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 +0.012%

Price spread now: GRVT against OKX−0.354%81s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.616% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.110%+$11 on $10k

Price spread, last 4 days (all we have)+0.608%+$61 · spread now −0.354%, 7d avg −0.012%

Together, before fees+0.718%+ Points / potential airdropGRVT: Active · farm board+$72 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: GRVT is 0.342% cheaper against OKX than usual: you would sell low and buy high, −$34 on $10k if it goes back to its 7-day average of −0.012%. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ICP-USDT-SWAP	2.9270	0.0100	pay 0.0100% / 8h	2h 22m	$5.6M	$14.8M	50x
Short	GRVT ICP_USDT_Perp	2.9166	0.0100	get 0.0100% / 8h	2h 22m	$553K	$495K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against OKX. 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 OKXbpFee GRVTbpOrdersPrice spread, now −0.354%Rate

Funding earned: $0
Price spread: −0.354% → −0.012%: −$34.23
Slippage, 4 orders: −$42.56
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$95.78
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; GRVT: live order book, 26 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 OKX live order book, 1 min ago	1.71 bp	12.6 bp −$13	33.6 bp −$336	doesn't fit	doesn't fit
Sell GRVT live order book, 26 min ago	3.42 bp	16.2 bp −$16	56.9 bp −$569	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
Deribit ICP_USDC-PERPETUAL	−0.0126%	1h	2.9263	−0.024%	$190	$439	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0068%	1h	2.9279	+0.029%	$483K	$643K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9186	−0.288%	$68K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9233	−0.128%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+1.350%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0050%	8h	2.9050	−0.751%	$1.0M	$133K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9271	+0.003%	$141K	$494K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9274	+0.014%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9265	−0.017%	$262K	$1.3M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9194	−0.258%	$132K	$9K	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	2.9270	−0.001%	$28.7M	$48.8M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9250	−0.068%	$17.1M	$17.9M	75x	as long as short
OKX ICP-USDT-SWAPlong	+0.0100%	8h	2.9270	long leg	$5.6M	$14.8M	50x
Gate ICP_USDT	+0.0100%	8h	2.9230	−0.137%	$1.8M	$2.9M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9260	−0.034%	$18.0M	$10.0M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9260	−0.034%	$4.8M	$12.3M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9270	0.000%	$6.9M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9230	−0.137%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9072	−0.677%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perpshort	+0.0100%	8h	2.9166	−0.354%	$553K	$495K	10x
SunX ICP-USDT	+0.0100%	8h	2.9210	−0.205%	$1K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9220	−0.171%	$102K	$118K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9250	−0.068%	$1.7M	$668K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9230	−0.135%	$23K	$133K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9160	−0.376%	$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	2.9238	−0.109%	$30K	—	100x	as long as short