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 +0.012%

Price spread now: Bitget against OKX0.000%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 7 days+0.019%+$2 · spread now 0.000%, 7d avg +0.031%

Together, before fees+0.099%+$10 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 0.031% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ICP-USDT-SWAP	2.9450	0.0100	pay 0.0100% / 8h	3h 28m	$5.7M	$15.0M	50x
Short	Bitget ICPUSDT	2.9450	0.0100	get 0.0100% / 8h	3h 28m	$7.0M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.031%: −$3.09
Slippage, 4 orders: −$28.8
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$53.89
Costs to cover: 0.508%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Bitget: live order book, 5 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 OKX live order book, 5 min ago	1.70 bp	11.5 bp −$11	30.2 bp −$302	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.70 bp	16.6 bp −$17	35.7 bp −$357	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
Deribit ICP_USDC-PERPETUAL	−0.0360%	1h	2.9468	+0.061%	$192	$439	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0058%	1h	2.9506	+0.189%	$526K	$597K	50x	as long as short
Phemex ICPUSDT	−0.0015%	8h	2.9470	+0.068%	$1.7M	$788K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9494	+0.150%	$69K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9501	+0.175%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.730%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0081%	8h	2.9540	+0.305%	$1.0M	$134K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9480	+0.102%	$143K	$491K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9484	+0.115%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9470	+0.068%	$260K	$1.5M	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ICP	+0.0100%	1h	2.9475	+0.086%	$134K	$9K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9454	+0.014%	$28.9M	$48.6M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9450	0.000%	$17.0M	$17.3M	75x	as long as short
OKX ICP-USDT-SWAPlong	+0.0100%	8h	2.9450	long leg	$5.7M	$15.0M	50x
Gate ICP_USDT	+0.0100%	8h	2.9450	0.000%	$1.9M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9450	0.000%	$18.9M	$10.2M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9480	+0.102%	$4.8M	$12.4M	50x	as long as short
Bitget ICPUSDTshort	+0.0100%	8h	2.9450	0.000%	$7.0M	$4.6M	50x
BingX ICP-USDT	+0.0100%	8h	2.9460	+0.034%	—	$5.7M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9498	+0.163%	$23K	$281K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9549	+0.335%	$569K	$475K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9480	+0.102%	$1K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9430	−0.068%	$103K	$117K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9451	+0.005%	$22K	$132K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9510	+0.204%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0352%	1h	2.9550	+0.340%	$66K	$60K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0433% / S −0.0367%	1h	2.9497	+0.161%	$31K	—	100x	as long as short