ICP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0046%/8h= −5.0% APRnext payment −$0.46 per $10,000 · paid last 24h −0.026%

Price spread now: Bybit against SunX−0.101%56s7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$187as 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−$1741.735% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.135%−$14 on $10k

Price spread, last 3 days (all we have)+0.118%+$12 · spread now −0.101%, 7d avg −0.004%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.097% cheaper against SunX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.004%). Swap the legs. The two prices were read 56 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	SunX ICP-USDT	2.9810	0.0100	pay 0.0100% / 8h	1h 54m	$2K	$1.7M	20x
Short	Bybit ICPUSDT	2.9780	0.0054	get 0.0054% / 8h	1h 54m	$17.2M	$17.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$9.58
Price spread: −0.101% → −0.004%: −$9.67
Slippage, 4 orders: −$154.5
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$192.76
Costs to cover: 1.735%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Bybit: live order book, 4 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 SunX live order book, 11 min ago	48.90 bp	74.0 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.68 bp	11.6 bp −$12	30.5 bp −$305	538.7 bp −$53.9K	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
Phemex ICPUSDT	−0.1255%	8h	2.9720	−0.302%	$1.7M	$779K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0287%	1h	2.9800	−0.034%	$266	$464	50x	as long as short
Variational Omni ICP	−0.0215%	8h	2.9802	−0.025%	$1.1M	$121K	—	as long as short
Injective ICP/USDC PERP	−0.0152%	1h	2.9665	−0.486%	$202	$200K	12x	as long as short
Gate ICP_USDT	−0.0103%	8h	2.9770	−0.134%	$1.9M	$2.7M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9827	+0.058%	$69K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9795	−0.050%	$27K	—	150x	as long as short
Bybit ICPUSDTshort	+0.0054%	8h	2.9780	−0.101%	$17.2M	$17.7M	75x
Lighter ICP	+0.0096%	1h	2.9836	+0.087%	$166K	$441K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9809	−0.003%	$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	2.9815	+0.017%	$135K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9781	−0.096%	$28.9M	$48.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9770	−0.134%	$5.8M	$15.7M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9790	−0.067%	$19.2M	$8.5M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9800	−0.034%	$5.0M	$13.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9810	0.000%	$6.8M	$4.4M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9790	−0.067%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9691	−0.399%	$23K	$276K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9779	−0.102%	$570K	$469K	10x	as long as short
SunX ICP-USDTlong	+0.0100%	8h	2.9810	long leg	$2K	$1.7M	20x
HTX ICP-USDT	+0.0100%	8h	2.9780	−0.101%	$106K	$218K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9798	−0.039%	$25K	$124K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9810	0.000%	$1.2M	$2.3M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0224%	1h	2.9839	+0.097%	$489K	$517K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	2.9890	+0.268%	$62K	$89K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0432% / S −0.0367%	1h	2.9784	−0.087%	$31K	—	100x	as long as short
Hyperliquid ICP	+0.0598%	1h	2.9833	+0.077%	$4.7M	$5.0M	5x	as long as short