Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0267%/8h= +29.3% APRpaid last 24h +0.051%

Price spread now: GMX against Aster−0.027%7-day average — · you buy dearer than you sell

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.027% cheaper against Aster than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 8 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ICPUSDT	2.9801	0.0100	pay 0.0100% / 8h	1h 50m	$184K	$1.4M	20x
Short	GMX ICP/USD [WBTC.b-USDC]	2.9793	L +0.0433% / S −0.0367%	get 0.0046% / 1h	50m 13s	$31K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.027%Rate

Funding earned: $56.12
Price spread: −0.027% → 0.000%: −$2.66
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $33.46
Costs to cover: 0.200%
Break-even: 2.8 days

Slippage unknown: Aster: live order book, 3 min ago; GMX: 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 Aster live order book, 3 min ago	5.04 bp	15.2 bp −$15	302.6 bp −$3,026	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Phemex ICPUSDT	−0.1228%	8h	2.9700	−0.338%	$1.7M	$779K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0354%	1h	2.9778	−0.076%	$265	$464	50x	as long as short
Variational Omni ICP	−0.0207%	8h	2.9767	−0.112%	$1.1M	$121K	—	as long as short
Injective ICP/USDC PERP	−0.0152%	1h	2.9665	−0.455%	$202	$200K	12x	as long as short
Gate ICP_USDT	−0.0111%	8h	2.9760	−0.137%	$1.9M	$2.7M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9807	+0.021%	$69K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9795	−0.018%	$27K	—	150x	as long as short
Bybit ICPUSDT	+0.0057%	8h	2.9770	−0.103%	$17.1M	$17.7M	75x	as long as short
Lighter ICP	+0.0096%	1h	2.9805	+0.014%	$166K	$441K	5x	as long as short
Aster ICPUSDTlong	+0.0100%	8h	2.9801	long leg	$184K	$1.4M	20x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ICP	+0.0100%	1h	2.9815	+0.047%	$135K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9772	−0.098%	$28.9M	$49.4M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9760	−0.137%	$5.8M	$15.7M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9780	−0.069%	$19.2M	$8.5M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9780	−0.069%	$5.1M	$13.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9800	−0.002%	$6.8M	$4.4M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9760	−0.137%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9753	−0.161%	$23K	$277K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9790	−0.036%	$570K	$469K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9800	−0.002%	$2K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9780	−0.069%	$106K	$218K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9769	−0.106%	$25K	$124K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9760	−0.137%	$1.2M	$2.2M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0224%	1h	2.9798	−0.008%	$488K	$512K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	2.9860	+0.199%	$63K	$90K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]short	L +0.0433% / S −0.0367%	1h	2.9793	−0.027%	$31K	—	100x
Hyperliquid ICP	+0.0554%	1h	2.9832	+0.105%	$4.7M	$5.0M	5x	as long as short