Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.244%
Price spread now: Phemex against Injective+3.017%65s7-day average −0.970% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−2.303%−$230 on $10k
+Price spread, last 3 days (all we have)−3.342%−$334 · spread now +3.017%, 7d avg −0.970%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phemex is 3.987% dearer against Injective than usual: you sell high and buy low: +$399 more if the spread goes back to its 7-day average of −0.970%. Mind the row above: over the last 7 days funding on this pair cost −2.303%, so the current rate has only just turned in your favour. 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 | Injective ICP/USDC PERP | 2.9665 | 0.0033 | pay 0.0004% / 1h | 26m 13s | $202 | $200K | 12x |
| Short | Phemex ICPUSDT | 3.0560 | 0.0100 | get 0.0100% / 8h | 7h 26m | $1.8M | $777K | 50x |
Injective ICP/USDC PERP
Phemex ICPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Injective. 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
- $14
- Price spread: +3.017% → −0.970%
- $398.7
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $400.68
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 2 min ago. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 2 min ago | 1.64 bp | doesn't fit | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ICP_USDC-PERPETUAL | −0.0176% | 1h | 3.0518 | +2.875% | $272 | $464 | 50x | as long as short |
| Kraken Futures PF_ICPUSD | −0.0121% | 1h | 3.0568 | +3.045% | $558K | $598K | 50x | as long as short |
| Variational Omni ICP | −0.0061% | 8h | 3.0500 | +2.815% | $1.1M | $110K | — | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 3.0465 | +2.698% | $71K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0011% | 1h | 3.0524 | +2.895% | $23K | — | 150x | as long as short |
| Injective ICP/USDC PERPlong | +0.0033% | 1h | 2.9665 | long leg | $202 | $200K | 12x | |
| Lighter ICP | +0.0096% | 1h | 3.0555 | +3.000% | $174K | $480K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 3.0520 | +2.883% | $337K | $1.6M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 3.0482 | +2.753% | $138K | $11K | 5x | as long as short |
| Binance ICPUSDT | +0.0100% | 8h | 3.0521 | +2.885% | $30.5M | $52.6M | 75x | as long as short |
Deribit ICP_USDC-PERPETUAL
Kraken Futures PF_ICPUSD
Variational Omni ICP
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Lighter ICP
Aster ICPUSDT
Pacifica ICP
Binance ICPUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ICPUSDT | +0.0100% | 8h | 3.0510 | +2.848% | $18.1M | $18.6M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 3.0490 | +2.781% | $6.2M | $16.9M | 50x | as long as short |
| Gate ICP_USDT | +0.0100% | 8h | 3.0510 | +2.848% | $2.0M | $3.0M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 3.0510 | +2.848% | $19.6M | $9.6M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 3.0510 | +2.848% | $5.1M | $13.4M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 3.0530 | +2.916% | $7.2M | $4.8M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 3.0500 | +2.815% | — | $5.2M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 3.0455 | +2.662% | $24K | $278K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 3.0503 | +2.824% | $579K | $475K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 3.0510 | +2.848% | $1K | $1.8M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 3.0420 | +2.545% | $106K | $239K | 20x | as long as short |
| Phemex ICPUSDTshort | +0.0100% | 8h | 3.0560 | +3.017% | $1.8M | $777K | 50x | |
| Extended ICP-USD | +0.0104% | 1h | 3.0512 | +2.856% | $23K | $143K | 10x | as long as short |
| Hyperliquid ICP | +0.0171% | 1h | 3.0560 | +3.017% | $4.8M | $4.9M | 5x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 3.0430 | +2.579% | $1.3M | $2.4M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0280% | 1h | 3.0480 | +2.747% | $63K | $65K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0511% / S −0.0480% | 1h | 3.0528 | +2.910% | $38K | — | 100x | as long as short |
Bybit ICPUSDT
OKX ICP-USDT-SWAP
Gate ICP_USDT
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
Hyperliquid ICP
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]