Funding you earn now, next payment 06:00 UTC−0.0332%/8h= −36.3% APRpaid last 24h −0.364%
Price spread now: Phemex against GMX−0.058%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Phemex is 0.058% cheaper against GMX than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX ICP/USD [WBTC.b-USDC] | 2.9337 | L +0.0432% / S −0.0367% | pay 0.0054% / 1h | 48m 54s | $30K | — | 100x |
| Short | Phemex ICPUSDT | 2.9320 | 0.0100 | get 0.0100% / 8h | 2h 48m | $1.7M | $753K | 50x |
GMX ICP/USD [WBTC.b-USDC]
Phemex ICPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$69.71
- Price spread: −0.058% → 0.000%
- −$5.82
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$99.53
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Phemex: live order book, 4 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 GMX no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 4 min ago | 3.41 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
GMX: 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 | −0.0125% | 1h | 2.9328 | −0.031% | $191 | $439 | 50x | as long as short |
| Kraken Futures PF_ICPUSD | −0.0068% | 1h | 2.9336 | −0.004% | $485K | $629K | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 2.9352 | +0.052% | $68K | $3K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0002% | 1h | 2.9342 | +0.018% | $10K | — | 150x | as long as short |
| Injective ICP/USDC PERP | +0.0033% | 1h | 2.9665 | +1.118% | $202 | $200K | 12x | as long as short |
| Variational Omni ICP | +0.0071% | 8h | 2.9320 | −0.059% | $1.0M | $133K | — | as long as short |
| Lighter ICP | +0.0096% | 1h | 2.9341 | +0.013% | $142K | $492K | 5x | as long as short |
| Hyperliquid ICP | +0.0100% | 1h | 2.9366 | +0.099% | $4.5M | $4.8M | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 2.9352 | +0.050% | $262K | $1.5M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 2.9339 | +0.007% | $133K | $10K | 5x | as long as short |
Deribit ICP_USDC-PERPETUAL
Kraken Futures PF_ICPUSD
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Injective ICP/USDC PERP
Variational Omni ICP
Lighter ICP
Hyperliquid ICP
Aster ICPUSDT
Pacifica ICPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ICPUSDT | +0.0100% | 8h | 2.9340 | +0.010% | $28.8M | $48.4M | 75x | as long as short |
| Bybit ICPUSDT | +0.0100% | 8h | 2.9300 | −0.126% | $16.9M | $17.7M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9340 | +0.010% | $5.6M | $14.9M | 50x | as long as short |
| Gate ICP_USDT | +0.0100% | 8h | 2.9330 | −0.024% | $1.8M | $2.8M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 2.9340 | +0.010% | $18.1M | $9.9M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 2.9320 | −0.058% | $4.8M | $12.3M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 2.9340 | +0.010% | $6.9M | $4.5M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 2.9330 | −0.024% | — | $5.8M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 2.9279 | −0.197% | $23K | $279K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 2.9350 | +0.044% | $558K | $501K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 2.9320 | −0.058% | $2K | $1.5M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9280 | −0.195% | $102K | $117K | 20x | as long as short |
| Phemex ICPUSDTshort | +0.0100% | 8h | 2.9320 | −0.058% | $1.7M | $753K | 50x | |
| Extended ICP-USD | +0.0104% | 1h | 2.9324 | −0.046% | $23K | $136K | 10x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 2.9360 | +0.078% | $1.2M | $2.4M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0336% | 1h | 2.9390 | +0.180% | $57K | $69K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC]long | L +0.0432% / S −0.0367% | 1h | 2.9337 | long leg | $30K | — | 100x |
Binance ICPUSDT
Bybit ICPUSDT
OKX ICP-USDT-SWAP
Gate ICP_USDT
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX