Funding you earn now, next payment 23:00 UTC−0.1160%/8h= −127.1% APRnext payment −$1.45 per $10,000 · paid last 24h −0.010%
Price spread now: Backpack against ApeX Omni+0.218%7-day average +0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs+$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$550.548% of the position
Funding, last 7 days+0.774%+$77 on $10k
+Price spread, last 3 days (all we have)−0.321%−$32 · spread now +0.218%, 7d avg +0.019%
=The price spread pays, funding is against you. Backpack is 0.200% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.218% now, against its 7-day average of +0.019%): +$20 on $10k if it goes back. Holding the pair costs −$35 a day in funding at the current rate, which eats that in about 14 hours. Mind the row above: over the last 7 days funding on this pair paid +0.774%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.774% in total (about 40.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.45 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 | ApeX Omni CHIPUSDT | 0.04577 | −0.0109 | get 0.0014% / 1h | 39m 06s | $14K | $248K | 50x |
| Short | Backpack CHIP_USDC_PERP | 0.04587 | −0.1270 | pay 0.0159% / 1h | 39m 06s | $16K | $234K | 5x |
ApeX Omni CHIPUSDT
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against ApeX Omni. 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
- −$243.68
- Price spread: +0.218% → +0.019%
- $19.98
- Slippage, 4 orders
- −$34.82
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$278.51
- Costs to cover
- 0.548%
- Break-even
- never at this rate
Slippage from ApeX Omni: live order book, 42 min ago; Backpack: live order book, 44 min ago.
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 ApeX Omni live order book, 42 min ago | 6.52 bp | 14.1 bp −$14 | 122.3 bp −$1,223 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 44 min ago | 2.17 bp | 13.0 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
CHIP on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CHIP_USDC_PERPshort | −0.1270% | 1h | 0.04587 | +0.218% | $16K | $234K | 5x | |
| Phoenix CHIP | −0.0352% | 1h | 0.04581 | +0.087% | $3K | $143K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0226% | 4h | 0.04587 | +0.218% | $1.9M | $9.1M | 20x | as long as short |
| Aftermath Perps CHIPUSD | −0.0203% | 1h | 0.04584 | +0.143% | $148 | $39K | 5x | as long as short |
| Nado CHIP-PERP | −0.0162% | 1h | 0.04589 | +0.262% | $230K | $18K | 5x | as long as short |
| Extended CHIP-USD | −0.0120% | 1h | 0.04588 | +0.234% | $209K | $1.3M | 5x | as long as short |
| Binance CHIPUSDT | −0.0116% | 4h | 0.04585 | +0.175% | $13.8M | $25.9M | 50x | as long as short |
| MEXC CHIP_USDT | −0.0116% | 4h | 0.04586 | +0.197% | $1.8M | $1.2M | 50x | as long as short |
| ApeX Omni CHIPUSDTlong | −0.0109% | 1h | 0.04577 | long leg | $14K | $248K | 50x | |
| BloFin CHIP-USDT | −0.0094% | 4h | 0.04583 | +0.131% | $539K | $67K | 50x | as long as short |
Phoenix CHIP
OKX CHIP-USDT-SWAP
Aftermath Perps CHIPUSD
Nado CHIP-PERP
Extended CHIP-USD
Binance CHIPUSDT
MEXC CHIP_USDT
BloFin CHIP-USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CHIPUSDT | −0.0049% | 4h | 0.04588 | +0.240% | $10.7M | $8.9M | 20x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04592 | +0.332% | $10K | $25K | 10x | as long as short |
| Aster CHIPUSDT | +0.0041% | 4h | 0.04588 | +0.246% | $47K | $229K | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04589 | +0.262% | $85K | $109K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04593 | +0.339% | $14.5M | $6.8M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04589 | +0.251% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04589 | +0.262% | $679K | $902K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04587 | +0.218% | $975K | $1.0M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04589 | +0.262% | $2.0M | $3.1M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04586 | +0.197% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04580 | +0.065% | $844K | $465K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04585 | +0.175% | $977 | $1.1M | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0824% | 1h | 0.04757 | +3.922% | $46K | $41K | 50x | as long as short |
Bybit CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
Aster CHIPUSDT
Lighter CHIP
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Coinbase International CHIP-PERP-INTX