Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.244%
Price spread now: Phemex against Injective−1.770%65s7-day average −0.896% · you buy dearer than you sell
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)+1.377%+$138 · spread now −1.770%, 7d avg −0.896%
=Funding pays, the price is against you. Phemex is 0.874% cheaper against Injective than usual: you would sell low and buy high (spread −1.770% now, against its 7-day average of −0.896%). If the spread goes back, that is −$87 on $10k: about 44 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −2.304%, 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 | 29m 56s | $202 | $200K | 12x |
| Short | Phemex ICPUSDT | 2.9140 | 0.0100 | get 0.0100% / 8h | 2h 29m | $1.7M | $706K | 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: −1.770% → −0.896%
- −$87.4
- 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
- −$85.42
- Costs to cover
- 0.120%
- Break-even
- 49.7 days
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 3 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, 3 min ago | 1.72 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 | −0.0231% | 1h | 2.9113 | −1.861% | $189 | $439 | 50x | as long as short |
| Kraken Futures PF_ICPUSD | −0.0069% | 1h | 2.9125 | −1.820% | $482K | $646K | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 2.9101 | −1.901% | $68K | $3K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0002% | 1h | 2.9123 | −1.827% | $10K | — | 150x | as long as short |
| Injective ICP/USDC PERPlong | +0.0033% | 1h | 2.9665 | long leg | $202 | $200K | 12x | |
| Variational Omni ICP | +0.0057% | 8h | 2.9031 | −2.139% | $1.0M | $133K | — | as long as short |
| Lighter ICP | +0.0096% | 1h | 2.9125 | −1.820% | $141K | $493K | 5x | as long as short |
| Hyperliquid ICP | +0.0100% | 1h | 2.9163 | −1.692% | $4.5M | $4.8M | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 2.9140 | −1.769% | $261K | $1.3M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 2.9118 | −1.842% | $132K | $10K | 5x | as long as short |
Deribit ICP_USDC-PERPETUAL
Kraken Futures PF_ICPUSD
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Variational Omni ICP
Lighter ICP
Hyperliquid ICP
Aster ICPUSDT
Pacifica ICPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ICPUSDT | +0.0100% | 8h | 2.9120 | −1.837% | $28.5M | $48.7M | 75x | as long as short |
| Bybit ICPUSDT | +0.0100% | 8h | 2.9100 | −1.905% | $17.0M | $17.9M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9120 | −1.837% | $5.6M | $14.8M | 50x | as long as short |
| Gate ICP_USDT | +0.0100% | 8h | 2.9100 | −1.905% | $1.8M | $2.8M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 2.9120 | −1.837% | $17.9M | $9.9M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 2.9120 | −1.837% | $4.8M | $12.3M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 2.9140 | −1.770% | $6.9M | $4.6M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 2.9120 | −1.837% | — | $5.8M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 2.9072 | −1.998% | $23K | $280K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 2.9066 | −2.020% | $559K | $499K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 2.9100 | −1.905% | $2K | $1.5M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9110 | −1.871% | $102K | $117K | 20x | as long as short |
| Phemex ICPUSDTshort | +0.0100% | 8h | 2.9140 | −1.770% | $1.7M | $706K | 50x | |
| Extended ICP-USD | +0.0104% | 1h | 2.9113 | −1.862% | $23K | $134K | 10x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 2.9040 | −2.107% | $1.2M | $2.4M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0336% | 1h | 2.9260 | −1.365% | $57K | $69K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0431% / S −0.0367% | 1h | 2.9116 | −1.851% | $30K | — | 100x | as long as short |
Binance ICPUSDT
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
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]