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 SunX+0.067%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$206as in the Funding arb table

Net, price: spread back to 7d avg − costs−$182as in the Price arb table

costs, in and out, $10k−$1891.888% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.174%−$17 on $10k

Price spread, last 4 days (all we have)−0.137%−$14 · spread now +0.067%, 7d avg +0.002%

Together, before fees−0.311%−$31 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 0.064% dearer against SunX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ICP-USDT	2.9900	0.0100	pay 0.0100% / 8h	5h 17m	$1K	$1.7M	20x
Short	Gate ICP_USDT	2.9920	0.0100	get 0.0100% / 8h	5h 17m	$1.9M	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.002%: $6.44
Slippage, 4 orders: −$165.76
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$182.31
Costs to cover: 1.888%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; Gate: live order book, 5 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 SunX live order book, 8 min ago	48.54 bp	73.5 bp −$73	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.67 bp	20.8 bp −$21	68.6 bp −$686	159.5 bp −$16.0K	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	−0.0017%	1h	2.9907	+0.023%	$267	$464	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9972	+0.241%	$70K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9920	+0.067%	$23K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−0.786%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0080%	8h	2.9979	+0.266%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9955	+0.184%	$161K	$485K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9966	+0.222%	$4.6M	$5.0M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9942	+0.139%	$275K	$1.7M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9949	+0.164%	$136K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9922	+0.075%	$29.4M	$53.3M	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	2.9910	+0.033%	$17.4M	$18.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9930	+0.100%	$5.8M	$16.9M	50x	as long as short
Gate ICP_USDTshort	+0.0100%	8h	2.9920	+0.067%	$1.9M	$3.1M	50x
MEXC ICP_USDT	+0.0100%	8h	2.9920	+0.067%	$19.9M	$10.3M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9910	+0.033%	$4.9M	$13.1M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9940	+0.134%	$7.0M	$4.9M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9940	+0.134%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9986	+0.288%	$23K	$280K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9959	+0.196%	$569K	$483K	10x	as long as short
SunX ICP-USDTlong	+0.0100%	8h	2.9900	long leg	$1K	$1.7M	20x
HTX ICP-USDT	+0.0100%	8h	2.9910	+0.033%	$105K	$181K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9850	−0.167%	$1.8M	$794K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9912	+0.039%	$23K	$122K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9960	+0.201%	$1.3M	$2.2M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0293%	1h	2.9951	+0.171%	$527K	$641K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	3.0030	+0.435%	$68K	$70K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0507% / S −0.0480%	1h	2.9910	+0.034%	$37K	—	100x	as long as short