ICP

Alert

Funding spread now, next payment 16:00 UTC−0.1776%/8h

next payment, per $10,000−$2.22paid, last 24h−0.166%paid, last 5 days−0.775%to open and closeno order book

Long on Coinbase International Short on Deribit

The current rate is far above what this pair has been paying: over the last 5 days it paid -0.775% in total (about -61.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.22 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	Coinbase International ICP-PERP-INTX	2.9590	0.0096	pay 0.0012% / 1h	57m 24s	$67K	$119K	50x
Short	Deribit ICP_USDC-PERPETUAL	2.9470	−0.1680	pay 0.0210% / 1h	57m 24s	$263	$366	50x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee DeribitbpOrdersRate

Funding earned: −$372.96
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$389.96
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 52 min ago; Deribit: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.406%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Coinbase International live order book, 52 min ago	10.11 bp	18.4 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Deribit ICP_USDC-PERPETUALshort	−0.1680%	1h	$263	$366	50x
Variational Omni ICP	−0.0353%	8h	$1.0M	$84K	—	as long as short
Bybit ICPUSDT	−0.0115%	8h	$16.5M	$15.4M	75x	as long as short
Kraken Futures PF_ICPUSD	−0.0090%	1h	$508K	$557K	50x	as long as short
OKX ICP-USDT-SWAP	−0.0012%	8h	$5.8M	$15.8M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	$70K	$3K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	$26K	—	150x	as long as short
Extended ICP-USD	+0.0008%	1h	$26K	$133K	10x	as long as short
MEXC ICP_USDT	+0.0011%	8h	$18.5M	$7.0M	50x	as long as short
Binance ICPUSDT	+0.0012%	8h	$28.7M	$47.8M	75x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective ICP/USDC PERP	+0.0033%	1h	$202	$130K	12x	as long as short
BloFin ICP-USDT	+0.0052%	8h	$1.2M	$2.4M	75x	as long as short
Gate ICP_USDT	+0.0080%	8h	$1.8M	$2.0M	50x	as long as short
Lighter ICP	+0.0096%	1h	$144K	$310K	5x	as long as short
Coinbase International ICP-PERP-INTXlong	+0.0096%	1h	$67K	$119K	50x
Aster ICPUSDT	+0.0100%	8h	$183K	$1.9M	20x	as long as short
Pacifica ICP	+0.0100%	1h	$134K	$10K	5x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	$5.0M	$11.4M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	$6.8M	$4.0M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	—	$3.6M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	$23K	$277K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	$2K	$1.8M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	$112K	$286K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	$1.7M	$750K	50x	as long as short
Hyperliquid ICP	+0.0265%	1h	$4.8M	$3.6M	5x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0357% / S −0.0238%	1h	$30K	—	100x	as long as short