Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX+0.175%7-day average — · you sell dearer than you buy

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

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

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. dYdX is 0.175% dearer against SunX than usual: you sell high and buy low (spread +0.175% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ICP-USDT	3.0340	0.0100	pay 0.0100% / 8h	54m 41s	$1K	$1.8M	20x
Short	dYdX ICP-USD	3.0393	0	get 0.0000% / 1h	54m 41s	$71K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.175%Rate

Funding earned: −$21
Price spread: +0.175% → 0.000%: $17.53
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$21.47
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 11 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 SunX live order book, 11 min ago	48.31 bp	73.1 bp −$73	doesn't fit	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	−0.1544%	8h	3.0190	−0.494%	$1.8M	$767K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0211%	1h	3.0356	+0.053%	$271	$464	50x	as long as short
Variational Omni ICP	−0.0141%	8h	3.0311	−0.096%	$1.1M	$107K	—	as long as short
Gate ICP_USDT	−0.0036%	8h	3.0390	+0.165%	$2.0M	$2.8M	50x	as long as short
dYdX ICP-USDshort	0.0000%	1h	3.0393	+0.175%	$71K	$4K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	3.0365	+0.082%	$27K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−2.225%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	3.0398	+0.191%	$161K	$450K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	3.0410	+0.230%	$196K	$1.4M	20x	as long as short
Pacifica ICP	+0.0100%	1h	3.0364	+0.080%	$138K	$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	3.0369	+0.096%	$29.9M	$50.6M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	3.0350	+0.033%	$17.7M	$18.0M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	3.0360	+0.066%	$6.2M	$16.5M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	3.0390	+0.165%	$19.6M	$9.1M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	3.0390	+0.165%	$5.2M	$13.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	3.0390	+0.165%	$6.9M	$4.5M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	3.0400	+0.198%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	3.0237	−0.339%	$23K	$277K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	3.0279	−0.202%	$580K	$435K	10x	as long as short
SunX ICP-USDTlong	+0.0100%	8h	3.0340	long leg	$1K	$1.8M	20x
HTX ICP-USDT	+0.0100%	8h	3.0340	0.000%	$108K	$220K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	3.0374	+0.112%	$25K	$118K	10x	as long as short
Kraken Futures PF_ICPUSD	+0.0171%	1h	3.0383	+0.141%	$493K	$530K	50x	as long as short
Hyperliquid ICP	+0.0188%	1h	3.0439	+0.326%	$4.8M	$5.0M	5x	as long as short
BloFin ICP-USDT	+0.0220%	8h	3.0370	+0.099%	$1.2M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	3.0430	+0.297%	$64K	$90K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0509% / S −0.0480%	1h	3.0360	+0.066%	$38K	—	100x	as long as short