Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX+0.026%7-day average — · you sell dearer than you buy

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

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.211%−$21 on $10k

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. dYdX is 0.026% dearer against SunX than usual: you sell high and buy low (spread +0.026% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ICP-USDT	2.9450	0.0100	pay 0.0100% / 8h	4h 30m	$2K	$1.3M	20x
Short	dYdX ICP-USD	2.9458	0	get 0.0000% / 1h	30m 31s	$68K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$21
Price spread: +0.026% → 0.000%: $2.62
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$36.38
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; dYdX: 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 SunX live order book, 7 min ago	49.28 bp	74.2 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

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 exchanges

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	−0.0307%	8h	2.9400	−0.170%	$1.7M	$703K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0293%	1h	2.9452	+0.007%	$192	$439	50x	as long as short
Variational Omni ICP	−0.0120%	8h	2.9437	−0.045%	$1.1M	$195K	—	as long as short
dYdX ICP-USDshort	0.0000%	1h	2.9458	+0.026%	$68K	$2K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0004%	1h	2.9420	−0.102%	$6K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.730%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	2.9444	−0.020%	$131K	$451K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9438	−0.040%	$247K	$895K	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9444	−0.021%	$133K	$9K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9410	−0.136%	$28.3M	$47.4M	75x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ICPUSDT	+0.0100%	8h	2.9410	−0.136%	$17.2M	$17.1M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9410	−0.136%	$5.8M	$12.7M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9400	−0.170%	$1.9M	$2.6M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9420	−0.102%	$18.3M	$9.4M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9420	−0.102%	$4.9M	$10.6M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9430	−0.068%	$7.1M	$4.4M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9410	−0.136%	—	$5.6M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9533	+0.281%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9527	+0.261%	$568K	$676K	10x	as long as short
SunX ICP-USDTlong	+0.0100%	8h	2.9450	long leg	$2K	$1.3M	20x
HTX ICP-USDT	+0.0100%	8h	2.9480	+0.102%	$103K	$128K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9403	−0.159%	$22K	$238K	10x	as long as short
Kraken Futures PF_ICPUSD	+0.0142%	1h	2.9494	+0.148%	$510K	$598K	50x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9440	−0.034%	$1.2M	$2.3M	75x	as long as short
Hyperliquid ICP	+0.0383%	1h	2.9470	+0.069%	$4.6M	$4.2M	5x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0425% / S −0.0357%	1h	2.9466	+0.054%	$30K	—	100x	as long as short
Coinbase International ICP-PERP-INTX	+0.0440%	1h	2.9580	+0.441%	$58K	$63K	50x	as long as short