ICP

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0501%/8h= −54.9% APRnext payment −$0.63 per $10,000 · paid last 24h −0.072%

Price spread now: Kraken Futures against dYdX+0.059%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.251%−$25 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. Kraken Futures is 0.059% dearer against dYdX than usual: you sell high and buy low (spread +0.059% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.251% in total) that is about 39 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.251% in total (about -13.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.63 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ICP-USD	2.9689	0	get 0.0000% / 1h	31m 47s	$69K	$4K	5x
Short	Kraken Futures PF_ICPUSD	2.9706	−0.0501	pay 0.0063% / 1h	31m 47s	$495K	$524K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$105.3
Price spread: +0.059% → 0.000%: $5.85
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$119.45
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Kraken Futures: live order book, 16 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 Kraken Futures live order book, 16 min ago	6.79 bp	20.0 bp −$20	49.3 bp −$493	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
Phemex ICPUSDT	−0.1491%	8h	2.9490	−0.671%	$1.7M	$784K	50x	as long as short
Kraken Futures PF_ICPUSDshort	−0.0501%	1h	2.9706	+0.059%	$495K	$524K	50x
Variational Omni ICP	−0.0355%	8h	2.9640	−0.164%	$1.1M	$104K	—	as long as short
Injective ICP/USDC PERP	−0.0320%	1h	2.9175	−1.732%	$198	$88K	12x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0255%	1h	2.9689	0.000%	$265	$464	50x	as long as short
Bybit ICPUSDT	−0.0204%	8h	2.9660	−0.098%	$17.2M	$17.3M	75x	as long as short
Gate ICP_USDT	−0.0176%	8h	2.9660	−0.098%	$1.8M	$2.7M	50x	as long as short
dYdX ICP-USDlong	0.0000%	1h	2.9689	long leg	$69K	$4K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9686	−0.009%	$26K	—	150x	as long as short
OKX ICP-USDT-SWAP	+0.0038%	8h	2.9670	−0.064%	$5.8M	$15.7M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter ICP	+0.0096%	1h	2.9722	+0.111%	$168K	$443K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9735	+0.155%	$4.8M	$4.7M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9699	+0.035%	$197K	$1.6M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9699	+0.033%	$135K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9680	−0.029%	$28.7M	$48.1M	75x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9680	−0.031%	$20.6M	$8.0M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9690	+0.003%	$5.3M	$12.5M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9700	+0.037%	$6.9M	$4.3M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9670	−0.064%	—	$4.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9660	−0.096%	$23K	$277K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9665	−0.082%	$571K	$491K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9670	−0.064%	$2K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9650	−0.132%	$106K	$220K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9675	−0.049%	$24K	$133K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9630	−0.199%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0256%	1h	2.9690	+0.003%	$62K	$85K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0422% / S −0.0353%	1h	2.9681	−0.027%	$31K	—	100x	as long as short