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 +0.026%

Price spread now: SunX against Bybit+0.034%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$163as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1751.749% of the position

Long on Bybit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.034%, 7d avg +0.004%

Together, before fees+0.065%+$7 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: SunX is 0.030% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ICPUSDT	2.9470	0.0100	pay 0.0100% / 8h	1h 50m	$17.2M	$18.0M	75x
Short	SunX ICP-USDT	2.9480	0.0100	get 0.0100% / 8h	1h 50m	$2K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Bybit. 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 BybitbpFee SunXbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → +0.004%: $2.96
Slippage, 4 orders: −$155.87
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$171.91
Costs to cover: 1.749%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; SunX: live order book, 5 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 Bybit live order book, 3 min ago	3.40 bp	11.6 bp −$12	31.2 bp −$312	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	49.29 bp	74.9 bp −$75	doesn't fit	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
Kraken Futures PF_ICPUSD	−0.0314%	1h	2.9518	+0.163%	$523K	$663K	50x	as long as short
Phemex ICPUSDT	−0.0116%	8h	2.9480	+0.034%	$1.8M	$677K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9475	+0.018%	$69K	$3K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9492	+0.075%	$192	$439	50x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9503	+0.111%	$10K	—	150x	as long as short
Variational Omni ICP	+0.0032%	8h	2.9415	−0.186%	$1.0M	$132K	—	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.662%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	2.9498	+0.095%	$139K	$495K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9542	+0.244%	$4.6M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9490	+0.069%	$262K	$1.1M	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	2.9492	+0.075%	$133K	$9K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9496	+0.087%	$28.9M	$48.9M	75x	as long as short
Bybit ICPUSDTlong	+0.0100%	8h	2.9470	long leg	$17.2M	$18.0M	75x
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9480	+0.034%	$5.7M	$15.0M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9480	+0.034%	$1.9M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9500	+0.102%	$18.6M	$9.9M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9490	+0.068%	$4.8M	$12.1M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9500	+0.102%	$7.0M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9490	+0.068%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9400	−0.239%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9388	−0.277%	$566K	$524K	10x	as long as short
SunX ICP-USDTshort	+0.0100%	8h	2.9480	+0.034%	$2K	$1.5M	20x
HTX ICP-USDT	+0.0100%	8h	2.9450	−0.068%	$103K	$117K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9490	+0.068%	$23K	$127K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9420	−0.170%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9650	+0.611%	$58K	$70K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0411% / S −0.0331%	1h	2.9498	+0.096%	$29K	—	100x	as long as short