Funding arb · Price arb /

ICP

all ICP markets

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: SunX against gTrade (Gains Network)−0.076%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 SunX

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. SunX is 0.076% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.076% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 2.7 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	2.9272	L +0.0006% / S −0.0002%	pay 0.0001% / 1h	53m 41s	$10K	—	150x
Short	SunX ICP-USDT	2.9250	0.0100	get 0.0100% / 8h	2h 53m	$2K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.076%Rate

Funding earned: $19.77
Price spread: −0.076% → 0.000%: −$7.62
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$5.85
Costs to cover: 0.180%
Break-even: 9.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; SunX: live order book, 11 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 SunX live order book, 11 min ago	25.55 bp	98.2 bp −$98	doesn't fit	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
Kraken Futures PF_ICPUSD	−0.0068%	1h	2.9280	+0.025%	$485K	$629K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0057%	1h	2.9268	−0.015%	$190	$439	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9262	−0.034%	$68K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USDlong	L +0.0006% / S −0.0002%	1h	2.9272	long leg	$10K	—	150x
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+1.342%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0074%	8h	2.9265	−0.025%	$1.0M	$133K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9296	+0.081%	$141K	$492K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9323	+0.173%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9290	+0.059%	$262K	$1.5M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9293	+0.069%	$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	2.9290	+0.059%	$28.7M	$48.5M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9250	−0.076%	$16.9M	$17.7M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9260	−0.042%	$5.6M	$14.9M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9250	−0.076%	$1.8M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9270	−0.008%	$18.1M	$9.9M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9270	−0.008%	$4.8M	$12.2M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9290	+0.060%	$6.9M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9270	−0.008%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9245	−0.093%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9297	+0.085%	$563K	$492K	10x	as long as short
SunX ICP-USDTshort	+0.0100%	8h	2.9250	−0.076%	$2K	$1.5M	20x
HTX ICP-USDT	+0.0100%	8h	2.9270	−0.008%	$102K	$117K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9290	+0.060%	$1.7M	$781K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9270	−0.008%	$22K	$131K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9240	−0.110%	$1.2M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0336%	1h	2.9530	+0.880%	$57K	$69K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0432% / S −0.0367%	1h	2.9268	−0.016%	$30K	—	100x	as long as short