Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0094%/8hpaid last 24h +0.028%

Price spread now: KuCoin against gTrade (Gains Network)−0.094%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 KuCoin

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

Funding pays, the price is against you. KuCoin is 0.094% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.094% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.3 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	2.9378	L +0.0006% / S −0.0010%	pay 0.0001% / 1h	23m 43s	$26K	—	150x
Short	KuCoin ICPUSDTM	2.9350	0.0100	get 0.0100% / 8h	4h 23m	$5.3M	$12.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.094%Rate

Funding earned: $19.67
Price spread: −0.094% → 0.000%: −$9.39
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$11.72
Costs to cover: 0.220%
Break-even: 11.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago	3.42 bp	19.9 bp −$20	66.0 bp −$660	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	−0.0594%	8h	2.9150	−0.775%	$1.7M	$796K	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0483%	1h	2.9374	−0.012%	$484K	$536K	50x	as long as short
Variational Omni ICP	−0.0358%	8h	2.9250	−0.435%	$1.0M	$115K	—	as long as short
Injective ICP/USDC PERP	−0.0291%	1h	2.9175	−0.690%	$198	$118K	12x	as long as short
Bybit ICPUSDT	−0.0238%	8h	2.9310	−0.230%	$16.8M	$16.9M	75x	as long as short
Gate ICP_USDT	−0.0210%	8h	2.9350	−0.094%	$1.8M	$2.7M	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0056%	1h	2.9366	−0.039%	$262	$464	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9365	−0.043%	$68K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USDlong	L +0.0006% / S −0.0010%	1h	2.9378	long leg	$26K	—	150x
OKX ICP-USDT-SWAP	+0.0076%	8h	2.9320	−0.196%	$5.7M	$15.4M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter ICP	+0.0096%	1h	2.9352	−0.087%	$195K	$369K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9363	−0.049%	$194K	$1.6M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9355	−0.076%	$133K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9339	−0.132%	$28.4M	$47.5M	75x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9340	−0.128%	$18.8M	$7.6M	50x	as long as short
KuCoin ICPUSDTMshort	+0.0100%	8h	2.9350	−0.094%	$5.3M	$12.1M	50x
Bitget ICPUSDT	+0.0100%	8h	2.9340	−0.128%	$6.8M	$4.3M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9340	−0.128%	—	$4.6M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9279	−0.337%	$23K	$275K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9236	−0.481%	$558K	$469K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9350	−0.094%	$2K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9320	−0.196%	$104K	$220K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9357	−0.069%	$24K	$133K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9320	−0.196%	$1.2M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0280%	1h	2.9400	+0.076%	$62K	$85K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0395% / S −0.0307%	1h	2.9372	−0.019%	$30K	—	100x	as long as short
Hyperliquid ICP	+0.0562%	1h	2.9394	+0.056%	$4.9M	$4.5M	5x	as long as short