Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: HTX against dYdX−0.191%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.186%+$19 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. HTX is 0.191% cheaper against dYdX than usual: you would sell low and buy high (spread −0.191% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 6.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ICP-USD	2.9636	0	get 0.0000% / 1h	14m 06s	$69K	$3K	5x
Short	HTX ICP-USDT	2.9580	0.0100	get 0.0100% / 8h	4h 14m	$103K	$137K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now −0.191%Rate

Funding earned: $21
Price spread: −0.191% → 0.000%: −$19.06
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$20.06
Costs to cover: 0.220%
Break-even: 13.7 days

Slippage unknown: dYdX: no order-book sample; HTX: live order book, 42 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell HTX live order book, 42 min ago	15.19 bp	52.8 bp −$53	doesn't fit	doesn't fit	doesn't fit

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 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	−0.0087%	1h	2.9656	+0.066%	$264	$464	50x	as long as short
dYdX ICP-USDlong	0.0000%	1h	2.9636	long leg	$69K	$3K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9657	+0.070%	$22K	—	150x	as long as short
Phemex ICPUSDT	+0.0014%	8h	2.9610	−0.089%	$1.8M	$791K	50x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.096%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0090%	8h	2.9620	−0.056%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9678	+0.140%	$157K	$487K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9662	+0.087%	$263K	$1.6M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9655	+0.063%	$134K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9655	+0.063%	$29.1M	$50.6M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ICPUSDT	+0.0100%	8h	2.9650	+0.046%	$17.2M	$18.2M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9660	+0.079%	$5.7M	$16.1M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9650	+0.046%	$1.9M	$3.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9660	+0.079%	$19.7M	$10.3M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9650	+0.046%	$4.8M	$12.6M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9670	+0.113%	$7.0M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9660	+0.079%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9627	−0.033%	$23K	$281K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9634	−0.008%	$564K	$459K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9650	+0.046%	$2K	$1.6M	20x	as long as short
HTX ICP-USDTshort	+0.0100%	8h	2.9580	−0.191%	$103K	$137K	20x
Extended ICP-USD	+0.0104%	1h	2.9645	+0.028%	$23K	$126K	10x	as long as short
Hyperliquid ICP	+0.0138%	1h	2.9687	+0.170%	$4.6M	$4.9M	5x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9610	−0.089%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9820	+0.619%	$67K	$61K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0434% / S −0.0367%	1h	2.9653	+0.057%	$31K	—	100x	as long as short
Kraken Futures PF_ICPUSD	+0.0569%	1h	2.9677	+0.137%	$521K	$601K	50x	as long as short