Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX+0.078%7-day average — · you sell dearer than you buy

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

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

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. dYdX is 0.078% dearer against SunX than usual: you sell high and buy low (spread +0.078% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ICP-USDT	2.9080	0.0100	pay 0.0100% / 8h	2h 27m	$1K	$1.5M	20x
Short	dYdX ICP-USD	2.9103	0	get 0.0000% / 1h	27m 30s	$68K	$3K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now +0.078%Rate

Funding earned: −$21
Price spread: +0.078% → 0.000%: $7.8
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$31.2
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; dYdX: 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 SunX live order book, 7 min ago	46.34 bp	67.2 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0368%	1h	2.9091	+0.038%	$189	$439	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0069%	1h	2.9094	+0.048%	$481K	$644K	50x	as long as short
dYdX ICP-USDshort	0.0000%	1h	2.9103	+0.078%	$68K	$3K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9082	+0.007%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+2.012%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0057%	8h	2.9031	−0.170%	$1.0M	$133K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9110	+0.103%	$141K	$493K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9120	+0.138%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9104	+0.083%	$260K	$1.3M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9118	+0.130%	$132K	$9K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ICPUSDT	+0.0100%	8h	2.9068	−0.040%	$28.5M	$48.8M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9050	−0.103%	$17.0M	$17.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9050	−0.103%	$5.6M	$14.7M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9070	−0.034%	$1.8M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9080	0.000%	$17.9M	$9.9M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9080	0.000%	$4.8M	$12.3M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9100	+0.069%	$6.9M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9070	−0.034%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9130	+0.170%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9144	+0.221%	$553K	$495K	10x	as long as short
SunX ICP-USDTlong	+0.0100%	8h	2.9080	long leg	$1K	$1.5M	20x
HTX ICP-USDT	+0.0100%	8h	2.9090	+0.034%	$102K	$117K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9110	+0.103%	$1.7M	$702K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9082	+0.008%	$23K	$134K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9140	+0.206%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0336%	1h	2.9260	+0.619%	$57K	$69K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0431% / S −0.0367%	1h	2.9091	+0.038%	$30K	—	100x	as long as short