Funding arb · Price arb /

ICP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.028%

Price spread now: GRVT against gTrade (Gains Network)−0.322%68s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on GRVT

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 airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. GRVT is 0.322% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.322% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$32 on $10k: about 11 days of funding at the current rate (+$3 a day). The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ICP/USD	2.9292	L +0.0006% / S −0.0002%	pay 0.0001% / 1h	56m 11s	$10K	—	150x
Short	GRVT ICP_USDT_Perp	2.9198	0.0100	get 0.0100% / 8h	2h 56m	$561K	$492K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee GRVTbpOrdersPrice spread, now −0.322%Rate

Funding earned: $19.77
Price spread: −0.322% → 0.000%: −$32.23
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$31.46
Costs to cover: 0.190%
Break-even: 18.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; GRVT: live order book, 57 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell GRVT live order book, 57 min ago	5.05 bp	30.3 bp −$30	98.5 bp −$985	doesn't fit	doesn't fit

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
Deribit ICP_USDC-PERPETUAL	−0.0194%	1h	2.9288	−0.015%	$191	$439	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0068%	1h	2.9303	+0.038%	$486K	$628K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9287	−0.017%	$68K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USDlong	L +0.0006% / S −0.0002%	1h	2.9292	long leg	$10K	—	150x
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+1.272%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0070%	8h	2.9175	−0.401%	$1.0M	$134K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9293	+0.002%	$141K	$492K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9312	+0.068%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9306	+0.047%	$262K	$1.5M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9293	+0.002%	$133K	$10K	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	2.9282	−0.035%	$28.7M	$48.6M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9270	−0.076%	$16.9M	$17.7M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9280	−0.042%	$5.6M	$14.9M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9280	−0.042%	$1.8M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9280	−0.042%	$18.1M	$9.9M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9280	−0.042%	$4.8M	$12.2M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9290	−0.008%	$6.9M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9270	−0.076%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9193	−0.338%	$23K	$281K	10x	as long as short
GRVT ICP_USDT_Perpshort	+0.0100%	8h	2.9198	−0.322%	$561K	$492K	10x
SunX ICP-USDT	+0.0100%	8h	2.9280	−0.042%	$1K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9260	−0.110%	$102K	$117K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9300	+0.026%	$1.7M	$781K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9272	−0.069%	$22K	$131K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9300	+0.026%	$1.2M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0336%	1h	2.9530	+0.811%	$57K	$69K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0432% / S −0.0367%	1h	2.9288	−0.014%	$30K	—	100x	as long as short