Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0468%/8h= −51.3% APRpaid last 24h +0.070%

Price spread now: GRVT against Kraken Futures−0.094%7-day average −0.131% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$890.887% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.409%+$41 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.094%, 7d avg −0.131%

Together, before fees+0.401%+ Points / potential airdropGRVT: Active · farm board+$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.037% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.094% now, against its 7-day average of −0.131%): +$4 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 6 hours. Mind the row above: over the last 7 days funding on this pair paid +0.409%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ICPUSD	2.9693	0.0568	pay 0.0071% / 1h	24m 55s	$521K	$601K	50x
Short	GRVT ICP_USDT_Perp	2.9665	0.0100	get 0.0100% / 8h	4h 24m	$565K	$467K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Kraken Futures. 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 Kraken FuturesbpFee GRVTbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$98.36
Price spread: −0.094% → −0.131%: $3.68
Slippage, 4 orders: −$69.66
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$183.33
Costs to cover: 0.887%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 33 min ago; GRVT: live order book, 33 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 Kraken Futures live order book, 33 min ago	8.46 bp	19.8 bp −$20	62.9 bp −$629	doesn't fit	doesn't fit
Sell GRVT live order book, 33 min ago	3.38 bp	22.9 bp −$23	36.8 bp −$368	doesn't fit	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
dYdX ICP-USD	0.0000%	1h	2.9665	−0.093%	$69K	$3K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9667	−0.086%	$264	$464	50x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9671	−0.072%	$22K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−0.093%	$202	$200K	12x	as long as short
Phemex ICPUSDT	+0.0073%	8h	2.9620	−0.244%	$1.8M	$791K	50x	as long as short
Variational Omni ICP	+0.0094%	8h	2.9615	−0.263%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9678	−0.049%	$157K	$487K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9665	−0.094%	$270K	$1.6M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9657	−0.119%	$134K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9650	−0.143%	$29.1M	$50.8M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ICPUSDT	+0.0100%	8h	2.9640	−0.177%	$17.2M	$18.3M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9650	−0.143%	$5.7M	$16.2M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9650	−0.143%	$1.9M	$3.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9640	−0.177%	$19.9M	$10.3M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9650	−0.143%	$4.8M	$12.7M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9660	−0.110%	$7.0M	$4.7M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9660	−0.110%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9646	−0.156%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perpshort	+0.0100%	8h	2.9665	−0.094%	$565K	$467K	10x
SunX ICP-USDT	+0.0100%	8h	2.9670	−0.076%	$2K	$1.6M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9630	−0.211%	$104K	$151K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9642	−0.170%	$23K	$130K	10x	as long as short
Hyperliquid ICP	+0.0184%	1h	2.9671	−0.073%	$4.6M	$4.9M	5x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9660	−0.110%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9820	+0.429%	$67K	$61K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0536% / S −0.0528%	1h	2.9666	−0.088%	$39K	—	100x	as long as short
Kraken Futures PF_ICPUSDlong	+0.0568%	1h	2.9693	long leg	$521K	$601K	50x