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 0.000%

Price spread now: Bitget against HTX0.000%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1011.007% of the position

Long on HTX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now 0.000%, 7d avg +0.079%

Together, before fees+0.035%+$3 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: Bitget is 0.079% cheaper against HTX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ICP-USDT	2.9440	0.0100	pay 0.0100% / 8h	4h 46m	$103K	$176K	20x
Short	Bitget ICPUSDT	2.9440	0.0100	get 0.0100% / 8h	4h 46m	$6.9M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against HTX. 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 HTXbpFee BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.079%: −$7.87
Slippage, 4 orders: −$76.68
Fee HTX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$108.55
Costs to cover: 1.007%
Break-even: never at this rate

Slippage from HTX: live order book, 9 min ago; Bitget: live order book, 1 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 HTX live order book, 9 min ago	15.19 bp	21.2 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	3.40 bp	13.3 bp −$13	31.1 bp −$311	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
dYdX ICP-USD	0.0000%	1h	2.9445	+0.016%	$69K	$3K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9411	−0.099%	$262	$464	50x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9442	+0.007%	$22K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.764%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0092%	8h	2.9460	+0.067%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9443	+0.010%	$157K	$485K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9432	−0.027%	$267K	$1.7M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9428	−0.039%	$133K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9430	−0.034%	$28.9M	$51.9M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9420	−0.068%	$17.0M	$18.6M	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	2.9420	−0.068%	$5.6M	$16.5M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9430	−0.034%	$1.8M	$3.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9440	0.000%	$19.7M	$10.2M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9420	−0.068%	$4.8M	$12.8M	50x	as long as short
Bitget ICPUSDTshort	+0.0100%	8h	2.9440	0.000%	$6.9M	$4.8M	50x
BingX ICP-USDT	+0.0100%	8h	2.9430	−0.034%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9449	+0.029%	$23K	$281K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9442	+0.007%	$569K	$464K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9430	−0.034%	$1K	$1.7M	20x	as long as short
HTX ICP-USDTlong	+0.0100%	8h	2.9440	long leg	$103K	$176K	20x
Phemex ICPUSDT	+0.0100%	8h	2.9400	−0.136%	$1.7M	$792K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9424	−0.053%	$22K	$124K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9430	−0.034%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9710	+0.917%	$67K	$63K	50x	as long as short
Hyperliquid ICP	+0.0374%	1h	2.9478	+0.129%	$4.6M	$5.0M	5x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0503% / S −0.0480%	1h	2.9448	+0.028%	$37K	—	100x	as long as short
Kraken Futures PF_ICPUSD	+0.0573%	1h	2.9447	+0.023%	$517K	$625K	50x	as long as short