Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.049%

Price spread now: dYdX against BloFin+0.101%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.389%−$39 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 0.101% dearer against BloFin than usual: you sell high and buy low (spread +0.101% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ICP-USDT	2.9520	0.0220	pay 0.0220% / 8h	2h 05m	$1.2M	$2.4M	75x
Short	dYdX ICP-USD	2.9550	0	get 0.0000% / 1h	5m 00s	$69K	$3K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee dYdXbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$46.2
Price spread: +0.101% → 0.000%: $10.05
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$58.15
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 3 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 BloFin live order book, 3 min ago	3.39 bp	11.9 bp −$12	19.3 bp −$193	74.8 bp −$7,480	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
Deribit ICP_USDC-PERPETUAL	−0.0190%	1h	2.9521	+0.003%	$192	$439	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0068%	1h	2.9551	+0.106%	$524K	$667K	50x	as long as short
Phemex ICPUSDT	−0.0043%	8h	2.9430	−0.305%	$1.8M	$673K	50x	as long as short
dYdX ICP-USDshort	0.0000%	1h	2.9550	+0.101%	$69K	$3K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9532	+0.042%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.491%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0064%	8h	2.9530	+0.033%	$1.0M	$133K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9543	+0.078%	$140K	$496K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9581	+0.207%	$4.6M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9554	+0.114%	$264K	$1.3M	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	2.9553	+0.112%	$134K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9531	+0.039%	$28.9M	$48.9M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9540	+0.068%	$17.3M	$17.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9530	+0.034%	$5.7M	$15.0M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9540	+0.068%	$1.9M	$2.9M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9540	+0.068%	$18.6M	$10.0M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9540	+0.068%	$4.9M	$12.2M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9550	+0.102%	$7.0M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9540	+0.068%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9498	−0.074%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9516	−0.015%	$570K	$506K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9520	0.000%	$1K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9510	−0.034%	$103K	$118K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9532	+0.041%	$23K	$131K	10x	as long as short
BloFin ICP-USDTlong	+0.0220%	8h	2.9520	long leg	$1.2M	$2.4M	75x
Coinbase International ICP-PERP-INTX	+0.0336%	1h	2.9550	+0.102%	$57K	$70K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0433% / S −0.0367%	1h	2.9529	+0.029%	$31K	—	100x	as long as short