spread now: Deribit against HTX+0.154%7-day average — · you sell dearer than you buy

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

Long on HTX Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.154% dearer against HTX than usual: you sell high and buy low (spread +0.154% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ICP-USDT	2.9830	0.0100	pay 0.0100% / 8h	1h 43m	$106K	$219K	20x
Short	Deribit ICP_USDC-PERPETUAL	2.9876	−0.0118	pay 0.0015% / 1h	43m 46s	$266	$464	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now +0.154%Rate

Funding earned: −$45.78
Price spread: +0.154% → 0.000%: $15.42
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$49.36
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 38 min ago; Deribit: 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 HTX live order book, 38 min ago	20.12 bp	26.1 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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	−0.1242%	8h	2.9740	−0.302%	$1.7M	$777K	50x	as long as short
Variational Omni ICP	−0.0204%	8h	2.9852	+0.074%	$1.1M	$121K	—	as long as short
Injective ICP/USDC PERP	−0.0152%	1h	2.9665	−0.553%	$202	$200K	12x	as long as short
Deribit ICP_USDC-PERPETUALshort	−0.0118%	1h	2.9876	+0.154%	$266	$464	50x
Gate ICP_USDT	−0.0100%	8h	2.9860	+0.101%	$1.9M	$2.7M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9878	+0.161%	$70K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9885	+0.184%	$27K	—	150x	as long as short
Bybit ICPUSDT	+0.0068%	8h	2.9870	+0.134%	$17.3M	$17.7M	75x	as long as short
Lighter ICP	+0.0096%	1h	2.9918	+0.295%	$166K	$442K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9889	+0.197%	$185K	$1.4M	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ICP	+0.0100%	1h	2.9871	+0.137%	$135K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9900	+0.233%	$29.5M	$49.4M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9890	+0.201%	$5.9M	$15.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9890	+0.201%	$19.3M	$8.5M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9890	+0.201%	$5.1M	$13.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9900	+0.235%	$6.9M	$4.4M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9880	+0.168%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9858	+0.095%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9845	+0.051%	$571K	$469K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9870	+0.134%	$2K	$1.7M	20x	as long as short
HTX ICP-USDTlong	+0.0100%	8h	2.9830	long leg	$106K	$219K	20x
Extended ICP-USD	+0.0104%	1h	2.9882	+0.176%	$25K	$124K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9870	+0.134%	$1.2M	$2.3M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0224%	1h	2.9905	+0.252%	$490K	$513K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	2.9890	+0.201%	$63K	$90K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0504% / S −0.0480%	1h	2.9885	+0.184%	$37K	—	100x	as long as short
Hyperliquid ICP	+0.0605%	1h	2.9948	+0.396%	$4.7M	$5.0M	5x	as long as short