Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0169%/8h= −18.5% APRpaid last 24h −0.031%

Price spread now: Kraken Futures against Gate+0.284%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$740.745% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 4 days (all we have)−0.336%−$34 · spread now +0.284%, 7d avg +0.081%

Together, before fees−0.569%−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.203% dearer against Gate than usual: you sell high and buy low (spread +0.284% now, against its 7-day average of +0.081%): +$20 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ICP_USDT	2.9070	0.0100	pay 0.0100% / 8h	2h 28m	$1.8M	$2.8M	50x
Short	Kraken Futures PF_ICPUSD	2.9152	−0.0069	pay 0.0009% / 1h	28m 41s	$482K	$644K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.284%Rate

Funding earned: −$35.4
Price spread: +0.284% → +0.081%: $20.26
Slippage, 4 orders: −$49.5
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$89.64
Costs to cover: 0.745%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Kraken Futures: live order book, 19 min ago.

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 Gate live order book, 4 min ago	1.72 bp	15.0 bp −$15	45.7 bp −$457	71.7 bp −$7,169	doesn't fit
Sell Kraken Futures live order book, 19 min ago	6.82 bp	17.8 bp −$18	45.7 bp −$457	doesn't fit	doesn't fit

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	−0.0093%	1h	2.9144	+0.255%	$190	$439	50x	as long as short
Kraken Futures PF_ICPUSDshort	−0.0069%	1h	2.9152	+0.284%	$482K	$644K	50x
dYdX ICP-USD	0.0000%	1h	2.9103	+0.112%	$68K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9160	+0.310%	$10K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+2.047%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0057%	8h	2.9031	−0.136%	$1.0M	$133K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9097	+0.093%	$140K	$493K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9153	+0.286%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9111	+0.142%	$260K	$1.3M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9105	+0.119%	$132K	$9K	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	2.9080	+0.034%	$28.5M	$48.8M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9080	+0.034%	$17.0M	$17.9M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9080	+0.034%	$5.6M	$14.7M	50x	as long as short
Gate ICP_USDTlong	+0.0100%	8h	2.9070	long leg	$1.8M	$2.8M	50x
MEXC ICP_USDT	+0.0100%	8h	2.9090	+0.069%	$17.9M	$9.9M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9090	+0.069%	$4.8M	$12.3M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9110	+0.138%	$6.9M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9090	+0.069%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9072	+0.008%	$23K	$280K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9054	−0.055%	$559K	$499K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9140	+0.241%	$1K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9070	0.000%	$101K	$117K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9130	+0.206%	$1.7M	$706K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9072	+0.008%	$23K	$134K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9140	+0.241%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0336%	1h	2.9260	+0.654%	$57K	$69K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0431% / S −0.0367%	1h	2.9159	+0.305%	$30K	—	100x	as long as short