Funding arb · Price arb /

ICP

all ICP markets

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 −0.012%

Price spread now: OKX against BingX−0.034%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.034%, 7d avg −0.008%

Together, before fees−0.075%−$8 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: OKX is 0.026% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ICP-USDT	2.9470	0.0100	pay 0.0100% / 8h	3h 25m	—	$5.7M	—
Short	OKX ICP-USDT-SWAP	2.9460	0.0100	get 0.0100% / 8h	3h 25m	$5.7M	$15.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. 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 BingXbpFee OKXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $0
Price spread: −0.034% → −0.008%: −$2.59
Slippage, 4 orders: −$27.3
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$49.89
Costs to cover: 0.473%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; OKX: live order book, 2 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 BingX live order book, 9 min ago	3.39 bp	9.9 bp −$10	14.4 bp −$144	45.3 bp −$4,527	486.8 bp −$243.4K
Sell OKX live order book, 2 min ago	1.70 bp	14.2 bp −$14	38.5 bp −$385	doesn't fit	doesn't fit

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
Deribit ICP_USDC-PERPETUAL	−0.0089%	1h	2.9469	−0.003%	$192	$439	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0058%	1h	2.9497	+0.090%	$526K	$597K	50x	as long as short
Phemex ICPUSDT	−0.0006%	8h	2.9460	−0.034%	$1.7M	$788K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9460	−0.034%	$69K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9472	+0.006%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.662%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0081%	8h	2.9460	−0.035%	$1.0M	$134K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9477	+0.024%	$143K	$491K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9500	+0.102%	$4.6M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9470	0.000%	$260K	$1.5M	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	2.9445	−0.084%	$133K	$9K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9460	−0.034%	$28.8M	$48.6M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9460	−0.034%	$17.1M	$17.4M	75x	as long as short
OKX ICP-USDT-SWAPshort	+0.0100%	8h	2.9460	−0.034%	$5.7M	$15.0M	50x
Gate ICP_USDT	+0.0100%	8h	2.9470	0.000%	$1.9M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9460	−0.034%	$18.8M	$10.2M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9480	+0.034%	$4.8M	$12.3M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9480	+0.034%	$7.0M	$4.6M	50x	as long as short
BingX ICP-USDTlong	+0.0100%	8h	2.9470	long leg	—	$5.7M	—
edgeX ICPUSDC	+0.0100%	4h	2.9486	+0.054%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9464	−0.019%	$567K	$475K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9450	−0.068%	$1K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9390	−0.271%	$103K	$117K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9461	−0.029%	$22K	$132K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9440	−0.102%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0352%	1h	2.9550	+0.271%	$66K	$60K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0433% / S −0.0367%	1h	2.9474	+0.015%	$31K	—	100x	as long as short