Funding you earn now, next payment 08:00 UTC+0.0294%/8h= +32.1% APRpaid last 24h +0.244%
Price spread now: Injective against Phemex+0.662%7-day average +0.887% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+2.304%+$230 on $10k
+Price spread, last 4 days (all we have)−0.330%−$33 · spread now +0.662%, 7d avg +0.887%
=Funding pays, the price is against you. Injective is 0.225% cheaper against Phemex than usual: you would sell low and buy high (spread +0.662% now, against its 7-day average of +0.887%). If the spread goes back, that is −$23 on $10k: about 2.6 days of funding at the current rate (+$9 a day). At the pace of the last 7 days (+2.304% in total) that is about 16 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ICPUSDT | 2.9470 | −0.0260 | get 0.0260% / 8h | 12m 28s | $1.8M | $686K | 50x |
| Short | Injective ICP/USDC PERP | 2.9665 | 0.0033 | get 0.0004% / 1h | 12m 28s | $202 | $200K | 12x |
Phemex ICPUSDT
Injective ICP/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Phemex. 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
- $61.65
- Price spread: +0.662% → +0.887%
- −$22.52
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $27.11
- Costs to cover
- 0.120%
- Break-even
- 3.9 days
Slippage unknown: Phemex: live order book, 1 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 Phemex live order book, 1 min ago | 1.70 bp | doesn't fit | 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 ICPUSDTlong | −0.0260% | 8h | 2.9470 | long leg | $1.8M | $686K | 50x | |
| Kraken Futures PF_ICPUSD | −0.0211% | 1h | 2.9513 | +0.147% | $522K | $661K | 50x | as long as short |
| Variational Omni ICP | −0.0152% | 8h | 2.9460 | −0.032% | $1.0M | $135K | — | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 2.9491 | +0.073% | $69K | $3K | 5x | as long as short |
| Deribit ICP_USDC-PERPETUAL | 0.0000% | 1h | 2.9476 | +0.020% | $192 | $439 | 50x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0004% | 1h | 2.9484 | +0.048% | $6K | — | 150x | as long as short |
| Injective ICP/USDC PERPshort | +0.0033% | 1h | 2.9665 | +0.662% | $202 | $200K | 12x | |
| Bybit ICPUSDT | +0.0054% | 8h | 2.9470 | 0.000% | $17.1M | $17.9M | 75x | as long as short |
| Lighter ICP | +0.0096% | 1h | 2.9496 | +0.088% | $138K | $489K | 5x | as long as short |
| Hyperliquid ICP | +0.0100% | 1h | 2.9512 | +0.143% | $4.5M | $4.6M | 5x | as long as short |
Kraken Futures PF_ICPUSD
Variational Omni ICP
dYdX ICP-USD
Deribit ICP_USDC-PERPETUAL
gTrade (Gains Network) ICP/USD
Bybit ICPUSDT
Lighter ICP
Hyperliquid ICPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster ICPUSDT | +0.0100% | 8h | 2.9494 | +0.083% | $271K | $1.0M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 2.9498 | +0.093% | $133K | $9K | 5x | as long as short |
| Binance ICPUSDT | +0.0100% | 8h | 2.9482 | +0.039% | $28.7M | $47.7M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9470 | 0.000% | $5.7M | $14.2M | 50x | as long as short |
| Gate ICP_USDT | +0.0100% | 8h | 2.9460 | −0.034% | $1.9M | $2.9M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 2.9490 | +0.068% | $19.2M | $9.9M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 2.9490 | +0.068% | $4.9M | $11.5M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 2.9490 | +0.068% | $7.0M | $4.5M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 2.9470 | 0.000% | — | $5.6M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 2.9472 | +0.007% | $23K | $280K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 2.9459 | −0.037% | $559K | $576K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 2.9470 | 0.000% | $2K | $1.5M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9440 | −0.102% | $103K | $115K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 2.9474 | +0.013% | $26K | $238K | 10x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 2.9480 | +0.034% | $1.2M | $2.4M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0376% | 1h | 2.9750 | +0.950% | $58K | $69K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0456% / S −0.0403% | 1h | 2.9472 | +0.008% | $32K | — | 100x | as long as short |
Aster ICPUSDT
Pacifica ICP
Binance 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
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]