Funding arb · Price arb /

ICP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.028%

Price spread now: KuCoin against gTrade (Gains Network)−0.202%7-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 KuCoin

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

Funding pays, the price is against you. KuCoin is 0.202% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.202% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 7.2 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	gTrade (Gains Network) ICP/USD	2.9690	L +0.0006% / S −0.0010%	pay 0.0001% / 1h	4m 36s	$26K	—	150x
Short	KuCoin ICPUSDTM	2.9630	0.0100	get 0.0100% / 8h	2h 04m	$5.2M	$12.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.202%Rate

Funding earned: $19.67
Price spread: −0.202% → 0.000%: −$20.21
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$22.54
Costs to cover: 0.220%
Break-even: 15.0 days

Slippage unknown: gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	3.36 bp	26.9 bp −$27	73.4 bp −$734	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
Phemex ICPUSDT	−0.1304%	8h	2.9650	−0.135%	$1.7M	$778K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0390%	1h	2.9667	−0.077%	$264	$464	50x	as long as short
Variational Omni ICP	−0.0225%	8h	2.9624	−0.223%	$1.1M	$121K	—	as long as short
Injective ICP/USDC PERP	−0.0199%	1h	2.9665	−0.084%	$202	$200K	12x	as long as short
Gate ICP_USDT	−0.0112%	8h	2.9620	−0.236%	$1.9M	$2.7M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9669	−0.072%	$69K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USDlong	L +0.0006% / S −0.0010%	1h	2.9690	long leg	$26K	—	150x
Bybit ICPUSDT	+0.0032%	8h	2.9600	−0.303%	$17.1M	$17.7M	75x	as long as short
Lighter ICP	+0.0096%	1h	2.9652	−0.128%	$165K	$443K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9648	−0.141%	$186K	$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	2.9632	−0.195%	$134K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9630	−0.202%	$28.8M	$49.0M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9610	−0.269%	$5.8M	$15.6M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9620	−0.236%	$19.3M	$8.7M	50x	as long as short
KuCoin ICPUSDTMshort	+0.0100%	8h	2.9630	−0.202%	$5.2M	$12.9M	50x
Bitget ICPUSDT	+0.0100%	8h	2.9640	−0.168%	$6.8M	$4.5M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9630	−0.202%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9757	+0.224%	$23K	$277K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9750	+0.202%	$569K	$469K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9650	−0.135%	$2K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9660	−0.101%	$106K	$219K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9618	−0.244%	$25K	$124K	10x	as long as short
Kraken Futures PF_ICPUSD	+0.0149%	1h	2.9672	−0.059%	$486K	$518K	50x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9670	−0.067%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0232%	1h	2.9890	+0.674%	$62K	$89K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0432% / S −0.0367%	1h	2.9681	−0.031%	$31K	—	100x	as long as short
Hyperliquid ICP	+0.0811%	1h	2.9683	−0.024%	$4.7M	$5.0M	5x	as long as short