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: KuCoin against SunX+0.101%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$214as in the Funding arb table

Net, price: spread back to 7d avg − costs−$201as in the Price arb table

costs, in and out, $10k−$2042.045% of the position

Long on SunX Short on KuCoin

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)−0.101%−$10 · spread now +0.101%, 7d avg +0.064%

Together, before fees−0.196%−$20 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: KuCoin is 0.038% dearer against SunX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ICP-USDT	2.9620	0.0100	pay 0.0100% / 8h	3h 45m	$2K	$1.5M	20x
Short	KuCoin ICPUSDTM	2.9650	0.0100	get 0.0100% / 8h	3h 45m	$4.9M	$12.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against SunX. 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 SunXbpFee KuCoinbpOrdersPrice spread, now +0.101%Rate

Funding earned: $0
Price spread: +0.101% → +0.064%: $3.77
Slippage, 4 orders: −$184.5
Fee SunX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$200.73
Costs to cover: 2.045%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; KuCoin: live order book, 4 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 SunX live order book, 10 min ago	43.85 bp	73.6 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	3.38 bp	28.5 bp −$29	73.8 bp −$738	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
Phemex ICPUSDT	−0.0058%	8h	2.9600	−0.068%	$1.8M	$790K	50x	as long as short
Kraken Futures PF_ICPUSD	−0.0058%	1h	2.9664	+0.149%	$531K	$603K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9562	−0.195%	$69K	$3K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9637	+0.057%	$264	$439	50x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9622	+0.008%	$22K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.152%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0081%	8h	2.9570	−0.169%	$1.0M	$135K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9653	+0.111%	$154K	$478K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9676	+0.189%	$4.6M	$4.9M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9643	+0.077%	$264K	$1.6M	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	2.9574	−0.157%	$134K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9651	+0.106%	$29.1M	$48.8M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9620	0.000%	$17.1M	$17.4M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9630	+0.034%	$5.7M	$15.4M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9630	+0.034%	$1.9M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9620	0.000%	$19.2M	$10.1M	50x	as long as short
KuCoin ICPUSDTMshort	+0.0100%	8h	2.9650	+0.101%	$4.9M	$12.4M	50x
Bitget ICPUSDT	+0.0100%	8h	2.9640	+0.068%	$7.0M	$4.6M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9650	+0.101%	—	$5.7M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9565	−0.186%	$23K	$281K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9559	−0.205%	$566K	$470K	10x	as long as short
SunX ICP-USDTlong	+0.0100%	8h	2.9620	long leg	$2K	$1.5M	20x
HTX ICP-USDT	+0.0100%	8h	2.9600	−0.068%	$104K	$117K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9640	+0.067%	$22K	$132K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9590	−0.101%	$1.2M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0352%	1h	2.9750	+0.439%	$67K	$60K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0434% / S −0.0367%	1h	2.9624	+0.013%	$31K	—	100x	as long as short