ICP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0821%/8h= −89.9% APRnext payment −$1.03 per $10,000 · paid last 24h −0.121%

Price spread now: Injective against Hyperliquid−1.054%7-day average +0.800% · you buy dearer than you sell

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

Long on Hyperliquid Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.237%−$24 on $10k

Price spread, last 3 days (all we have)+1.118%+$112 · spread now −1.054%, 7d avg +0.800%

Together, before fees+0.882%+ Points / potential airdropHyperliquid: Season 2 · farm board+$88 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Injective is 1.854% cheaper against Hyperliquid than usual: you would sell low and buy high (−$185 if the spread goes back to its 7-day average of +0.800%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.237% in total (about -12.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.03 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	2.9981	0.0669	pay 0.0084% / 1h	32m 34s	$4.8M	$5.0M	5x
Short	Injective ICP/USDC PERP	2.9665	−0.0152	pay 0.0019% / 1h	32m 34s	$202	$200K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 HyperliquidbpFee InjectivebpOrdersPrice spread, now −1.054%Rate

Funding earned: −$172.34
Price spread: −1.054% → +0.800%: −$185.37
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$366.74
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 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 Hyperliquid live order book, 9 min ago	2.17 bp	8.6 bp −$9	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 ICPUSDT	−0.1343%	8h	2.9790	−0.637%	$1.7M	$775K	50x	as long as short
Variational Omni ICP	−0.0182%	8h	2.9972	−0.032%	$1.1M	$121K	—	as long as short
Injective ICP/USDC PERPshort	−0.0152%	1h	2.9665	−1.054%	$202	$200K	12x
Gate ICP_USDT	−0.0090%	8h	2.9910	−0.237%	$1.9M	$2.8M	50x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0017%	1h	2.9934	−0.157%	$267	$464	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9961	−0.067%	$70K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	2.9946	−0.117%	$27K	—	150x	as long as short
Bybit ICPUSDT	+0.0092%	8h	2.9910	−0.237%	$17.4M	$17.9M	75x	as long as short
Lighter ICP	+0.0096%	1h	2.9967	−0.047%	$166K	$443K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9965	−0.052%	$200K	$1.4M	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ICP	+0.0100%	1h	2.9938	−0.144%	$136K	$11K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9930	−0.169%	$29.8M	$49.8M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9900	−0.270%	$5.9M	$16.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9930	−0.170%	$19.0M	$8.6M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9920	−0.203%	$5.1M	$13.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9910	−0.237%	$6.9M	$4.5M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9930	−0.170%	—	$4.9M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9966	−0.050%	$23K	$278K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9955	−0.088%	$573K	$469K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9930	−0.170%	$2K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9930	−0.170%	$106K	$219K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9924	−0.189%	$25K	$124K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9950	−0.103%	$1.2M	$2.3M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0223%	1h	2.9959	−0.073%	$488K	$526K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0240%	1h	2.9980	−0.003%	$63K	$91K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0505% / S −0.0480%	1h	2.9937	−0.148%	$37K	—	100x	as long as short
Hyperliquid ICPlong	+0.0669%	1h	2.9981	long leg	$4.8M	$5.0M	5x