ICP Funding Rate — live across 13 venues

Compared across 13 supported venues · net of estimated fees · updated every few minutes

Live annualized ICP perpetual funding across all 13 venues Perpia tracks. Right now ICP funding is positive on 13 and negative on 0, ranging from +10.9% on OKX to +0.3% on Variational — a spread of 10.7%. The widest delta-neutral trade is long Variational / short Lighter at 7.4% net APR.

venues

paying positive

10.7%

funding spread

Best ICP spread now

7.4%

net APR after fees

Long Variational→Short Lighter

size depends on live venue depth — see the real cap in the scanner

ICP funding trend & liquidity

168h of history

10.3%

current gross APR

-1.4%

24h average

4.5%

7-day average

$57K

pair OI · lower leg

$180K

24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

ICP funding rate history

30d · 6h buckets · 12 venues

165%0-60.7%

6 Aug5 Sep

ICP — average across 12 venuesAsterExtendedHyperliquidPacifica

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +10.3%. A break in a line means no data was recorded for that stretch, not a zero rate.

ICP funding rate by venue

12 pairs scanned

Venue	Funding APR	Interval
OKX ↗	+10.9%	8h
Gate.io ↗	+10.9%	8h
BingX ↗	+10.9%	8h
Aster ↗	+10.9%	1h
KuCoin ↗	+10.9%	8h
Bitget ↗	+10.9%	8h
Bybit ↗	+10.9%	8h
Hyperliquid ↗	+10.9%	1h
Lighter ↗	+10.5%	8h
Binance ↗	+7.1%	8h
Extended ↗	+7.0%	1h
MEXC ↗	+6.9%	8h
Variational ↗	+0.3%	8h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Variational vs Lighter page.

ICP arbitrage — 30-day backtest

long Variational · short Lighter

6.3%

backtested APR

+$52

historical net P&L on $10,000

0.11%

max drawdown

$10,000$10,052

30 days agostarting capital $10,000today

Over the last 30 days, holding long Variational / short Lighter would have produced 6.3% APR — versus the 7.4% the live spread implies right now (equity $10,000 → $10,052). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

Loading ICP backtest…

ICP funding — FAQ

Is ICP funding positive right now?

ICP perpetual funding is positive on 13 of 13 venues Perpia tracks. The highest is +10.9% on OKX; the lowest is +0.3% on Variational.

What is the best ICP funding arbitrage right now?

Go long Variational and short Lighter for about 7.4% net APR after fees — the widest delta-neutral ICP spread Perpia currently sees.

Which exchange has the highest ICP funding rate?

OKX, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.

How ICP funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to ICP

Markets also quoted on both Lighter and Variational — the same two exchanges you would already have funded for the ICP trade.

See every spread between them on the Lighter vs Variational page.

Open the live scanner →All funding rates Funding by exchange How we calculate this