Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.027%

Price spread now: gTrade (Gains Network) against SunX+0.110%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on gTrade (Gains Network)

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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.110% dearer against SunX than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ICP-USDT	2.9470	0.0100	pay 0.0100% / 8h	36m 58s	$1K	$1.5M	20x
Short	gTrade (Gains Network) ICP/USD	2.9502	L +0.0006% / S −0.0004%	get 0.0001% / 1h	36m 58s	$6K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.110%Rate

Funding earned: −$20.12
Price spread: +0.110% → 0.000%: $10.96
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$27.16
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 8 min ago; gTrade (Gains Network): no order-book sample. 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 SunX live order book, 8 min ago	48.78 bp	73.8 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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	−0.0631%	1h	2.9474	+0.014%	$192	$439	50x	as long as short
Phemex ICPUSDT	−0.0298%	8h	2.9500	+0.102%	$1.8M	$684K	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0211%	1h	2.9509	+0.132%	$522K	$661K	50x	as long as short
Variational Omni ICP	−0.0110%	8h	2.9629	+0.540%	$1.1M	$135K	—	as long as short
dYdX ICP-USD	0.0000%	1h	2.9539	+0.235%	$69K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USDshort	L +0.0006% / S −0.0004%	1h	2.9502	+0.110%	$6K	—	150x
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.662%	$202	$200K	12x	as long as short
Bybit ICPUSDT	+0.0085%	8h	2.9490	+0.068%	$17.1M	$17.9M	75x	as long as short
Lighter ICP	+0.0096%	1h	2.9485	+0.051%	$137K	$488K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9527	+0.193%	$4.6M	$4.6M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ICPUSDT	+0.0100%	8h	2.9502	+0.110%	$281K	$1.0M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9492	+0.076%	$133K	$9K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9493	+0.080%	$28.8M	$48.2M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9480	+0.034%	$5.7M	$14.9M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9500	+0.102%	$1.9M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9490	+0.068%	$19.2M	$9.9M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9500	+0.102%	$4.9M	$11.7M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9520	+0.170%	$7.0M	$4.7M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9490	+0.068%	—	$5.6M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9554	+0.285%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9563	+0.316%	$570K	$568K	10x	as long as short
SunX ICP-USDTlong	+0.0100%	8h	2.9470	long leg	$1K	$1.5M	20x
HTX ICP-USDT	+0.0100%	8h	2.9480	+0.034%	$103K	$113K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9492	+0.074%	$22K	$233K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9480	+0.034%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0376%	1h	2.9750	+0.950%	$58K	$69K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0456% / S −0.0403%	1h	2.9502	+0.109%	$33K	—	100x	as long as short