ICP

Alert

Funding spread now, next payment 18:00 UTC−0.0421%/8h

paid, last 24h−0.049%paid, last 3 days−0.091%to open and closeno order book

Long on Injective Short on Variational Omni

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.091% in total (about -10.9% a year). A funding rate is set anew for every payment. 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	2.9638	0.0033	pay 0.0004% / 1h	23m 49s	$202	$130K	12x
Short	Variational Omni ICP	2.9217	−0.0388	pay 0.0388% / 8h	6h 23m	$1.1M	$102K	—

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee Variational OmnibpOrdersRate

Funding earned: −$88.49
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$88.51
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: −1.422%
Avg gap 7d: −1.094%

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 Variational Omni RFQ quote, 2 min ago	4.43 bp	doesn't fit	14.3 bp −$143	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
Variational Omni ICPshort	−0.0388%	8h	$1.1M	$102K	—
Bybit ICPUSDT	−0.0364%	8h	$17.0M	$15.6M	75x	as long as short
Gate ICP_USDT	−0.0202%	8h	$1.8M	$2.4M	50x	as long as short
dYdX ICP-USD	0.0000%	1h	$69K	$3K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	$260	$366	50x	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	+0.0032%	1h	$24K	$133K	10x	as long as short
MEXC ICP_USDT	+0.0032%	8h	$18.0M	$7.1M	50x	as long as short
Injective ICP/USDC PERPlong	+0.0033%	1h	$202	$130K	12x
Binance ICPUSDT	+0.0037%	8h	$28.5M	$45.2M	75x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
OKX ICP-USDT-SWAP	+0.0045%	8h	$5.8M	$14.2M	50x	as long as short
Aster ICPUSDT	+0.0094%	8h	$169K	$1.7M	20x	as long as short
Lighter ICP	+0.0096%	1h	$137K	$334K	5x	as long as short
Pacifica ICP	+0.0100%	1h	$132K	$10K	5x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	$5.1M	$11.5M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	$6.8M	$3.8M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	—	$4.2M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	$23K	$275K	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	$111K	$169K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	$1.7M	$800K	50x	as long as short
Coinbase International ICP-PERP-INTX	+0.0120%	1h	$61K	$89K	50x	as long as short
BloFin ICP-USDT	+0.0132%	8h	$1.2M	$2.4M	75x	as long as short
Kraken Futures PF_ICPUSD	+0.0156%	1h	$478K	$539K	50x	as long as short
Hyperliquid ICP	+0.0324%	1h	$4.6M	$3.4M	5x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0372% / S −0.0257%	1h	$31K	—	100x	as long as short