Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0090%/8h= −9.9% APRpaid last 24h −0.027%

Price spread now: gTrade (Gains Network) against BingX+0.056%7-day average — · you sell dearer than you buy

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

Long on BingX Short on gTrade (Gains Network)

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—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.056% dearer against BingX than usual: you sell high and buy low (spread +0.056% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ICP-USDT	2.9730	0.0100	pay 0.0100% / 8h	2h 33m	—	$4.9M	—
Short	gTrade (Gains Network) ICP/USD	2.9747	L +0.0006% / S −0.0010%	get 0.0001% / 1h	33m 12s	$27K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.056%Rate

Funding earned: −$18.91
Price spread: +0.056% → 0.000%: $5.62
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$33.29
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 7 min ago; gTrade (Gains Network): 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 BingX live order book, 7 min ago	1.68 bp	12.9 bp −$13	17.8 bp −$178	85.6 bp −$8,563	492.6 bp −$246.3K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.1311%	8h	2.9620	−0.370%	$1.7M	$782K	50x	as long as short
Variational Omni ICP	−0.0263%	8h	2.9734	+0.013%	$1.1M	$119K	—	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0254%	1h	2.9729	−0.003%	$265	$464	50x	as long as short
Injective ICP/USDC PERP	−0.0199%	1h	2.9665	−0.219%	$202	$200K	12x	as long as short
Gate ICP_USDT	−0.0115%	8h	2.9720	−0.034%	$1.9M	$2.7M	50x	as long as short
Bybit ICPUSDT	−0.0019%	8h	2.9730	0.000%	$17.1M	$17.6M	75x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9755	+0.083%	$69K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USDshort	L +0.0006% / S −0.0010%	1h	2.9747	+0.056%	$27K	—	150x
Lighter ICP	+0.0096%	1h	2.9762	+0.108%	$166K	$442K	5x	as long as short
OKX ICP-USDT-SWAP	+0.0099%	8h	2.9720	−0.034%	$5.8M	$15.6M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ICPUSDT	+0.0100%	8h	2.9752	+0.073%	$187K	$1.5M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9763	+0.110%	$135K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9730	0.000%	$28.9M	$48.7M	75x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9730	0.000%	$19.6M	$8.5M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9740	+0.034%	$5.3M	$12.8M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9750	+0.067%	$6.8M	$4.4M	50x	as long as short
BingX ICP-USDTlong	+0.0100%	8h	2.9730	long leg	—	$4.9M	—
edgeX ICPUSDC	+0.0100%	4h	2.9767	+0.123%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9778	+0.162%	$571K	$481K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9720	−0.034%	$1K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9720	−0.034%	$106K	$218K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9732	+0.007%	$24K	$123K	10x	as long as short
Kraken Futures PF_ICPUSD	+0.0148%	1h	2.9764	+0.114%	$495K	$510K	50x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9720	−0.034%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0232%	1h	2.9760	+0.101%	$62K	$88K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0432% / S −0.0367%	1h	2.9737	+0.022%	$31K	—	100x	as long as short
Hyperliquid ICP	+0.0937%	1h	2.9787	+0.192%	$4.7M	$5.0M	5x	as long as short