Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0142%/8h= +15.5% APRpaid last 24h +0.128%

Price spread now: Gate against Deribit−0.094%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Gate is 0.094% cheaper against Deribit than usual: you would sell low and buy high (spread −0.094% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.2 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ICP_USDC-PERPETUAL	2.9798	−0.0253	get 0.0032% / 1h	51m 05s	$266	$464	50x
Short	Gate ICP_USDT	2.9770	−0.0111	pay 0.0111% / 8h	1h 51m	$1.9M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now −0.094%Rate

Funding earned: $29.82
Price spread: −0.094% → 0.000%: −$9.4
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1.58
Costs to cover: 0.220%
Break-even: 7.4 days

Slippage unknown: Deribit: no order-book sample; Gate: live order book, 2 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 Deribit no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	3.36 bp	21.6 bp −$22	68.6 bp −$686	232.6 bp −$23.3K	doesn't fit

Deribit: 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	−0.1234%	8h	2.9710	−0.295%	$1.7M	$779K	50x	as long as short
Deribit ICP_USDC-PERPETUALlong	−0.0253%	1h	2.9798	long leg	$266	$464	50x
Variational Omni ICP	−0.0215%	8h	2.9802	+0.015%	$1.1M	$121K	—	as long as short
Injective ICP/USDC PERP	−0.0152%	1h	2.9665	−0.446%	$202	$200K	12x	as long as short
Gate ICP_USDTshort	−0.0111%	8h	2.9770	−0.094%	$1.9M	$2.7M	50x
dYdX ICP-USD	0.0000%	1h	2.9807	+0.030%	$69K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9816	+0.060%	$27K	—	150x	as long as short
Bybit ICPUSDT	+0.0055%	8h	2.9770	−0.094%	$17.2M	$17.7M	75x	as long as short
Lighter ICP	+0.0096%	1h	2.9827	+0.097%	$166K	$441K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9812	+0.046%	$185K	$1.4M	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ICP	+0.0100%	1h	2.9797	−0.004%	$135K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9800	+0.007%	$29.0M	$49.4M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9780	−0.060%	$5.8M	$15.7M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9790	−0.027%	$19.2M	$8.5M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9790	−0.027%	$5.1M	$13.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9800	+0.007%	$6.8M	$4.4M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9790	−0.027%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9753	−0.152%	$23K	$277K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9790	−0.027%	$570K	$469K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9790	−0.027%	$1K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9760	−0.128%	$106K	$218K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9790	−0.028%	$25K	$124K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9760	−0.128%	$1.2M	$2.2M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0224%	1h	2.9810	+0.041%	$488K	$512K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	2.9820	+0.074%	$62K	$89K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0433% / S −0.0367%	1h	2.9811	+0.043%	$31K	—	100x	as long as short
Hyperliquid ICP	+0.0570%	1h	2.9854	+0.188%	$4.7M	$5.0M	5x	as long as short