Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.018%

Price spread now: OKX against dYdX−0.115%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.089%+$9 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. OKX is 0.115% cheaper against dYdX than usual: you would sell low and buy high (spread −0.115% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 3.8 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.089% in total) that is about 9.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ICP-USD	3.0075	0	get 0.0000% / 1h	16m 14s	$70K	$4K	5x
Short	OKX ICP-USDT-SWAP	3.0040	0.0100	get 0.0100% / 8h	6h 16m	$5.8M	$17.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against dYdX. 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 dYdXbpFee OKXbpOrdersPrice spread, now −0.115%Rate

Funding earned: $21
Price spread: −0.115% → 0.000%: −$11.5
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$10.5
Costs to cover: 0.200%
Break-even: 10.5 days

Slippage unknown: dYdX: no order-book sample; OKX: live order book, 2 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell OKX live order book, 2 min ago	1.66 bp	11.9 bp −$12	33.5 bp −$335	doesn't fit	doesn't fit

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 26 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	−0.0216%	1h	3.0048	−0.088%	$268	$464	50x	as long as short
dYdX ICP-USDlong	0.0000%	1h	3.0075	long leg	$70K	$4K	5x
Variational Omni ICP	+0.0005%	8h	3.0149	+0.249%	$1.1M	$118K	—	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	3.0053	−0.072%	$23K	—	150x	as long as short
Phemex ICPUSDT	+0.0017%	8h	3.0020	−0.182%	$1.8M	$799K	50x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−1.362%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	3.0072	−0.009%	$164K	$492K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	3.0068	−0.023%	$280K	$1.7M	20x	as long as short
Pacifica ICP	+0.0100%	1h	3.0051	−0.079%	$136K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	3.0041	−0.113%	$29.7M	$53.8M	75x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ICPUSDT	+0.0100%	8h	3.0040	−0.115%	$17.6M	$19.0M	75x	as long as short
OKX ICP-USDT-SWAPshort	+0.0100%	8h	3.0040	−0.115%	$5.8M	$17.1M	50x
Gate ICP_USDT	+0.0100%	8h	3.0040	−0.115%	$1.9M	$3.1M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	3.0050	−0.082%	$19.4M	$10.1M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	3.0030	−0.148%	$4.9M	$13.4M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	3.0060	−0.049%	$7.1M	$4.9M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	3.0040	−0.115%	—	$6.0M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	3.0086	+0.039%	$23K	$280K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	3.0104	+0.099%	$584K	$491K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	3.0050	−0.082%	$1K	$1.8M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	3.0020	−0.182%	$105K	$239K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	3.0039	−0.117%	$22K	$125K	10x	as long as short
Hyperliquid ICP	+0.0183%	1h	3.0088	+0.046%	$4.7M	$5.0M	5x	as long as short
Coinbase International ICP-PERP-INTX	+0.0256%	1h	3.0180	+0.351%	$65K	$71K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0509% / S −0.0480%	1h	3.0059	−0.051%	$37K	—	100x	as long as short
Kraken Futures PF_ICPUSD	+0.0893%	1h	3.0080	+0.018%	$545K	$609K	50x	as long as short