Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.028%

Price spread now: edgeX against gTrade (Gains Network)−0.264%68s7-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 edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.264% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.264% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 9.4 days of funding at the current rate (+$3 a day). The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ICP/USD	2.9865	L +0.0006% / S −0.0010%	pay 0.0001% / 1h	46m 17s	$27K	—	150x
Short	edgeX ICPUSDC	2.9786	0.0100	get 0.0050% / 4h	1h 46m	$23K	$278K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.264%Rate

Funding earned: $19.67
Price spread: −0.264% → 0.000%: −$26.45
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$25.77
Costs to cover: 0.190%
Break-even: 16.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; edgeX: live order book, 36 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 edgeX live order book, 36 min ago	8.37 bp	12.9 bp −$13	27.3 bp −$273	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
Phemex ICPUSDT	−0.1237%	8h	2.9730	−0.453%	$1.7M	$778K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0352%	1h	2.9864	−0.004%	$266	$464	50x	as long as short
Variational Omni ICP	−0.0207%	8h	2.9767	−0.327%	$1.1M	$121K	—	as long as short
Injective ICP/USDC PERP	−0.0152%	1h	2.9665	−0.670%	$202	$200K	12x	as long as short
Gate ICP_USDT	−0.0105%	8h	2.9840	−0.084%	$1.9M	$2.7M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9878	+0.043%	$70K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USDlong	L +0.0006% / S −0.0010%	1h	2.9865	long leg	$27K	—	150x
Bybit ICPUSDT	+0.0063%	8h	2.9860	−0.017%	$17.3M	$17.7M	75x	as long as short
Lighter ICP	+0.0096%	1h	2.9887	+0.073%	$166K	$442K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9871	+0.021%	$185K	$1.4M	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ICP	+0.0100%	1h	2.9887	+0.074%	$135K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9860	−0.017%	$29.5M	$49.4M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9860	−0.017%	$5.8M	$15.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9860	−0.017%	$19.2M	$8.5M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9860	−0.017%	$5.1M	$13.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9880	+0.050%	$6.8M	$4.4M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9850	−0.051%	—	$4.9M	—	as long as short
edgeX ICPUSDCshort	+0.0100%	4h	2.9786	−0.264%	$23K	$278K	10x
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9784	−0.272%	$570K	$469K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9860	−0.017%	$2K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9840	−0.084%	$106K	$219K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9855	−0.034%	$25K	$124K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9850	−0.051%	$1.2M	$2.3M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0224%	1h	2.9888	+0.076%	$489K	$512K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	2.9890	+0.083%	$63K	$90K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0504% / S −0.0480%	1h	2.9856	−0.029%	$37K	—	100x	as long as short
Hyperliquid ICP	+0.0569%	1h	2.9915	+0.167%	$4.7M	$5.0M	5x	as long as short