Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.009%

Price spread now: MEXC against SunX−0.034%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1571.570% of the position

Long on SunX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.034%, 7d avg +0.027%

Together, before fees−0.020%−$2 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: MEXC is 0.061% cheaper against SunX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ICP-USDT	2.9530	0.0100	pay 0.0100% / 8h	7h 42m	$2K	$1.5M	20x
Short	MEXC ICP_USDT	2.9520	0.0100	get 0.0100% / 8h	7h 42m	$19.4M	$9.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.034%Rate

Funding earned: $0
Price spread: −0.034% → +0.027%: −$6.11
Slippage, 4 orders: −$149.01
Fee SunX: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$163.12
Costs to cover: 1.570%
Break-even: never at this rate

Slippage from SunX: live order book, 2 min ago; MEXC: 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 SunX live order book, 2 min ago	47.31 bp	73.7 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.69 bp	4.5 bp −$4	12.1 bp −$121	69.7 bp −$6,966	139.9 bp −$69.9K

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
Kraken Futures PF_ICPUSD	−0.0340%	1h	2.9565	+0.118%	$524K	$654K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0258%	1h	2.9523	−0.024%	$192	$439	50x	as long as short
Phemex ICPUSDT	−0.0180%	8h	2.9530	0.000%	$1.8M	$686K	50x	as long as short
Variational Omni ICP	−0.0146%	8h	2.9600	+0.237%	$1.0M	$135K	—	as long as short
dYdX ICP-USD	0.0000%	1h	2.9550	+0.069%	$69K	$1K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0004%	1h	2.9542	+0.039%	$6K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.457%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	2.9533	+0.010%	$137K	$486K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9584	+0.183%	$4.5M	$4.6M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9567	+0.124%	$278K	$1.0M	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	2.9561	+0.104%	$133K	$9K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9527	−0.009%	$28.8M	$48.0M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9480	−0.169%	$17.1M	$17.8M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9500	−0.102%	$5.7M	$14.1M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9530	0.000%	$1.9M	$2.7M	50x	as long as short
MEXC ICP_USDTshort	+0.0100%	8h	2.9520	−0.034%	$19.4M	$9.8M	50x
KuCoin ICPUSDTM	+0.0100%	8h	2.9530	0.000%	$4.9M	$11.4M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9540	+0.034%	$7.0M	$4.5M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9520	−0.034%	—	$5.6M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9620	+0.303%	$23K	$280K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9618	+0.299%	$575K	$577K	10x	as long as short
SunX ICP-USDTlong	+0.0100%	8h	2.9530	long leg	$2K	$1.5M	20x
HTX ICP-USDT	+0.0100%	8h	2.9540	+0.034%	$103K	$115K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9522	−0.027%	$22K	$239K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9570	+0.135%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0416%	1h	2.9750	+0.745%	$58K	$69K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0456% / S −0.0403%	1h	2.9539	+0.031%	$33K	—	100x	as long as short