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: MEXC against SunX0.000%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1441.437% of the position

Long on SunX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now 0.000%, 7d avg +0.027%

Together, before fees−0.044%−$4 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: MEXC is 0.027% cheaper against SunX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ICP-USDT	2.9330	0.0100	pay 0.0100% / 8h	2h 19m	$2K	$1.5M	20x
Short	MEXC ICP_USDT	2.9330	0.0100	get 0.0100% / 8h	2h 19m	$18.1M	$10.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.027%: −$2.74
Slippage, 4 orders: −$135.71
Fee SunX: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$146.44
Costs to cover: 1.437%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; MEXC: 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, 5 min ago	46.27 bp	67.0 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	3.43 bp	5.5 bp −$6	14.4 bp −$144	67.1 bp −$6,710	139.8 bp −$69.9K

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	2.9345	+0.052%	$520K	$687K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0023%	1h	2.9337	+0.024%	$191	$439	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9345	+0.050%	$68K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9340	+0.034%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+1.142%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0053%	8h	2.9230	−0.341%	$1.0M	$133K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9360	+0.102%	$141K	$494K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9385	+0.188%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9356	+0.089%	$262K	$1.3M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9343	+0.045%	$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	2.9340	+0.034%	$28.7M	$48.8M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9310	−0.068%	$17.1M	$17.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9310	−0.068%	$5.6M	$14.9M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9320	−0.034%	$1.8M	$2.9M	50x	as long as short
MEXC ICP_USDTshort	+0.0100%	8h	2.9330	0.000%	$18.1M	$10.0M	50x
KuCoin ICPUSDTM	+0.0100%	8h	2.9340	+0.034%	$4.8M	$12.2M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9340	+0.034%	$6.9M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9320	−0.034%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9147	−0.624%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9142	−0.639%	$553K	$495K	10x	as long as short
SunX ICP-USDTlong	+0.0100%	8h	2.9330	long leg	$2K	$1.5M	20x
HTX ICP-USDT	+0.0100%	8h	2.9290	−0.136%	$102K	$118K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9320	−0.034%	$1.7M	$667K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9332	+0.005%	$23K	$131K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9300	−0.102%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0336%	1h	2.9350	+0.068%	$57K	$69K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0432% / S −0.0367%	1h	2.9337	+0.024%	$30K	—	100x	as long as short