Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against KuCoin+0.051%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.051% dearer against KuCoin than usual: you sell high and buy low (spread +0.051% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ICPUSDTM	2.9650	0.0100	pay 0.0100% / 8h	4h 23m	$4.8M	$12.7M	50x
Short	dYdX ICP-USD	2.9665	0	get 0.0000% / 1h	23m 33s	$69K	$3K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against KuCoin. 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 KuCoinbpFee dYdXbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$21
Price spread: +0.051% → 0.000%: $5.07
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$37.93
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; dYdX: no order-book sample. 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 KuCoin live order book, 5 min ago	3.37 bp	22.6 bp −$23	74.1 bp −$741	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
dYdX ICP-USDshort	0.0000%	1h	2.9665	+0.051%	$69K	$3K	5x
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9650	0.000%	$264	$464	50x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9663	+0.042%	$22K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.051%	$202	$200K	12x	as long as short
Phemex ICPUSDT	+0.0071%	8h	2.9630	−0.067%	$1.8M	$791K	50x	as long as short
Variational Omni ICP	+0.0094%	8h	2.9615	−0.120%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9673	+0.078%	$157K	$487K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9667	+0.058%	$270K	$1.6M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9651	+0.005%	$134K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9641	−0.031%	$29.1M	$50.7M	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	2.9630	−0.067%	$17.1M	$18.3M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9650	0.000%	$5.7M	$16.2M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9640	−0.034%	$1.9M	$3.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9640	−0.034%	$19.9M	$10.3M	50x	as long as short
KuCoin ICPUSDTMlong	+0.0100%	8h	2.9650	long leg	$4.8M	$12.7M	50x
Bitget ICPUSDT	+0.0100%	8h	2.9650	0.000%	$7.0M	$4.7M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9650	0.000%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9656	+0.020%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9665	+0.049%	$565K	$467K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9660	+0.034%	$1K	$1.6M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9590	−0.202%	$104K	$150K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9641	−0.032%	$23K	$130K	10x	as long as short
Hyperliquid ICP	+0.0176%	1h	2.9680	+0.101%	$4.6M	$4.9M	5x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9660	+0.034%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9820	+0.573%	$67K	$61K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0535% / S −0.0528%	1h	2.9656	+0.021%	$39K	—	100x	as long as short
Kraken Futures PF_ICPUSD	+0.0569%	1h	2.9682	+0.109%	$521K	$601K	50x	as long as short