Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bitget+0.043%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.169%−$17 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 0.043% dearer against Bitget than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ICPUSDT	2.9420	0.0100	pay 0.0100% / 8h	7h 33m	$7.0M	$4.5M	50x
Short	dYdX ICP-USD	2.9433	0	get 0.0000% / 1h	33m 39s	$69K	$1K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. 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 BitgetbpFee dYdXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$21
Price spread: +0.043% → 0.000%: $4.3
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$38.7
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	1.69 bp	16.1 bp −$16	29.0 bp −$290	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
Kraken Futures PF_ICPUSD	−0.0340%	1h	2.9536	+0.393%	$523K	$655K	50x	as long as short
Variational Omni ICP	−0.0157%	8h	2.9490	+0.238%	$1.0M	$135K	—	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0055%	1h	2.9508	+0.299%	$192	$439	50x	as long as short
dYdX ICP-USDshort	0.0000%	1h	2.9433	+0.043%	$69K	$1K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0004%	1h	2.9503	+0.281%	$6K	—	150x	as long as short
Phemex ICPUSDT	+0.0016%	8h	2.9470	+0.170%	$1.7M	$687K	50x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.833%	$202	$200K	12x	as long as short
Bybit ICPUSDT	+0.0047%	8h	2.9400	−0.068%	$17.0M	$17.8M	75x	as long as short
Lighter ICP	+0.0096%	1h	2.9436	+0.054%	$137K	$487K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9448	+0.094%	$277K	$1.0M	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	2.9416	−0.014%	$133K	$9K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9430	+0.034%	$28.8M	$48.0M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9400	−0.068%	$5.7M	$14.0M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9410	−0.034%	$1.9M	$2.7M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9420	0.000%	$19.4M	$9.8M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9440	+0.068%	$4.9M	$11.3M	50x	as long as short
Bitget ICPUSDTlong	+0.0100%	8h	2.9420	long leg	$7.0M	$4.5M	50x
BingX ICP-USDT	+0.0100%	8h	2.9400	−0.068%	—	$5.7M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9517	+0.330%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9504	+0.287%	$560K	$589K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9480	+0.204%	$2K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9470	+0.170%	$103K	$115K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9422	+0.007%	$22K	$233K	10x	as long as short
Hyperliquid ICP	+0.0123%	1h	2.9469	+0.167%	$4.5M	$4.6M	5x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9500	+0.272%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0416%	1h	2.9540	+0.408%	$58K	$69K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0455% / S −0.0403%	1h	2.9475	+0.187%	$32K	—	100x	as long as short