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 +0.011%

Price spread now: MEXC against Gate−0.067%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$520.518% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 7 days+0.061%+$6 · spread now −0.067%, 7d avg +0.005%

Together, before fees+0.173%+$17 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 0.072% cheaper against Gate than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ICP_USDT	2.9820	0.0100	pay 0.0100% / 8h	5h 10m	$1.9M	$3.1M	50x
Short	MEXC ICP_USDT	2.9800	0.0100	get 0.0100% / 8h	5h 10m	$19.8M	$10.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Gate. 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 GatebpFee MEXCbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → +0.005%: −$7.2
Slippage, 4 orders: −$36.82
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 0 bp × 2 orders: $0
Net: −$59.02
Costs to cover: 0.518%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; MEXC: live order book, 3 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 Gate live order book, 2 min ago	3.36 bp	22.0 bp −$22	42.2 bp −$422	64.0 bp −$6,404	doesn't fit
Sell MEXC live order book, 3 min ago	1.67 bp	4.6 bp −$5	10.8 bp −$108	55.9 bp −$5,591	134.0 bp −$67.0K

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
dYdX ICP-USD	0.0000%	1h	2.9831	+0.035%	$69K	$4K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9882	+0.208%	$266	$464	50x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9853	+0.109%	$23K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−0.520%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0080%	8h	2.9809	−0.036%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9829	+0.030%	$160K	$486K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9830	+0.033%	$274K	$1.7M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9817	−0.011%	$135K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9816	−0.014%	$29.3M	$53.2M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9790	−0.101%	$17.3M	$19.0M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9800	−0.067%	$5.8M	$16.9M	50x	as long as short
Gate ICP_USDTlong	+0.0100%	8h	2.9820	long leg	$1.9M	$3.1M	50x
MEXC ICP_USDTshort	+0.0100%	8h	2.9800	−0.067%	$19.8M	$10.3M	50x
KuCoin ICPUSDTM	+0.0100%	8h	2.9790	−0.101%	$4.8M	$13.1M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9810	−0.034%	$7.0M	$4.9M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9820	0.000%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9866	+0.155%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9842	+0.075%	$567K	$483K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9840	+0.067%	$1K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9850	+0.101%	$104K	$181K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9810	−0.034%	$1.8M	$794K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9844	+0.081%	$23K	$122K	10x	as long as short
Hyperliquid ICP	+0.0117%	1h	2.9854	+0.114%	$4.6M	$5.0M	5x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9890	+0.235%	$1.3M	$2.2M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0293%	1h	2.9912	+0.309%	$526K	$641K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	3.0030	+0.704%	$68K	$70K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0506% / S −0.0480%	1h	2.9847	+0.091%	$37K	—	100x	as long as short