PerpEquities

Equity · Financial services

Intercontinental Exchange (ICE) perpetual futures

ICE perpetual futures on 2 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade ICEUSDT.

Intercontinental Exchange operates global regulated exchanges, clearing houses, and listing platforms across commodities, financials, fixed income, and equities.

$175.60+2.3%NYSE closed
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venue perp mark · MEXC (ICE/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

2/2 live markets
Venues
2
Live markets
2/2
24h volume
$121.6K
Open interest
$171.6K
Best liquidity
$1.5K
Hyperliquid HIP-3
Tightest spread
+40.9 bps
Hyperliquid HIP-3
Highest volume
$100.7K
MEXC
Settlement mix
USDC · 1/2
Perp/spot vol.
0.00x
Spot volume $270.6M
OI / float
0.00%
Float $97.5B
Spot performance
1D+1.71%
5D+4.30%
1M+15.78%
6M+11.13%
YTD+7.34%
1Y+18.28%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
MEXCTradeICE/USDTTrading$175.06-14.9% APR
-0.014% every 8h
+302.3 bps$0$100.7K$59.3KUSDT20x
Hyperliquid HIP-3Tradexyz:ICETrading$175.60+314.1% APR
+0.036% every 1h
+40.9 bps$1.5K$20.9K$112.2KUSDC10x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

No sufficient depth · 0 of 2 venues absorb $10k

Too thin: Hyperliquid HIP-3

No fresh book data: MEXC

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Funding history

Stored venue snapshots by market

Company financials

Financials at a glance

Last report Q3 '26 · filed 2026-10-29 · next report 2027-02-04 · Updated 75h ago
All financials →

Valuation & key figures

Market cap
$94.4B
Updated 75h ago
Revenue
$13.1B
Trailing 12 months
Revenue growth
-12%
Next fiscal year
Profit margin
+31.7%
P/E
22.9
Peer P/E 21.9
P/S
7.2
Peer P/E
21.9
Similar listed perps
Free cash flow
$5B
Trailing 12 months
Net income
$4.2B
Trailing 12 months
Revenue estimate
$11.1B
Next fiscal year
Earnings
2027-02-04
Revenue est. $2.7B · Updated 75h ago
Dividend
$0.52
2026-12-16
Revenue (TTM)$13.1B+4.6% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)43.3%+5.2 pp vs a year agoOperating income $5.67B
Net income (TTM)$4.15B+31.3% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$5.05B+14.4% vs a year agoCapex $714M
Diluted EPS (TTM)$7.33+33.5% vs a year agoSum of the last 4 quarters
Net cash-$23.1B-33.2% vs a year agoCash + short-term investments - debt
  • Last report (2026-10-29): revenue beat by 32.3%, EPS beat by 2.5%Revenue $3.63B vs $2.74B expected (+32.3%); EPS $2.02 vs $1.97 (+2.5%).
  • Revenue growth accelerating: 20.7% year on yearQ3 '26 revenue $3.63B, against an average of -0.5% over the four quarters before.
  • Operating margin 43.3% (TTM), +5.2 pp on a year agoOperating income grew 18.9% while revenue grew 4.6%.
  • Capex 5.4% of revenue (a year ago 3.9%)$714M invested in the last 4 quarters (+47.8% on a year earlier). Free cash flow $5.05B = 121.6% of net income.

Revenue, operating income and growth

quarterly

Segments in Q3 '26

from the filing
SegmentRevenuey/yOp. incomeMargin
Exchanges Segment$2.41B+29.3%$1.15B47.9%
Fixed Income And Data Services Segment$674M+9.1%$245M36.4%
Mortgage Technology Segment$549M+4.0%$13M2.4%
In the full financialsIncome statement, balance sheet and cash flow (12 quarters / 10 years) · margins and cost structure · capital allocation and buybacks · valuation against the 5-year range · analyst estimates · all 309 lines Intercontinental Exchange, Inc. reported to the SEC

Next catalyst

Catalysts

Earnings
2027-02-04
Revenue est. $2.7B · Updated 75h ago
Dividend
$0.52
2026-12-16

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20268.19$11.1B-12%8
FY 20278.94$11.9B-6%9
FY 202810.03$12.7B0%4
FY 202911.38$13.5B+7%1
FY 203013.30$14.3B+13%1
Q1 20272.23$2.9B-20%7

Company events

6
2027-02-04EarningsActual - / Estimate 1.95-
2026-12-16Dividend$0.52-
2026-10-29Earnings · Before market openActual 2.02 / Estimate 1.97Beat
2026-09-16Dividend$0.52-
2026-07-30EarningsActual 1.9 / Estimate 1.84Beat
2026-06-15Dividend$0.52-

Peer comparison

Similar listed perps

Company data

Company intelligence

Updated: Nov 2, 2026, 03:11 PM UTC

Company profile

Sector
Financial Services
Industry
Financial - Data & Stock Exchanges
Chief executive
Jeffrey C. Sprecher
Employees
12,844
IPO date
Nov 16, 2005
Country
US
Exchange
New York Stock Exchange
Website
Altman Z-scorei0.76
Piotroski scorei7/9
Overall ratingiB-
Owner earningsi$1.18B$2.09 per share
ESG risk ratingiBIndustry rank: 13 out of 14

Rating factors

Return on equityi
4
Return on assetsi
4
Debt to equityi
2
Price to earningsi
1
Price to booki
1
Market cap history
$94.72B+10.6%Aug 26 – Oct 26
$84.90B$89.81B$94.72BLow: $84.90B · 2026-08-10Latest: $94.72B · 2026-10-30Aug 26Sep 26Oct 26
Latest: $94.72B · 2026-10-30High: $94.72B · 2026-10-30Low: $84.90B · 2026-08-10
Largest fund holders
FundWeightShares held
VTI0.12%17.8M
VOO0.13%14.7M
VCPA.S0.16%7.9M
IVV0.15%7.5M
XSP.TO0.14%7.5M
SPY0.14%6.8M
FXAIX0.13%6.6M
VTV0.32%5.3M
VSCA.S0.15%4.6M
VEIPX0.94%4M
XLF1.14%3.8M
VIG0.38%3.2M

Analyst track record

How the analysts covering ICE have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings84274
Analysts1720
Buy / hold / sell71 / 10 / 3232 / 39 / 3
Upgrades / downgrades / initiations1 / 1 / 24 / 2 / 3
Price targets hit / missed5 / 79 (6%)65 / 199 (25%)
Avg. return after a rating (TipRanks)-13.2%-8.5%
Best / worst call+6.6% / -35.0%+31.5% / -35.0%

After buy calls on this stock: median 21-day move +1.0% vs S&P 500 -1.5% (n = 239)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Patrick MoleyPiper Sandler79% hit rate on this stock · 14 targets measuredBuytarget $195Oct 30, 2026
  2. Christopher AllenKBW78% hit rate on this stock · 9 targets measuredBuytarget $190Oct 30, 2026
  3. William KatzTD Cowen75% hit rate on this stock · 8 targets measuredHoldtarget $182Oct 30, 2026

Latest ratings

DateAnalystCallTarget
Nov 2, 2026Craig SiegenthalerBank of America SecuritiesBuyReiterated$245
Oct 29, 2026Ashish SabadraRBC CapitalBuyMaintained$180
Oct 30, 2026Christopher AllenKBWBuyMaintained$190
Oct 30, 2026Patrick MoleyPiper SandlerBuyReiterated$195
Oct 30, 2026Daniel WeldenWells FargoSellReiterated$167
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$120$140$160$180$200Dec 25 · Buy 11 · Hold 1 · Sell 0Dec 25Jan 26 · Buy 9 · Hold 1 · Sell 0Feb 26 · Buy 9 · Hold 1 · Sell 0Feb 26Mar 26 · Buy 11 · Hold 1 · Sell 0Apr 26 · Buy 10 · Hold 1 · Sell 0Apr 26May 26 · Buy 11 · Hold 1 · Sell 0Jun 26 · Buy 12 · Hold 1 · Sell 0Jun 26Jul 26 · Buy 12 · Hold 1 · Sell 0Aug 26 · Buy 13 · Hold 1 · Sell 0Aug 26Sep 26 · Buy 13 · Hold 1 · Sell 0Oct 26 · Buy 12 · Hold 2 · Sell 2Oct 26Nov 26 · Buy 12 · Hold 2 · Sell 2Dec 25 · avg. target $194Jan 26 · avg. target $193Feb 26 · avg. target $198Mar 26 · avg. target $198Apr 26 · avg. target $198May 26 · avg. target $199Jun 26 · avg. target $193Jul 26 · avg. target $186Aug 26 · avg. target $186Sep 26 · avg. target $186Oct 26 · avg. target $187Nov 26 · avg. target $187Dec 25 · month-end close $162Jan 26 · month-end close $174Feb 26 · month-end close $164Mar 26 · month-end close $157Apr 26 · month-end close $158May 26 · month-end close $148Jun 26 · month-end close $123Jul 26 · month-end close $152Aug 26 · month-end close $161Sep 26 · month-end close $152Oct 26 · month-end close $169Nov 26 · month-end close $169

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data · computed Nov 3, 2026 · 84 ratings

Frequently asked questions

Where can I trade ICE perpetual futures?

Intercontinental Exchange (ICE) perpetual futures trade on 2 crypto venues, including MEXC, Hyperliquid HIP-3. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade ICE around the clock?

Yes. Unlike the underlying stock, ICE perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on ICE perpetuals?

Right now the ICE perp funding rate is +149.6% annualized (venue median), ranging from -14.9% to +314.1% across 2 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the ICE perp price compare to the Intercontinental Exchange stock?

The venue-median ICE perp mark is $175.3 versus a reference stock price of $175.6, a basis of -0.2%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a ICE perpetual future?

A ICE perpetual is a derivative that tracks the price of Intercontinental Exchange with no expiry date. It lets you take long or short exposure to Intercontinental Exchange on crypto venues, around the clock.

What is ICEUSDT perpetual?

ICEUSDT is the symbol most crypto exchanges use for the Intercontinental Exchange perpetual settled in USDT (Tether). It tracks the ICE share price through an index, trades 24/7 with leverage and never expires.

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