Funding arb · Price arb /

ICP

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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 −0.026%

Price spread now: Bybit against HTX+0.199%53s7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$136as 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−$1271.272% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 3 days (all we have)−0.089%−$9 · spread now +0.199%, 7d avg +0.023%

Together, before fees−0.179%−$18 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: Bybit is 0.177% dearer against HTX than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.023%. The two prices were read 53 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	HTX ICP-USDT	3.0110	0.0100	pay 0.0100% / 8h	6h 22m	$105K	$239K	20x
Short	Bybit ICPUSDT	3.0170	0.0100	get 0.0100% / 8h	6h 22m	$17.7M	$19.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against HTX. 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 HTXbpFee BybitbpOrdersPrice spread, now +0.199%Rate

Funding earned: $0
Price spread: +0.199% → +0.023%: $17.66
Slippage, 4 orders: −$104.22
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$109.57
Costs to cover: 1.272%
Break-even: never at this rate

Slippage from HTX: live order book, 44 min ago; Bybit: 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 HTX live order book, 44 min ago	44.46 bp	50.5 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	3.32 bp	12.0 bp −$12	33.9 bp −$339	439.6 bp −$44.0K	doesn't fit

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	−0.0281%	1h	3.0135	+0.083%	$269	$464	50x	as long as short
dYdX ICP-USD	0.0000%	1h	3.0187	+0.257%	$70K	$4K	5x	as long as short
Variational Omni ICP	+0.0002%	8h	3.0160	+0.166%	$1.1M	$118K	—	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	3.0182	+0.240%	$23K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−1.478%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	3.0208	+0.325%	$165K	$491K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	3.0189	+0.262%	$281K	$1.7M	20x	as long as short
Pacifica ICP	+0.0100%	1h	3.0189	+0.261%	$137K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	3.0173	+0.211%	$29.8M	$53.9M	75x	as long as short
Bybit ICPUSDTshort	+0.0100%	8h	3.0170	+0.199%	$17.7M	$19.0M	75x

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ICP-USDT-SWAP	+0.0100%	8h	3.0150	+0.133%	$5.9M	$17.2M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	3.0160	+0.166%	$1.9M	$3.1M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	3.0180	+0.232%	$19.5M	$10.1M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	3.0160	+0.166%	$5.0M	$13.4M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	3.0190	+0.266%	$7.1M	$4.9M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	3.0160	+0.166%	—	$6.0M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	3.0111	+0.004%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	3.0171	+0.204%	$585K	$491K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	3.0140	+0.100%	$2K	$1.8M	20x	as long as short
HTX ICP-USDTlong	+0.0100%	8h	3.0110	long leg	$105K	$239K	20x
Phemex ICPUSDT	+0.0100%	8h	3.0070	−0.133%	$1.8M	$793K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	3.0184	+0.245%	$22K	$131K	10x	as long as short
Hyperliquid ICP	+0.0240%	1h	3.0214	+0.345%	$4.7M	$5.0M	5x	as long as short
Coinbase International ICP-PERP-INTX	+0.0256%	1h	3.0180	+0.232%	$65K	$71K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0510% / S −0.0480%	1h	3.0174	+0.214%	$38K	—	100x	as long as short
Kraken Futures PF_ICPUSD	+0.0890%	1h	3.0173	+0.210%	$547K	$611K	50x	as long as short