Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0445%/8h= −48.7% APRpaid last 24h −0.124%

Price spread now: Deribit against OKX+0.103%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.103% dearer against OKX than usual: you sell high and buy low (spread +0.103% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ICP-USDT-SWAP	3.0220	0.0100	pay 0.0100% / 8h	18m 17s	$6.1M	$16.8M	50x
Short	Deribit ICP_USDC-PERPETUAL	3.0251	−0.0345	pay 0.0043% / 1h	18m 17s	$270	$464	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$93.45
Price spread: +0.103% → 0.000%: $10.26
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$100.19
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 min ago; Deribit: no order-book sample. 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 OKX live order book, 5 min ago	3.30 bp	12.1 bp −$12	27.7 bp −$277	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.1373%	8h	3.0330	+0.364%	$1.8M	$765K	50x	as long as short
Deribit ICP_USDC-PERPETUALshort	−0.0345%	1h	3.0251	+0.103%	$270	$464	50x
Variational Omni ICP	−0.0122%	8h	3.0296	+0.251%	$1.1M	$107K	—	as long as short
Gate ICP_USDT	−0.0013%	8h	3.0240	+0.066%	$1.9M	$2.9M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	3.0265	+0.148%	$70K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	3.0265	+0.147%	$27K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−1.837%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	3.0274	+0.179%	$157K	$455K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	3.0249	+0.095%	$188K	$1.4M	20x	as long as short
Pacifica ICP	+0.0100%	1h	3.0257	+0.121%	$137K	$11K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ICPUSDT	+0.0100%	8h	3.0241	+0.068%	$29.9M	$51.7M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	3.0240	+0.066%	$18.0M	$18.4M	75x	as long as short
OKX ICP-USDT-SWAPlong	+0.0100%	8h	3.0220	long leg	$6.1M	$16.8M	50x
MEXC ICP_USDT	+0.0100%	8h	3.0230	+0.033%	$19.2M	$9.3M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	3.0230	+0.033%	$5.1M	$13.3M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	3.0260	+0.132%	$7.1M	$4.7M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	3.0240	+0.066%	—	$5.2M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	3.0213	−0.022%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	3.0258	+0.125%	$578K	$436K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	3.0230	+0.033%	$2K	$1.8M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	3.0210	−0.033%	$107K	$222K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	3.0237	+0.058%	$25K	$118K	10x	as long as short
Kraken Futures PF_ICPUSD	+0.0171%	1h	3.0276	+0.186%	$537K	$578K	50x	as long as short
BloFin ICP-USDT	+0.0220%	8h	3.0270	+0.165%	$1.3M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	3.0540	+1.059%	$64K	$89K	50x	as long as short
Hyperliquid ICP	+0.0259%	1h	3.0297	+0.255%	$4.8M	$5.0M	5x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0508% / S −0.0480%	1h	3.0253	+0.110%	$38K	—	100x	as long as short