Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: HTX against MEXC−0.171%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$890.887% of the position

Long on MEXC Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.171%, 7d avg −0.057%

Together, before fees+0.076%+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.114% cheaper against MEXC than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ICP_USDT	2.9250	0.0100	pay 0.0100% / 8h	2h 35m	$18.0M	$9.9M	50x
Short	HTX ICP-USDT	2.9200	0.0100	get 0.0100% / 8h	2h 35m	$102K	$117K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against MEXC. 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 MEXCbpFee HTXbpOrdersPrice spread, now −0.171%Rate

Funding earned: $0
Price spread: −0.171% → −0.057%: −$11.35
Slippage, 4 orders: −$76.67
Fee MEXC: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$100.02
Costs to cover: 0.887%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; HTX: live order book, 11 min ago.

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 MEXC live order book, 4 min ago	1.72 bp	1.7 bp −$2	8.9 bp −$89	65.2 bp −$6,524	144.4 bp −$72.2K
Sell HTX live order book, 11 min ago	15.42 bp	60.1 bp −$60	doesn't fit	doesn't fit	doesn't fit

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
Kraken Futures PF_ICPUSD	−0.0068%	1h	2.9260	+0.035%	$485K	$646K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0058%	1h	2.9254	+0.014%	$190	$439	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9243	−0.025%	$68K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9243	−0.023%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+1.419%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0062%	8h	2.9140	−0.374%	$1.0M	$133K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9267	+0.058%	$141K	$493K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9260	+0.034%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9232	−0.063%	$261K	$1.3M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9251	+0.004%	$133K	$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	2.9216	−0.116%	$28.6M	$48.7M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9200	−0.171%	$17.1M	$17.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9160	−0.308%	$5.6M	$14.8M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9230	−0.068%	$1.8M	$2.8M	50x	as long as short
MEXC ICP_USDTlong	+0.0100%	8h	2.9250	long leg	$18.0M	$9.9M	50x
KuCoin ICPUSDTM	+0.0100%	8h	2.9260	+0.034%	$4.8M	$12.3M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9250	0.000%	$6.9M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9230	−0.068%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9138	−0.382%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9162	−0.301%	$561K	$499K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9250	0.000%	$2K	$1.5M	20x	as long as short
HTX ICP-USDTshort	+0.0100%	8h	2.9200	−0.171%	$102K	$117K	20x
Phemex ICPUSDT	+0.0100%	8h	2.9250	0.000%	$1.7M	$730K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9252	+0.008%	$23K	$134K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9180	−0.239%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0336%	1h	2.9260	+0.034%	$57K	$69K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0432% / S −0.0367%	1h	2.9246	−0.013%	$30K	—	100x	as long as short