Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX0.000%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$810.810% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 7 days+0.019%+$2 · spread now 0.000%, 7d avg +0.022%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.022% cheaper against BingX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ICP-USDT	2.9840	0.0100	pay 0.0100% / 8h	2h 28m	—	$4.9M	—
Short	KuCoin ICPUSDTM	2.9840	0.0100	get 0.0100% / 8h	2h 28m	$5.3M	$12.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.022%: −$2.21
Slippage, 4 orders: −$58.96
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$83.17
Costs to cover: 0.810%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; KuCoin: live order book, 5 min ago.

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, 2 min ago	1.68 bp	9.5 bp −$9	18.8 bp −$188	114.6 bp −$11.5K	499.6 bp −$249.8K
Sell KuCoin live order book, 5 min ago	5.05 bp	27.6 bp −$28	89.3 bp −$893	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 ICPUSDT	−0.1350%	8h	2.9710	−0.436%	$1.7M	$781K	50x	as long as short
Variational Omni ICP	−0.0254%	8h	2.9784	−0.189%	$1.1M	$119K	—	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0219%	1h	2.9861	+0.070%	$266	$464	50x	as long as short
Injective ICP/USDC PERP	−0.0199%	1h	2.9665	−0.586%	$202	$200K	12x	as long as short
Gate ICP_USDT	−0.0109%	8h	2.9830	−0.034%	$1.9M	$2.7M	50x	as long as short
Bybit ICPUSDT	−0.0004%	8h	2.9840	0.000%	$17.2M	$17.6M	75x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9864	+0.079%	$70K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9857	+0.057%	$27K	—	150x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9863	+0.076%	$188K	$1.5M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9862	+0.074%	$135K	$11K	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	2.9854	+0.047%	$29.0M	$48.8M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9850	+0.034%	$5.8M	$15.7M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9850	+0.034%	$19.3M	$8.5M	50x	as long as short
KuCoin ICPUSDTMshort	+0.0100%	8h	2.9840	0.000%	$5.3M	$12.8M	50x
Bitget ICPUSDT	+0.0100%	8h	2.9860	+0.067%	$6.9M	$4.4M	50x	as long as short
BingX ICP-USDTlong	+0.0100%	8h	2.9840	long leg	—	$4.9M	—
edgeX ICPUSDC	+0.0100%	4h	2.9793	−0.157%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9812	−0.095%	$571K	$481K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9840	0.000%	$2K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9830	−0.034%	$106K	$219K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9847	+0.025%	$24K	$123K	10x	as long as short
Lighter ICP	+0.0128%	1h	2.9883	+0.144%	$167K	$442K	5x	as long as short
Kraken Futures PF_ICPUSD	+0.0148%	1h	2.9871	+0.104%	$497K	$510K	50x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9790	−0.168%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0232%	1h	2.9860	+0.067%	$62K	$89K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0433% / S −0.0367%	1h	2.9859	+0.062%	$31K	—	100x	as long as short
Hyperliquid ICP	+0.0893%	1h	2.9906	+0.221%	$4.7M	$5.0M	5x	as long as short