diff --git a/functional/tests/network/v2/test_floating_ip.py b/functional/tests/network/v2/test_floating_ip.py
new file mode 100644
index 0000000000..f9ecd92823
--- /dev/null
+++ b/functional/tests/network/v2/test_floating_ip.py
@@ -0,0 +1,58 @@
+#    Licensed under the Apache License, Version 2.0 (the "License"); you may
+#    not use this file except in compliance with the License. You may obtain
+#    a copy of the License at
+#
+#         http://www.apache.org/licenses/LICENSE-2.0
+#
+#    Unless required by applicable law or agreed to in writing, software
+#    distributed under the License is distributed on an "AS IS" BASIS, WITHOUT
+#    WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied. See the
+#    License for the specific language governing permissions and limitations
+#    under the License.
+
+import uuid
+
+from functional.common import test
+
+
+class FloatingIpTests(test.TestCase):
+    """Functional tests for floating ip. """
+    SUBNET_NAME = uuid.uuid4().hex
+    NETWORK_NAME = uuid.uuid4().hex
+    ID = None
+    HEADERS = ['ID']
+    FIELDS = ['id']
+
+    @classmethod
+    def setUpClass(cls):
+        # Create a network for the floating ip.
+        cls.openstack('network create --external ' + cls.NETWORK_NAME)
+        # Create a subnet for the network.
+        cls.openstack(
+            'subnet create --network ' + cls.NETWORK_NAME +
+            ' --subnet-range 10.10.10.0/24 ' +
+            cls.SUBNET_NAME
+        )
+        opts = cls.get_show_opts(cls.FIELDS)
+        raw_output = cls.openstack(
+            'ip floating create ' + cls.NETWORK_NAME + opts)
+        cls.ID = raw_output.strip('\n')
+
+    @classmethod
+    def tearDownClass(cls):
+        raw_output = cls.openstack('ip floating delete ' + cls.ID)
+        cls.assertOutput('', raw_output)
+        raw_output = cls.openstack('subnet delete ' + cls.SUBNET_NAME)
+        cls.assertOutput('', raw_output)
+        raw_output = cls.openstack('network delete ' + cls.NETWORK_NAME)
+        cls.assertOutput('', raw_output)
+
+    def test_floating_ip_list(self):
+        opts = self.get_list_opts(self.HEADERS)
+        raw_output = self.openstack('ip floating list' + opts)
+        self.assertIn(self.ID, raw_output)
+
+    def test_floating_ip_show(self):
+        opts = self.get_show_opts(self.FIELDS)
+        raw_output = self.openstack('ip floating show ' + self.ID + opts)
+        self.assertEqual(self.ID + "\n", raw_output)