Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.020%

Price spread now: Binance against gTrade (Gains Network)−0.071%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 Binance

What this pair did over the last

the charts below follow

Funding, last 4 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. Binance is 0.071% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.071% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.5 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	2.9321	L +0.0006% / S −0.0004%	pay 0.0001% / 1h	7m 51s	$6K	—	150x
Short	Binance ICPUSDT	2.9300	0.0100	get 0.0100% / 8h	5h 07m	$28.2M	$47.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.071%Rate

Funding earned: $19.77
Price spread: −0.071% → 0.000%: −$7.13
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$7.36
Costs to cover: 0.200%
Break-even: 9.6 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Binance: live order book, 12 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 Binance live order book, 12 min ago	1.71 bp	8.6 bp −$9	20.6 bp −$206	161.8 bp −$16.2K	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 exchanges

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
Phemex ICPUSDT	−0.0125%	8h	2.9260	−0.208%	$1.7M	$703K	50x	as long as short
Variational Omni ICP	−0.0123%	8h	2.9218	−0.352%	$1.1M	$195K	—	as long as short
dYdX ICP-USD	0.0000%	1h	2.9327	+0.021%	$68K	$2K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9320	−0.003%	$191	$439	50x	as long as short
gTrade (Gains Network) ICP/USDlong	L +0.0006% / S −0.0004%	1h	2.9321	long leg	$6K	—	150x
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+1.174%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	2.9329	+0.028%	$133K	$460K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9318	−0.011%	$245K	$890K	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9331	+0.034%	$132K	$9K	5x	as long as short
Binance ICPUSDTshort	+0.0100%	8h	2.9300	−0.071%	$28.2M	$47.5M	75x

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ICPUSDT	+0.0100%	8h	2.9300	−0.071%	$17.1M	$17.2M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9310	−0.037%	$5.7M	$12.8M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9300	−0.071%	$1.9M	$2.7M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9310	−0.037%	$18.3M	$9.5M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9300	−0.071%	$4.9M	$10.6M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9320	−0.003%	$6.9M	$4.3M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9310	−0.037%	—	$5.6M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9215	−0.360%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9234	−0.297%	$565K	$631K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9310	−0.037%	$2K	$1.4M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9290	−0.105%	$102K	$128K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9291	−0.104%	$22K	$241K	10x	as long as short
Kraken Futures PF_ICPUSD	+0.0188%	1h	2.9362	+0.140%	$521K	$582K	50x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9260	−0.208%	$1.2M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0424%	1h	2.9570	+0.850%	$58K	$63K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0424% / S −0.0357%	1h	2.9229	−0.314%	$30K	—	100x	as long as short
Hyperliquid ICP	+0.0622%	1h	2.9372	+0.174%	$4.6M	$4.3M	5x	as long as short