Funding arb · Price arb /

ICP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0305%/8hpaid last 24h −0.078%

Price spread now: Aster against GMX+0.061%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Aster

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 airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.061% dearer against GMX than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ICP/USD [WBTC.b-USDC]	2.9326	L +0.0405% / S −0.0323%	pay 0.0051% / 1h	6m 15s	$30K	—	100x
Short	Aster ICPUSDT	2.9343	0.0100	get 0.0100% / 8h	4h 06m	$194K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$63.98
Price spread: +0.061% → 0.000%: $6.11
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$77.88
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Aster: live order book, 1 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 1 min ago	3.41 bp	15.0 bp −$15	doesn't fit	doesn't fit	doesn't fit

GMX: 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	−0.0928%	8h	2.9150	−0.598%	$1.7M	$792K	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0484%	1h	2.9317	−0.030%	$483K	$534K	50x	as long as short
Variational Omni ICP	−0.0361%	8h	2.9295	−0.105%	$1.1M	$116K	—	as long as short
Injective ICP/USDC PERP	−0.0291%	1h	2.9175	−0.513%	$198	$118K	12x	as long as short
Bybit ICPUSDT	−0.0251%	8h	2.9270	−0.189%	$16.7M	$16.9M	75x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0227%	1h	2.9316	−0.032%	$261	$464	50x	as long as short
Gate ICP_USDT	−0.0189%	8h	2.9300	−0.087%	$1.8M	$2.7M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9355	+0.101%	$68K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9331	+0.019%	$26K	—	150x	as long as short
OKX ICP-USDT-SWAP	+0.0059%	8h	2.9310	−0.053%	$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	2.9320	−0.019%	$194K	$370K	5x	as long as short
Aster ICPUSDTshort	+0.0100%	8h	2.9343	+0.061%	$194K	$1.6M	20x
Pacifica ICP	+0.0100%	1h	2.9316	−0.034%	$133K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9301	−0.083%	$28.4M	$47.5M	75x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9310	−0.053%	$19.0M	$7.7M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9330	+0.015%	$5.3M	$12.2M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9330	+0.015%	$6.8M	$4.3M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9310	−0.053%	—	$4.7M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9345	+0.065%	$23K	$276K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9327	+0.004%	$563K	$478K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9310	−0.053%	$2K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9340	+0.049%	$104K	$220K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9297	−0.096%	$24K	$133K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9320	−0.019%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0280%	1h	2.9400	+0.254%	$62K	$85K	50x	as long as short
Hyperliquid ICP	+0.0392%	1h	2.9339	+0.046%	$4.8M	$4.6M	5x	as long as short
GMX ICP/USD [WBTC.b-USDC]long	L +0.0405% / S −0.0323%	1h	2.9326	long leg	$30K	—	100x