Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0094%/8hpaid last 24h +0.028%

Price spread now: SunX against gTrade (Gains Network)−0.097%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 SunX

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. SunX is 0.097% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.097% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.4 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	2.9098	L +0.0006% / S −0.0010%	pay 0.0001% / 1h	51m 55s	$26K	—	150x
Short	SunX ICP-USDT	2.9070	0.0100	get 0.0100% / 8h	4h 51m	$2K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.097%Rate

Funding earned: $19.67
Price spread: −0.097% → 0.000%: −$9.69
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$8.02
Costs to cover: 0.180%
Break-even: 9.9 days

Slippage unknown: gTrade (Gains Network): no order-book sample; SunX: live order book, 10 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 SunX live order book, 10 min ago	46.32 bp	67.7 bp −$68	doesn't fit	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
Kraken Futures PF_ICPUSD	−0.0487%	1h	2.9140	+0.144%	$481K	$546K	50x	as long as short
Variational Omni ICP	−0.0356%	8h	2.9085	−0.044%	$1.0M	$116K	—	as long as short
Injective ICP/USDC PERP	−0.0291%	1h	2.8925	−0.595%	$197	$57K	12x	as long as short
Bybit ICPUSDT	−0.0225%	8h	2.9070	−0.097%	$16.4M	$16.6M	75x	as long as short
Gate ICP_USDT	−0.0218%	8h	2.9080	−0.063%	$1.8M	$2.6M	50x	as long as short
Phemex ICPUSDT	−0.0125%	8h	2.9030	−0.234%	$1.7M	$799K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9079	−0.065%	$68K	$4K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9122	+0.082%	$260	$464	50x	as long as short
gTrade (Gains Network) ICP/USDlong	L +0.0006% / S −0.0010%	1h	2.9098	long leg	$26K	—	150x
OKX ICP-USDT-SWAP	+0.0073%	8h	2.9090	−0.028%	$5.7M	$15.2M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter ICP	+0.0096%	1h	2.9115	+0.058%	$193K	$369K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9126	+0.097%	$192K	$1.8M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9091	−0.024%	$132K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9091	−0.026%	$28.2M	$47.5M	75x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9090	−0.028%	$18.6M	$7.5M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9110	+0.041%	$5.1M	$12.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9110	+0.041%	$6.7M	$4.2M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9090	−0.028%	—	$4.6M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9064	−0.118%	$23K	$276K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9045	−0.183%	$563K	$460K	10x	as long as short
SunX ICP-USDTshort	+0.0100%	8h	2.9070	−0.097%	$2K	$1.7M	20x
HTX ICP-USDT	+0.0100%	8h	2.9050	−0.166%	$104K	$220K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9093	−0.019%	$24K	$133K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9110	+0.041%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0280%	1h	2.9110	+0.041%	$62K	$84K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0378% / S −0.0275%	1h	2.9089	−0.030%	$30K	—	100x	as long as short
Hyperliquid ICP	+0.0975%	1h	2.9170	+0.247%	$5.0M	$4.4M	5x	as long as short