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 +0.014%

Price spread now: OKX against Bybit+0.068%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$490.485% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 7 days−0.054%−$5 · spread now +0.068%, 7d avg +0.009%

Together, before fees−0.061%−$6 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: OKX is 0.058% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ICPUSDT	2.9610	0.0100	pay 0.0100% / 8h	3h 45m	$17.1M	$17.4M	75x
Short	OKX ICP-USDT-SWAP	2.9630	0.0100	get 0.0100% / 8h	3h 45m	$5.7M	$15.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now +0.068%Rate

Funding earned: $0
Price spread: +0.068% → +0.009%: $5.85
Slippage, 4 orders: −$27.52
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$42.67
Costs to cover: 0.485%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; OKX: live order book, 3 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 Bybit live order book, 3 min ago	1.69 bp	11.2 bp −$11	31.6 bp −$316	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.69 bp	14.4 bp −$14	38.6 bp −$386	doesn't fit	doesn't fit

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	−0.0062%	8h	2.9560	−0.169%	$1.8M	$790K	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0058%	1h	2.9664	+0.183%	$531K	$603K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9562	−0.161%	$69K	$3K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9637	+0.091%	$264	$439	50x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9622	+0.042%	$22K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.186%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0081%	8h	2.9570	−0.136%	$1.0M	$135K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9591	−0.064%	$154K	$478K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9643	+0.111%	$4.6M	$4.9M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9610	+0.001%	$263K	$1.6M	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	2.9574	−0.123%	$134K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9616	+0.022%	$29.1M	$48.8M	75x	as long as short
Bybit ICPUSDTlong	+0.0100%	8h	2.9610	long leg	$17.1M	$17.4M	75x
OKX ICP-USDT-SWAPshort	+0.0100%	8h	2.9630	+0.068%	$5.7M	$15.3M	50x
Gate ICP_USDT	+0.0100%	8h	2.9600	−0.034%	$1.9M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9610	0.000%	$19.2M	$10.1M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9600	−0.034%	$4.9M	$12.4M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9630	+0.068%	$7.0M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9600	−0.034%	—	$5.7M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9565	−0.153%	$23K	$281K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9559	−0.171%	$566K	$470K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9620	+0.034%	$2K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9550	−0.203%	$103K	$117K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9608	−0.007%	$22K	$132K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9550	−0.203%	$1.2M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0352%	1h	2.9750	+0.473%	$67K	$60K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0434% / S −0.0367%	1h	2.9624	+0.047%	$31K	—	100x	as long as short