Funding you earn now, next payment 22:00 UTC+0.1111%/8h= +121.7% APRpaid last 24h +0.255%
Price spread now: Injective against Phemex+0.084%65s7-day average +1.050% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+2.278%+$228 on $10k
+Price spread, last 3 days (all we have)+0.457%+$46 · spread now +0.084%, 7d avg +1.050%
=Funding pays, the price is against you. Injective is 0.966% cheaper against Phemex than usual: you would sell low and buy high (spread +0.084% now, against its 7-day average of +1.050%). If the spread goes back, that is −$97 on $10k: about 2.9 days of funding at the current rate (+$33 a day). The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ICPUSDT | 2.9640 | −0.1311 | get 0.1311% / 8h | 2h 31m | $1.7M | $781K | 50x |
| Short | Injective ICP/USDC PERP | 2.9665 | −0.0199 | pay 0.0025% / 1h | 31m 36s | $202 | $200K | 12x |
Phemex ICPUSDT
Injective ICP/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Phemex. 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
- $233.38
- Price spread: +0.084% → +1.050%
- −$96.61
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $124.75
- Costs to cover
- 0.120%
- Break-even
- 3.3 days
Slippage unknown: Phemex: live order book, 2 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 Phemex live order book, 2 min ago | 1.69 bp | doesn't fit | doesn't fit | doesn't fit | 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 ICPUSDTlong | −0.1311% | 8h | 2.9640 | long leg | $1.7M | $781K | 50x | |
| Variational Omni ICP | −0.0263% | 8h | 2.9734 | +0.317% | $1.1M | $119K | — | as long as short |
| Injective ICP/USDC PERPshort | −0.0199% | 1h | 2.9665 | +0.084% | $202 | $200K | 12x | |
| Deribit ICP_USDC-PERPETUAL | −0.0187% | 1h | 2.9763 | +0.415% | $265 | $464 | 50x | as long as short |
| Gate ICP_USDT | −0.0114% | 8h | 2.9780 | +0.472% | $1.9M | $2.7M | 50x | as long as short |
| Bybit ICPUSDT | −0.0013% | 8h | 2.9780 | +0.472% | $17.1M | $17.6M | 75x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 2.9789 | +0.504% | $69K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0010% | 1h | 2.9763 | +0.416% | $27K | — | 150x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 2.9790 | +0.505% | $187K | $1.5M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 2.9797 | +0.528% | $135K | $11K | 5x | as long as short |
Variational Omni ICP
Deribit ICP_USDC-PERPETUAL
Gate ICP_USDT
Bybit ICPUSDT
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
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 | 2.9810 | +0.574% | $29.0M | $48.7M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9800 | +0.540% | $5.8M | $15.7M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 2.9790 | +0.506% | $19.5M | $8.5M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 2.9780 | +0.472% | $5.2M | $12.8M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 2.9810 | +0.574% | $6.8M | $4.4M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 2.9770 | +0.439% | — | $4.9M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 2.9736 | +0.324% | $23K | $278K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 2.9778 | +0.466% | $571K | $481K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 2.9730 | +0.304% | $1K | $1.7M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9720 | +0.270% | $106K | $218K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 2.9780 | +0.473% | $24K | $123K | 10x | as long as short |
| Lighter ICP | +0.0112% | 1h | 2.9814 | +0.587% | $167K | $442K | 5x | as long as short |
| Kraken Futures PF_ICPUSD | +0.0148% | 1h | 2.9782 | +0.480% | $495K | $510K | 50x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 2.9720 | +0.270% | $1.2M | $2.2M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0232% | 1h | 2.9760 | +0.405% | $62K | $88K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0432% / S −0.0367% | 1h | 2.9763 | +0.414% | $31K | — | 100x | as long as short |
| Hyperliquid ICP | +0.0919% | 1h | 2.9845 | +0.692% | $4.7M | $5.0M | 5x | 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
Lighter ICP
Kraken Futures PF_ICPUSD
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]
Hyperliquid ICP