Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: KuCoin against dYdX−0.182%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

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. KuCoin is 0.182% cheaper against dYdX than usual: you would sell low and buy high (spread −0.182% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 6.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ICP-USD	2.9564	0	get 0.0000% / 1h	29m 25s	$69K	$3K	5x
Short	KuCoin ICPUSDTM	2.9510	0.0100	get 0.0100% / 8h	3h 29m	$4.8M	$12.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against dYdX. 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 dYdXbpFee KuCoinbpOrdersPrice spread, now −0.182%Rate

Funding earned: $21
Price spread: −0.182% → 0.000%: −$18.21
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$19.21
Costs to cover: 0.220%
Break-even: 13.4 days

Slippage unknown: dYdX: no order-book sample; KuCoin: live order book, 4 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 dYdX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	1.70 bp	27.9 bp −$28	80.0 bp −$800	doesn't fit	doesn't fit

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	−0.0360%	1h	2.9468	−0.324%	$192	$439	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0058%	1h	2.9568	+0.015%	$527K	$597K	50x	as long as short
Phemex ICPUSDT	−0.0017%	8h	2.9550	−0.047%	$1.8M	$788K	50x	as long as short
dYdX ICP-USDlong	0.0000%	1h	2.9564	long leg	$69K	$3K	5x
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9501	−0.211%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.342%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0081%	8h	2.9540	−0.081%	$1.0M	$134K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9527	−0.125%	$143K	$491K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9530	−0.114%	$4.6M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9513	−0.172%	$261K	$1.5M	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	2.9520	−0.148%	$134K	$9K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9485	−0.268%	$28.9M	$48.5M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9500	−0.216%	$17.1M	$17.3M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9470	−0.317%	$5.7M	$15.0M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9490	−0.250%	$1.9M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9490	−0.250%	$18.9M	$10.2M	50x	as long as short
KuCoin ICPUSDTMshort	+0.0100%	8h	2.9510	−0.182%	$4.8M	$12.4M	50x
Bitget ICPUSDT	+0.0100%	8h	2.9500	−0.216%	$7.0M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9510	−0.182%	—	$5.7M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9498	−0.222%	$23K	$281K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9549	−0.051%	$569K	$475K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9530	−0.114%	$2K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9480	−0.284%	$103K	$117K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9502	−0.210%	$22K	$132K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9500	−0.216%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0352%	1h	2.9550	−0.047%	$66K	$60K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0433% / S −0.0367%	1h	2.9497	−0.224%	$31K	—	100x	as long as short