ICP

Alert

Funding spread now, next payment 20:00 UTC+0.1411%/8h

next payment, per $10,000+$1.76paid, last 24h+0.097%paid, last 7 days+0.215%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.215% in total (about 11.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.76 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	2.8925	−0.0291	get 0.0036% / 1h	58m 31s	$197	$57K	12x
Short	Hyperliquid ICP	2.9215	0.1120	get 0.0140% / 1h	58m 31s	$5.0M	$4.4M	5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee HyperliquidbpOrdersRate

Funding earned: $296.31
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $287.29
Break-even: 0.2 days

Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 5 min ago. Net counts fees only.

Price risk

price view

Price gap now: +1.003%
Avg gap 7d: −0.860%

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 Injective no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 5 min ago	0.68 bp	6.5 bp −$7	doesn't fit	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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_ICPUSD	−0.0487%	1h	$482K	$546K	50x	as long as short
Variational Omni ICP	−0.0360%	8h	$1.0M	$116K	—	as long as short
Injective ICP/USDC PERPlong	−0.0291%	1h	$197	$57K	12x
Bybit ICPUSDT	−0.0232%	8h	$16.5M	$16.6M	75x	as long as short
Deribit ICP_USDC-PERPETUAL	−0.0230%	1h	$260	$464	50x	as long as short
Gate ICP_USDT	−0.0217%	8h	$1.8M	$2.6M	50x	as long as short
Phemex ICPUSDT	−0.0059%	8h	$1.7M	$799K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	$68K	$4K	5x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0010%	1h	$26K	—	150x	as long as short
OKX ICP-USDT-SWAP	+0.0071%	8h	$5.7M	$15.2M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter ICP	+0.0096%	1h	$196K	$366K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	$192K	$1.8M	20x	as long as short
Pacifica ICP	+0.0100%	1h	$132K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	$28.2M	$47.5M	75x	as long as short
MEXC ICP_USDT	+0.0100%	8h	$18.8M	$7.4M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	$5.1M	$12.0M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	$6.7M	$4.2M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	—	$4.6M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	$23K	$277K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	$2K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	$104K	$219K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	$24K	$133K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	$1.2M	$2.3M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0280%	1h	$62K	$84K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0375% / S −0.0271%	1h	$30K	—	100x	as long as short
Hyperliquid ICPshort	+0.1120%	1h	$5.0M	$4.4M	5x