Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0441%/8h= −48.3% APRpaid last 24h −0.123%

Price spread now: Deribit against OKX+0.033%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. Deribit is 0.033% dearer against OKX than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ICP-USDT-SWAP	3.0440	0.0100	pay 0.0100% / 8h	7h 27m	$6.2M	$16.9M	50x
Short	Deribit ICP_USDC-PERPETUAL	3.0450	−0.0341	pay 0.0043% / 1h	27m 40s	$271	$464	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$92.61
Price spread: +0.033% → 0.000%: $3.29
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$106.32
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 min ago; Deribit: no order-book sample. 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 OKX live order book, 1 min ago	1.64 bp	12.6 bp −$13	35.0 bp −$350	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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-PERPETUALshort	−0.0341%	1h	3.0450	+0.033%	$271	$464	50x
Kraken Futures PF_ICPUSD	−0.0121%	1h	3.0505	+0.212%	$556K	$598K	50x	as long as short
Variational Omni ICP	−0.0066%	8h	3.0500	+0.198%	$1.1M	$110K	—	as long as short
dYdX ICP-USD	0.0000%	1h	3.0465	+0.084%	$71K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	3.0464	+0.080%	$23K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−2.546%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	3.0480	+0.131%	$174K	$480K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	3.0482	+0.138%	$337K	$1.6M	20x	as long as short
Pacifica ICP	+0.0100%	1h	3.0444	+0.013%	$138K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	3.0440	0.000%	$30.5M	$52.7M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ICPUSDT	+0.0100%	8h	3.0430	−0.033%	$18.1M	$18.6M	75x	as long as short
OKX ICP-USDT-SWAPlong	+0.0100%	8h	3.0440	long leg	$6.2M	$16.9M	50x
Gate ICP_USDT	+0.0100%	8h	3.0450	+0.033%	$2.0M	$3.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	3.0450	+0.033%	$19.6M	$9.6M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	3.0450	+0.033%	$5.1M	$13.3M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	3.0460	+0.066%	$7.2M	$4.8M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	3.0450	+0.033%	—	$5.2M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	3.0482	+0.137%	$24K	$280K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	3.0503	+0.206%	$579K	$475K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	3.0430	−0.033%	$1K	$1.8M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	3.0450	+0.033%	$107K	$239K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	3.0500	+0.197%	$1.8M	$778K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	3.0433	−0.023%	$23K	$143K	10x	as long as short
Hyperliquid ICP	+0.0167%	1h	3.0496	+0.184%	$4.7M	$4.9M	5x	as long as short
BloFin ICP-USDT	+0.0220%	8h	3.0470	+0.099%	$1.3M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0280%	1h	3.0520	+0.263%	$63K	$66K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0510% / S −0.0480%	1h	3.0454	+0.047%	$38K	—	100x	as long as short