ICP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0540%/8h= +59.1% APRnext payment +$0.67 per $10,000 · paid last 24h −0.038%

Price spread now: Kraken Futures against Injective−0.736%7-day average −0.692% · you buy dearer than you sell

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

Long on Injective Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.222%−$22 on $10k

Price spread, last 4 days (all we have)+0.607%+$61 · spread now −0.736%, 7d avg −0.692%

Together, before fees+0.385%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.043% cheaper against Injective than usual: you would sell low and buy high (spread −0.736% now, against its 7-day average of −0.692%). If the spread goes back, that is −$4 on $10k: about 6 hours of funding at the current rate (+$16 a day). Mind the row above: over the last 7 days funding on this pair cost −0.222%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.222% in total (about -11.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.67 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ICP/USDC PERP	2.9665	0.0033	pay 0.0004% / 1h	47m 13s	$202	$200K	12x
Short	Kraken Futures PF_ICPUSD	2.9447	0.0573	get 0.0072% / 1h	47m 13s	$517K	$625K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee Kraken FuturesbpOrdersPrice spread, now −0.736%Rate

Funding earned: $113.36
Price spread: −0.736% → −0.692%: −$4.35
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $98.99
Costs to cover: 0.100%
Break-even: 0.9 days

Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 11 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 Injective no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 11 min ago	8.46 bp	23.7 bp −$24	49.6 bp −$496	doesn't fit	doesn't fit

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
dYdX ICP-USD	0.0000%	1h	2.9445	−0.743%	$69K	$3K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9411	−0.856%	$262	$464	50x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0011%	1h	2.9442	−0.752%	$22K	—	150x	as long as short
Injective ICP/USDC PERPlong	+0.0033%	1h	2.9665	long leg	$202	$200K	12x
Variational Omni ICP	+0.0092%	8h	2.9460	−0.692%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9443	−0.748%	$157K	$485K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9451	−0.721%	$267K	$1.7M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9428	−0.797%	$133K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9432	−0.785%	$28.9M	$51.9M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9420	−0.826%	$17.0M	$18.6M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9440	−0.758%	$5.6M	$16.5M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9430	−0.792%	$1.8M	$3.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9440	−0.758%	$19.7M	$10.2M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9420	−0.826%	$4.8M	$12.8M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9440	−0.758%	$6.9M	$4.8M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9430	−0.792%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9449	−0.730%	$23K	$281K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9442	−0.751%	$569K	$464K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9430	−0.792%	$1K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9440	−0.758%	$103K	$176K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9400	−0.893%	$1.7M	$792K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9424	−0.811%	$22K	$124K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9430	−0.792%	$1.2M	$2.2M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9710	+0.152%	$67K	$63K	50x	as long as short
Hyperliquid ICP	+0.0381%	1h	2.9491	−0.587%	$4.5M	$4.9M	5x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0503% / S −0.0480%	1h	2.9448	−0.730%	$37K	—	100x	as long as short
Kraken Futures PF_ICPUSDshort	+0.0573%	1h	2.9447	−0.736%	$517K	$625K	50x