Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.009%

Price spread now: OKX against gTrade (Gains Network)−0.099%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 OKX

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. OKX is 0.099% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.099% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.5 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	3.0400	L +0.0006% / S −0.0010%	pay 0.0001% / 1h	40m 12s	$27K	—	150x
Short	OKX ICP-USDT-SWAP	3.0370	0.0100	get 0.0100% / 8h	40m 12s	$6.2M	$16.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.099%Rate

Funding earned: $19.67
Price spread: −0.099% → 0.000%: −$9.87
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$10.19
Costs to cover: 0.200%
Break-even: 10.6 days

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	1.64 bp	11.0 bp −$11	31.8 bp −$318	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	−0.1569%	8h	3.0360	−0.132%	$1.8M	$766K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0408%	1h	3.0376	−0.079%	$271	$464	50x	as long as short
Variational Omni ICP	−0.0142%	8h	3.0401	+0.004%	$1.1M	$107K	—	as long as short
Gate ICP_USDT	−0.0028%	8h	3.0360	−0.132%	$2.0M	$2.9M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	3.0428	+0.093%	$71K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USDlong	L +0.0006% / S −0.0010%	1h	3.0400	long leg	$27K	—	150x
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	−2.418%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	3.0415	+0.049%	$159K	$452K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	3.0388	−0.040%	$206K	$1.4M	20x	as long as short
Pacifica ICP	+0.0100%	1h	3.0416	+0.053%	$138K	$11K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ICPUSDT	+0.0100%	8h	3.0377	−0.077%	$30.0M	$51.4M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	3.0380	−0.066%	$18.0M	$18.4M	75x	as long as short
OKX ICP-USDT-SWAPshort	+0.0100%	8h	3.0370	−0.099%	$6.2M	$16.8M	50x
MEXC ICP_USDT	+0.0100%	8h	3.0380	−0.066%	$19.4M	$9.2M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	3.0370	−0.099%	$5.0M	$13.2M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	3.0390	−0.033%	$6.9M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	3.0380	−0.066%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	3.0460	+0.196%	$24K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	3.0412	+0.041%	$581K	$444K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	3.0370	−0.099%	$2K	$1.8M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	3.0370	−0.099%	$108K	$222K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	3.0365	−0.115%	$25K	$118K	10x	as long as short
Kraken Futures PF_ICPUSD	+0.0171%	1h	3.0424	+0.079%	$540K	$580K	50x	as long as short
BloFin ICP-USDT	+0.0220%	8h	3.0430	+0.099%	$1.3M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	3.0540	+0.461%	$64K	$90K	50x	as long as short
Hyperliquid ICP	+0.0262%	1h	3.0440	+0.132%	$4.8M	$5.0M	5x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0509% / S −0.0480%	1h	3.0392	−0.025%	$38K	—	100x	as long as short