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 0.000%

Price spread now: BingX against KuCoin−0.068%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$670.673% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$7 on $10k

Price spread, last 7 days+0.113%+$11 · spread now −0.068%, 7d avg −0.022%

Together, before fees+0.187%+$19 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: BingX is 0.045% cheaper against KuCoin than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ICPUSDTM	2.9540	0.0100	pay 0.0100% / 8h	2h 04m	$4.9M	$12.2M	50x
Short	BingX ICP-USDT	2.9520	0.0100	get 0.0100% / 8h	2h 04m	—	$5.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.068%Rate

Funding earned: $0
Price spread: −0.068% → −0.022%: −$4.53
Slippage, 4 orders: −$45.32
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$71.84
Costs to cover: 0.673%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; BingX: live order book, 16 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 KuCoin live order book, 4 min ago	1.70 bp	21.2 bp −$21	68.0 bp −$680	doesn't fit	doesn't fit
Sell BingX live order book, 16 min ago	1.70 bp	9.9 bp −$10	14.5 bp −$145	56.6 bp −$5,658	471.3 bp −$235.7K

ICP on 26 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	−0.0224%	1h	2.9539	−0.003%	$192	$439	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0068%	1h	2.9544	+0.015%	$524K	$667K	50x	as long as short
Phemex ICPUSDT	−0.0052%	8h	2.9430	−0.372%	$1.8M	$673K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9550	+0.033%	$69K	$3K	5x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.423%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0064%	8h	2.9530	−0.034%	$1.0M	$133K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9537	−0.010%	$140K	$496K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9568	+0.095%	$4.6M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9542	+0.006%	$264K	$1.2M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9558	+0.059%	$134K	$10K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ICPUSDT	+0.0100%	8h	2.9515	−0.085%	$28.9M	$48.9M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9510	−0.102%	$17.2M	$17.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9500	−0.135%	$5.7M	$15.0M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9520	−0.068%	$1.9M	$2.9M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9520	−0.068%	$18.6M	$10.0M	50x	as long as short
KuCoin ICPUSDTMlong	+0.0100%	8h	2.9540	long leg	$4.9M	$12.2M	50x
Bitget ICPUSDT	+0.0100%	8h	2.9530	−0.034%	$7.0M	$4.6M	50x	as long as short
BingX ICP-USDTshort	+0.0100%	8h	2.9520	−0.068%	—	$5.8M	—
edgeX ICPUSDC	+0.0100%	4h	2.9498	−0.142%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9516	−0.082%	$570K	$506K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9530	−0.034%	$1K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9510	−0.102%	$103K	$118K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9527	−0.044%	$23K	$131K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9520	−0.068%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0336%	1h	2.9550	+0.034%	$57K	$70K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0433% / S −0.0367%	1h	2.9549	+0.029%	$31K	—	100x	as long as short