Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.005%
Price spread now: Injective against Bybit−1.901%7-day average +0.949% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.065%−$7 on $10k
+Price spread, last 3 days (all we have)+2.068%+$207 · spread now −1.901%, 7d avg +0.949%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 2.851% cheaper against Bybit than usual: you would sell low and buy high (−$285 if the spread goes back to its 7-day average of +0.949%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ICPUSDT | 3.0240 | 0.0100 | pay 0.0100% / 8h | 27m 16s | $18.0M | $18.4M | 75x |
| Short | Injective ICP/USDC PERP | 2.9665 | 0.0033 | get 0.0004% / 1h | 27m 16s | $202 | $200K | 12x |
Bybit ICPUSDT
Injective ICP/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14
- Price spread: −1.901% → +0.949%
- −$285.07
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$310.09
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 1 min ago; Injective: no order-book sample. 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 Bybit live order book, 1 min ago | 1.65 bp | 11.4 bp −$11 | 40.8 bp −$408 | 473.7 bp −$47.4K | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | −0.1448% | 8h | 3.0280 | +0.132% | $1.8M | $766K | 50x | as long as short |
| Deribit ICP_USDC-PERPETUAL | −0.0312% | 1h | 3.0214 | −0.086% | $269 | $464 | 50x | as long as short |
| Variational Omni ICP | −0.0129% | 8h | 3.0212 | −0.094% | $1.1M | $107K | — | as long as short |
| Gate ICP_USDT | −0.0019% | 8h | 3.0250 | +0.033% | $1.9M | $2.9M | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 3.0264 | +0.080% | $70K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0010% | 1h | 3.0234 | −0.018% | $27K | — | 150x | as long as short |
| Injective ICP/USDC PERPshort | +0.0033% | 1h | 2.9665 | −1.901% | $202 | $200K | 12x | |
| Lighter ICP | +0.0096% | 1h | 3.0284 | +0.146% | $157K | $454K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 3.0230 | −0.033% | $190K | $1.4M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 3.0255 | +0.049% | $137K | $11K | 5x | as long as short |
Phemex ICPUSDT
Deribit ICP_USDC-PERPETUAL
Variational Omni ICP
Gate ICP_USDT
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Lighter ICP
Aster ICPUSDT
Pacifica ICPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ICPUSDT | +0.0100% | 8h | 3.0250 | +0.033% | $29.9M | $51.6M | 75x | as long as short |
| Bybit ICPUSDTlong | +0.0100% | 8h | 3.0240 | long leg | $18.0M | $18.4M | 75x | |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 3.0240 | 0.000% | $6.1M | $16.8M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 3.0240 | 0.000% | $19.1M | $9.3M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 3.0230 | −0.033% | $5.1M | $13.2M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 3.0260 | +0.066% | $7.1M | $4.7M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 3.0240 | 0.000% | — | $5.2M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 3.0290 | +0.166% | $23K | $277K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 3.0212 | −0.092% | $577K | $436K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 3.0210 | −0.099% | $1K | $1.8M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 3.0200 | −0.132% | $107K | $222K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 3.0214 | −0.085% | $25K | $118K | 10x | as long as short |
| Kraken Futures PF_ICPUSD | +0.0171% | 1h | 3.0279 | +0.128% | $537K | $578K | 50x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 3.0220 | −0.066% | $1.3M | $2.3M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0240% | 1h | 3.0540 | +0.992% | $64K | $89K | 50x | as long as short |
| Hyperliquid ICP | +0.0241% | 1h | 3.0308 | +0.226% | $4.8M | $5.0M | 5x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0508% / S −0.0480% | 1h | 3.0223 | −0.056% | $38K | — | 100x | as long as short |
Binance ICPUSDT
OKX ICP-USDT-SWAP
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
Kraken Futures PF_ICPUSD
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
Hyperliquid ICP
GMX ICP/USD [WBTC.b-USDC]