Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.019%

Price spread now: Gate against GRVT−0.269%66s7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$770.769% of the position

Long on GRVT Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.269%, 7d avg +0.018%

Together, before fees−0.174%+ Points / potential airdropGRVT: Active · farm board−$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.287% cheaper against GRVT than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of +0.018%. The two prices were read 66 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	GRVT ICP_USDT_Perp	2.9169	0.0100	pay 0.0100% / 8h	2h 40m	$555K	$489K	10x
Short	Gate ICP_USDT	2.9090	0.0100	get 0.0100% / 8h	2h 40m	$1.8M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against GRVT. 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 GRVTbpFee GatebpOrdersPrice spread, now −0.269%Rate

Funding earned: $0
Price spread: −0.269% → +0.018%: −$28.73
Slippage, 4 orders: −$52.88
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$105.61
Costs to cover: 0.769%
Break-even: never at this rate

Slippage from GRVT: live order book, 7 min ago; Gate: live order book, 3 min ago.

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 GRVT live order book, 7 min ago	3.42 bp	19.5 bp −$19	121.7 bp −$1,217	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	3.43 bp	19.3 bp −$19	70.5 bp −$705	153.6 bp −$15.4K	doesn't fit

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	−0.0505%	1h	2.9130	−0.132%	$189	$439	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0069%	1h	2.9148	−0.069%	$484K	$645K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9098	−0.244%	$68K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9104	−0.222%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+1.702%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0062%	8h	2.9110	−0.199%	$1.0M	$133K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9090	−0.269%	$140K	$492K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9119	−0.170%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9106	−0.214%	$260K	$1.3M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9107	−0.210%	$132K	$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	2.9080	−0.304%	$28.4M	$48.6M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9080	−0.304%	$17.0M	$17.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9100	−0.235%	$5.6M	$14.8M	50x	as long as short
Gate ICP_USDTshort	+0.0100%	8h	2.9090	−0.269%	$1.8M	$2.8M	50x
MEXC ICP_USDT	+0.0100%	8h	2.9080	−0.304%	$17.9M	$9.9M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9090	−0.269%	$4.8M	$12.3M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9100	−0.235%	$6.9M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9090	−0.269%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9176	+0.025%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perplong	+0.0100%	8h	2.9169	long leg	$555K	$489K	10x
SunX ICP-USDT	+0.0100%	8h	2.9130	−0.132%	$1K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9120	−0.166%	$102K	$117K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9140	−0.098%	$1.7M	$737K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9055	−0.390%	$23K	$134K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9080	−0.304%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0336%	1h	2.9220	+0.176%	$57K	$69K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0431% / S −0.0367%	1h	2.9100	−0.234%	$30K	—	100x	as long as short