ICP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0120%/8h= −13.1% APRnext payment −$1.20 per $10,000 · paid last 24h −0.028%

Price spread now: MEXC against BloFin−0.434%79s7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as 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−$360.355% of the position

Long on BloFin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.238%−$24 on $10k

Price spread, last 4 days (all we have)+0.399%+$40 · spread now −0.434%, 7d avg −0.001%

Together, before fees+0.161%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and MEXC is 0.433% cheaper against BloFin than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of −0.001%). Swap the legs. The two prices were read 79 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	BloFin ICP-USDT	2.9930	0.0220	pay 0.0220% / 8h	5h 27m	$1.3M	$2.2M	75x
Short	MEXC ICP_USDT	2.9800	0.0100	get 0.0100% / 8h	5h 27m	$19.7M	$10.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BloFin. 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 BloFinbpFee MEXCbpOrdersPrice spread, now −0.434%Rate

Funding earned: −$25.2
Price spread: −0.434% → −0.001%: −$43.3
Slippage, 4 orders: −$23.51
Fee BloFin: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$104.01
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; MEXC: live order book, 1 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 BloFin live order book, 5 min ago	1.67 bp	13.2 bp −$13	16.0 bp −$160	116.5 bp −$11.6K	doesn't fit
Sell MEXC live order book, 1 min ago	1.67 bp	4.7 bp −$5	13.5 bp −$135	70.4 bp −$7,036	144.2 bp −$72.1K

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	−0.0052%	1h	2.9832	−0.327%	$266	$464	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9857	−0.244%	$70K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9842	−0.294%	$23K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−0.885%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0065%	8h	2.9889	−0.137%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9838	−0.307%	$161K	$484K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9847	−0.277%	$4.6M	$5.0M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9848	−0.272%	$275K	$1.7M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9836	−0.314%	$135K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9810	−0.401%	$29.3M	$53.5M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ICPUSDT	+0.0100%	8h	2.9800	−0.434%	$17.4M	$19.0M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9820	−0.368%	$5.8M	$17.0M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9810	−0.401%	$1.9M	$3.1M	50x	as long as short
MEXC ICP_USDTshort	+0.0100%	8h	2.9800	−0.434%	$19.7M	$10.3M	50x
KuCoin ICPUSDTM	+0.0100%	8h	2.9790	−0.468%	$4.8M	$13.2M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9820	−0.368%	$7.0M	$4.9M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9810	−0.401%	—	$6.0M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9877	−0.178%	$23K	$280K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9922	−0.028%	$568K	$492K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9830	−0.334%	$2K	$1.8M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9860	−0.234%	$104K	$181K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9810	−0.401%	$1.8M	$793K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9801	−0.430%	$23K	$126K	10x	as long as short
BloFin ICP-USDTlong	+0.0220%	8h	2.9930	long leg	$1.3M	$2.2M	75x
Kraken Futures PF_ICPUSD	+0.0294%	1h	2.9864	−0.221%	$525K	$641K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9940	+0.033%	$67K	$71K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0506% / S −0.0480%	1h	2.9839	−0.303%	$37K	—	100x	as long as short