Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: SunX against dYdX−0.060%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 SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.212%+$21 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. SunX is 0.060% cheaper against dYdX than usual: you would sell low and buy high (spread −0.060% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.0 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ICP-USD	2.9878	0	get 0.0000% / 1h	44m 43s	$70K	$4K	5x
Short	SunX ICP-USDT	2.9860	0.0100	get 0.0100% / 8h	1h 44m	$2K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.060%Rate

Funding earned: $21
Price spread: −0.060% → 0.000%: −$6.03
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$3.03
Costs to cover: 0.180%
Break-even: 8.0 days

Slippage unknown: dYdX: no order-book sample; SunX: live order book, 11 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 SunX live order book, 11 min ago	46.96 bp	74.1 bp −$74	doesn't fit	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 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	−0.1241%	8h	2.9730	−0.495%	$1.7M	$777K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0252%	1h	2.9865	−0.044%	$266	$464	50x	as long as short
Variational Omni ICP	−0.0204%	8h	2.9852	−0.086%	$1.1M	$121K	—	as long as short
Injective ICP/USDC PERP	−0.0152%	1h	2.9665	−0.713%	$202	$200K	12x	as long as short
Gate ICP_USDT	−0.0100%	8h	2.9850	−0.094%	$1.9M	$2.7M	50x	as long as short
dYdX ICP-USDlong	0.0000%	1h	2.9878	long leg	$70K	$4K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9875	−0.009%	$27K	—	150x	as long as short
Bybit ICPUSDT	+0.0066%	8h	2.9860	−0.060%	$17.3M	$17.7M	75x	as long as short
Lighter ICP	+0.0096%	1h	2.9887	+0.030%	$166K	$442K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9874	−0.013%	$185K	$1.4M	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	2.9871	−0.023%	$135K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9870	−0.027%	$29.5M	$49.4M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9860	−0.060%	$5.8M	$15.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9860	−0.060%	$19.2M	$8.5M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9860	−0.060%	$5.1M	$13.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9880	+0.007%	$6.8M	$4.4M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9860	−0.060%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9858	−0.065%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9845	−0.110%	$571K	$469K	10x	as long as short
SunX ICP-USDTshort	+0.0100%	8h	2.9860	−0.060%	$2K	$1.7M	20x
HTX ICP-USDT	+0.0100%	8h	2.9830	−0.161%	$106K	$219K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9858	−0.066%	$25K	$124K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9870	−0.027%	$1.2M	$2.3M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0224%	1h	2.9891	+0.044%	$489K	$512K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	2.9890	+0.040%	$63K	$90K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0504% / S −0.0480%	1h	2.9874	−0.013%	$37K	—	100x	as long as short
Hyperliquid ICP	+0.0585%	1h	2.9914	+0.120%	$4.7M	$5.0M	5x	as long as short