Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1042%/8hnext payment +$10.42 per $10,000 · paid last 24h +0.281%

Price spread now: HTX against Phemex+0.480%7-day average +0.092% · you sell dearer than you buy

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

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.447%+$245 on $10k

Price spread, last 3 days (all we have)−0.439%−$44 · spread now +0.480%, 7d avg +0.092%

Together, before fees+2.008%+$201 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and HTX is 0.388% dearer against Phemex than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of +0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ICPUSDT	2.9150	−0.0942	get 0.0942% / 8h	4h 04m	$1.7M	$792K	50x
Short	HTX ICP-USDT	2.9290	0.0100	get 0.0100% / 8h	4h 04m	$104K	$220K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phemex. 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 PhemexbpFee HTXbpOrdersPrice spread, now +0.480%Rate

Funding earned: $218.75
Price spread: +0.480% → +0.092%: $38.81
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: $233.56
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: Phemex: live order book, 3 min ago; HTX: live order book, 26 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 Phemex live order book, 3 min ago	1.72 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 26 min ago	11.97 bp	59.9 bp −$60	doesn't fit	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
Phemex ICPUSDTlong	−0.0942%	8h	2.9150	long leg	$1.7M	$792K	50x
Kraken Futures PF_ICPUSD	−0.0484%	1h	2.9294	+0.494%	$483K	$534K	50x	as long as short
Variational Omni ICP	−0.0368%	8h	2.9295	+0.497%	$1.1M	$116K	—	as long as short
Injective ICP/USDC PERP	−0.0291%	1h	2.9175	+0.086%	$198	$118K	12x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0262%	1h	2.9279	+0.443%	$261	$464	50x	as long as short
Bybit ICPUSDT	−0.0255%	8h	2.9270	+0.412%	$16.7M	$16.9M	75x	as long as short
Gate ICP_USDT	−0.0194%	8h	2.9270	+0.412%	$1.8M	$2.7M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9301	+0.518%	$68K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9324	+0.598%	$26K	—	150x	as long as short
OKX ICP-USDT-SWAP	+0.0056%	8h	2.9290	+0.480%	$5.7M	$15.4M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter ICP	+0.0096%	1h	2.9300	+0.515%	$194K	$370K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9323	+0.592%	$194K	$1.6M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9300	+0.514%	$133K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9300	+0.515%	$28.4M	$47.5M	75x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9300	+0.515%	$19.0M	$7.7M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9310	+0.549%	$5.3M	$12.2M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9300	+0.515%	$6.8M	$4.3M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9280	+0.446%	—	$4.7M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9345	+0.667%	$23K	$276K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9308	+0.542%	$563K	$478K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9270	+0.412%	$1K	$1.7M	20x	as long as short
HTX ICP-USDTshort	+0.0100%	8h	2.9290	+0.480%	$104K	$220K	20x
Extended ICP-USD	+0.0104%	1h	2.9292	+0.488%	$24K	$133K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9300	+0.515%	$1.2M	$2.1M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0280%	1h	2.9400	+0.858%	$62K	$85K	50x	as long as short
Hyperliquid ICP	+0.0367%	1h	2.9331	+0.621%	$4.8M	$4.6M	5x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0405% / S −0.0325%	1h	2.9319	+0.581%	$30K	—	100x	as long as short