Funding arb · Price arb /

ICP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.028%

Price spread now: KuCoin against gTrade (Gains Network)−0.066%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 KuCoin

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. KuCoin is 0.066% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.066% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.3 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	3.0520	L +0.0006% / S −0.0011%	pay 0.0001% / 1h	22m 30s	$23K	—	150x
Short	KuCoin ICPUSDTM	3.0500	0.0100	get 0.0100% / 8h	7h 22m	$5.1M	$13.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.066%Rate

Funding earned: $19.67
Price spread: −0.066% → 0.000%: −$6.55
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$8.88
Costs to cover: 0.220%
Break-even: 10.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	3.29 bp	27.8 bp −$28	67.0 bp −$670	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
Deribit ICP_USDC-PERPETUAL	−0.0143%	1h	3.0527	+0.023%	$272	$464	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0121%	1h	3.0566	+0.150%	$558K	$598K	50x	as long as short
Variational Omni ICP	−0.0061%	8h	3.0500	−0.066%	$1.1M	$110K	—	as long as short
dYdX ICP-USD	0.0000%	1h	3.0535	+0.049%	$71K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USDlong	L +0.0006% / S −0.0011%	1h	3.0520	long leg	$23K	—	150x
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−2.801%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	3.0572	+0.170%	$174K	$480K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	3.0552	+0.104%	$337K	$1.6M	20x	as long as short
Pacifica ICP	+0.0100%	1h	3.0540	+0.064%	$138K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	3.0500	−0.066%	$30.5M	$52.6M	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	3.0500	−0.066%	$18.1M	$18.6M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	3.0510	−0.033%	$6.2M	$16.8M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	3.0520	0.000%	$2.0M	$3.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	3.0510	−0.033%	$19.8M	$9.6M	50x	as long as short
KuCoin ICPUSDTMshort	+0.0100%	8h	3.0500	−0.066%	$5.1M	$13.4M	50x
Bitget ICPUSDT	+0.0100%	8h	3.0530	+0.033%	$7.2M	$4.8M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	3.0520	0.000%	—	$5.2M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	3.0492	−0.092%	$24K	$278K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	3.0505	−0.050%	$579K	$475K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	3.0520	0.000%	$1K	$1.8M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	3.0470	−0.164%	$107K	$239K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	3.0580	+0.197%	$1.8M	$777K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	3.0520	−0.001%	$23K	$143K	10x	as long as short
Hyperliquid ICP	+0.0162%	1h	3.0552	+0.105%	$4.8M	$4.9M	5x	as long as short
BloFin ICP-USDT	+0.0220%	8h	3.0500	−0.066%	$1.3M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0280%	1h	3.0520	0.000%	$63K	$66K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0511% / S −0.0480%	1h	3.0537	+0.057%	$38K	—	100x	as long as short