ICP

Alert

Funding spread now, next payment 15:00 UTC−0.0340%/8h

next payment, per $10,000−$0.43paid, last 24h−0.077%paid, last 5 days+0.100%to open and close $10k−$67

Long on Hyperliquid Short on Coinbase International

The current rate is far above what this pair has been paying: over the last 5 days it paid 0.100% in total (about 7.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.43 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	Hyperliquid ICP	2.9540	0.0436	pay 0.0055% / 1h	12m 58s	$4.8M	$3.7M	5x
Short	Coinbase International ICP-PERP-INTX	2.9560	0.0096	get 0.0012% / 1h	12m 58s	$67K	$120K	50x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Coinbase InternationalbpOrdersRate

Funding earned: −$71.42
Slippage, 4 orders: −$48.17
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$138.59
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Coinbase International: live order book, 36 min ago.

Price risk

price view

Price gap now: +0.068%
Avg gap 7d: +0.126%

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 Hyperliquid live order book, 10 min ago	1.53 bp	11.7 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 36 min ago	10.11 bp	28.3 bp −$28	doesn't fit	doesn't fit	doesn't fit

ICP on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_ICPUSD	−0.0670%	1h	$508K	$558K	50x	as long as short
Phemex ICPUSDT	−0.0622%	8h	$1.7M	$752K	50x	as long as short
Variational Omni ICP	−0.0369%	8h	$1.0M	$83K	—	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0326%	1h	$263	$366	50x	as long as short
Bybit ICPUSDT	−0.0178%	8h	$16.5M	$15.4M	75x	as long as short
OKX ICP-USDT-SWAP	−0.0016%	8h	$5.8M	$15.9M	50x	as long as short
Gate ICP_USDT	−0.0006%	8h	$1.8M	$2.3M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	$70K	$3K	5x	as long as short
Extended ICP-USD	0.0000%	1h	$26K	$133K	10x	as long as short
MEXC ICP_USDT	+0.0001%	8h	$18.5M	$7.4M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Binance ICPUSDT	+0.0004%	8h	$28.6M	$47.8M	75x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	$26K	—	150x	as long as short
Injective ICP/USDC PERP	+0.0033%	1h	$202	$164K	12x	as long as short
BloFin ICP-USDT	+0.0057%	8h	$1.2M	$2.4M	75x	as long as short
Lighter ICP	+0.0096%	1h	$144K	$321K	5x	as long as short
Coinbase International ICP-PERP-INTXshort	+0.0096%	1h	$67K	$120K	50x
Aster ICPUSDT	+0.0100%	8h	$176K	$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	$11.3M	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	$285K	20x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0356% / S −0.0238%	1h	$30K	—	100x	as long as short
Hyperliquid ICPlong	+0.0436%	1h	$4.8M	$3.7M	5x