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: SunX against KuCoin+0.067%7-day average −0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$2022.023% of the position

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$9 on $10k

Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.067%, 7d avg −0.061%

Together, before fees−0.025%−$2 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: SunX is 0.128% dearer against KuCoin than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ICPUSDTM	2.9850	0.0100	pay 0.0100% / 8h	5h 52m	$4.9M	$13.3M	50x
Short	SunX ICP-USDT	2.9870	0.0100	get 0.0100% / 8h	5h 52m	$1K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → −0.061%: $12.78
Slippage, 4 orders: −$182.32
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$189.54
Costs to cover: 2.023%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; SunX: live order book, 4 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, 2 min ago	1.67 bp	24.1 bp −$24	74.0 bp −$740	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	48.50 bp	74.1 bp −$74	doesn't fit	doesn't fit	doesn't fit

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
dYdX ICP-USD	0.0000%	1h	2.9927	+0.257%	$70K	$4K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9870	+0.067%	$266	$464	50x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9883	+0.110%	$23K	—	150x	as long as short
Variational Omni ICP	+0.0032%	8h	3.0055	+0.687%	$1.1M	$116K	—	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−0.620%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	2.9894	+0.147%	$163K	$482K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9896	+0.154%	$4.6M	$5.0M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9876	+0.087%	$272K	$1.7M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9931	+0.270%	$136K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9848	−0.008%	$29.4M	$53.0M	75x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ICPUSDT	+0.0100%	8h	2.9840	−0.034%	$17.4M	$18.8M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9840	−0.034%	$5.8M	$16.9M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9860	+0.034%	$1.9M	$3.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9870	+0.067%	$19.0M	$10.1M	50x	as long as short
KuCoin ICPUSDTMlong	+0.0100%	8h	2.9850	long leg	$4.9M	$13.3M	50x
Bitget ICPUSDT	+0.0100%	8h	2.9860	+0.034%	$7.0M	$4.9M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9870	+0.067%	—	$6.0M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9913	+0.211%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9861	+0.037%	$579K	$481K	10x	as long as short
SunX ICP-USDTshort	+0.0100%	8h	2.9870	+0.067%	$1K	$1.7M	20x
HTX ICP-USDT	+0.0100%	8h	2.9890	+0.134%	$105K	$182K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9940	+0.302%	$1.8M	$796K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9878	+0.093%	$22K	$123K	10x	as long as short
Kraken Futures PF_ICPUSD	+0.0293%	1h	2.9915	+0.218%	$542K	$610K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	3.0010	+0.536%	$65K	$67K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0507% / S −0.0480%	1h	2.9873	+0.076%	$37K	—	100x	as long as short