ICP

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0347%/8h= +38.0% APRnext payment +$0.43 per $10,000 · paid last 24h +0.015%

Price spread now: Injective against Kraken Futures+0.572%7-day average +0.692% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.212%+$21 on $10k

Price spread, last 4 days (all we have)−0.392%−$39 · spread now +0.572%, 7d avg +0.692%

Together, before fees−0.180%−$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.120% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.572% now, against its 7-day average of +0.692%). If the spread goes back, that is −$12 on $10k: about 28 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.212% in total) that is about 4.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.212% in total (about 11.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 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	Kraken Futures PF_ICPUSD	2.9496	−0.0314	get 0.0039% / 1h	44m 57s	$523K	$663K	50x
Short	Injective ICP/USDC PERP	2.9665	0.0033	get 0.0004% / 1h	44m 57s	$202	$200K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee InjectivebpOrdersPrice spread, now +0.572%Rate

Funding earned: $72.94
Price spread: +0.572% → +0.692%: −$12.01
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $50.91
Costs to cover: 0.100%
Break-even: 2.1 days

Slippage unknown: Kraken Futures: live order book, 63 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 Kraken Futures live order book, 63 min ago	6.82 bp	19.0 bp −$19	39.5 bp −$395	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
Kraken Futures PF_ICPUSDlong	−0.0314%	1h	2.9496	long leg	$523K	$663K	50x
Phemex ICPUSDT	−0.0107%	8h	2.9470	−0.089%	$1.8M	$677K	50x	as long as short
dYdX ICP-USD	0.0000%	1h	2.9415	−0.277%	$68K	$3K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9469	−0.093%	$192	$439	50x	as long as short
gTrade (Gains Network) ICP/USD	L +0.0006% / S −0.0002%	1h	2.9470	−0.089%	$10K	—	150x	as long as short
Variational Omni ICP	+0.0029%	8h	2.9370	−0.429%	$1.0M	$133K	—	as long as short
Injective ICP/USDC PERPshort	+0.0033%	1h	2.9665	+0.572%	$202	$200K	12x
Lighter ICP	+0.0096%	1h	2.9476	−0.069%	$139K	$495K	5x	as long as short
Hyperliquid ICP	+0.0100%	1h	2.9487	−0.032%	$4.5M	$4.8M	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9445	−0.174%	$261K	$1.1M	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ICP	+0.0100%	1h	2.9409	−0.295%	$133K	$9K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9440	−0.191%	$28.8M	$48.9M	75x	as long as short
Bybit ICPUSDT	+0.0100%	8h	2.9420	−0.259%	$17.2M	$18.0M	75x	as long as short
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9430	−0.225%	$5.7M	$15.0M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9430	−0.225%	$1.9M	$2.8M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9440	−0.191%	$18.8M	$9.9M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9440	−0.191%	$4.8M	$12.1M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9460	−0.123%	$7.0M	$4.7M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9430	−0.225%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9434	−0.211%	$23K	$280K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9429	−0.230%	$562K	$537K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9460	−0.123%	$1K	$1.5M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9440	−0.191%	$103K	$112K	20x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9438	−0.197%	$23K	$127K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9410	−0.293%	$1.2M	$2.4M	75x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9440	−0.191%	$57K	$70K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0410% / S −0.0331%	1h	2.9473	−0.080%	$29K	—	100x	as long as short