Funding arb · Price arb /

ICP

all ICP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against KuCoin−0.102%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$199as in the Funding arb table

Net, price: spread back to 7d avg − costs−$213as in the Price arb table

costs, in and out, $10k−$2092.087% of the position

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$9 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now −0.102%, 7d avg −0.063%

Together, before fees+0.148%+$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.039% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ICPUSDTM	2.9420	0.0100	pay 0.0100% / 8h	1h 42m	$4.8M	$12.1M	50x
Short	SunX ICP-USDT	2.9390	0.0100	get 0.0100% / 8h	1h 42m	$1K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against KuCoin. 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 KuCoinbpFee SunXbpOrdersPrice spread, now −0.102%Rate

Funding earned: $0
Price spread: −0.102% → −0.063%: −$3.87
Slippage, 4 orders: −$188.72
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$212.58
Costs to cover: 2.087%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; SunX: live order book, 3 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 KuCoin live order book, 6 min ago	3.40 bp	30.2 bp −$30	86.1 bp −$861	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	49.23 bp	74.8 bp −$75	doesn't fit	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
Kraken Futures PF_ICPUSD	−0.0314%	1h	2.9459	+0.133%	$522K	$663K	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0158%	1h	2.9420	0.000%	$191	$439	50x	as long as short
Phemex ICPUSDT	−0.0100%	8h	2.9450	+0.102%	$1.8M	$677K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9465	+0.152%	$69K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9430	+0.034%	$10K	—	150x	as long as short
Variational Omni ICP	+0.0029%	8h	2.9370	−0.170%	$1.0M	$133K	—	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.833%	$202	$200K	12x	as long as short
Lighter ICP	+0.0096%	1h	2.9419	−0.003%	$139K	$495K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9459	+0.133%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9437	+0.057%	$261K	$1.1M	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	2.9442	+0.076%	$133K	$9K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9410	−0.034%	$28.8M	$48.9M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9400	−0.068%	$17.1M	$18.0M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9410	−0.034%	$5.7M	$14.9M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9400	−0.068%	$1.9M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9410	−0.034%	$18.7M	$9.9M	50x	as long as short
KuCoin ICPUSDTMlong	+0.0100%	8h	2.9420	long leg	$4.8M	$12.1M	50x
Bitget ICPUSDT	+0.0100%	8h	2.9430	+0.034%	$7.0M	$4.7M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9400	−0.068%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9425	+0.016%	$23K	$280K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9429	+0.029%	$562K	$537K	10x	as long as short
SunX ICP-USDTshort	+0.0100%	8h	2.9390	−0.102%	$1K	$1.5M	20x
HTX ICP-USDT	+0.0100%	8h	2.9430	+0.034%	$103K	$112K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9391	−0.098%	$23K	$127K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9450	+0.102%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9490	+0.238%	$57K	$70K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0410% / S −0.0331%	1h	2.9431	+0.036%	$29K	—	100x	as long as short