Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0690%/8h= +75.5% APRpaid last 24h +0.060%

Price spread now: Gate against ApeX Omni−0.109%7-day average +0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1111.106% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.414%+$41 on $10k

Price spread, last 3 days (all we have)+0.197%+$20 · spread now −0.109%, 7d avg +0.090%

Together, before fees+0.611%+$61 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.198% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.109% now, against its 7-day average of +0.090%). If the spread goes back, that is −$20 on $10k: about 23 hours of funding at the current rate (+$21 a day). At the pace of the last 7 days (+0.414% in total) that is about 3.4 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.414% in total (about 21.6% a year). A funding rate is set anew for every payment. 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	0.04607	−0.0590	get 0.0074% / 1h	17m 16s	$14K	$248K	50x
Short	Gate CHIP_USDT	0.04602	0.0100	get 0.0050% / 4h	2h 17m	$682K	$903K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 it

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 ApeX OmnibpFee GatebpOrdersPrice spread, now −0.109%Rate

Funding earned: $144.87
Price spread: −0.109% → +0.090%: −$19.82
Slippage, 4 orders: −$85.61
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $14.44
Costs to cover: 1.106%
Break-even: 6.3 days

Slippage from ApeX Omni: live order book, 4 min ago; Gate: live order book, 5 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, 4 min ago	6.52 bp	14.1 bp −$14	122.3 bp −$1,223	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	13.02 bp	38.5 bp −$38	234.0 bp −$2,340	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
Deribit CHIP_USDC-PERPETUAL	−0.0770%	1h	0.04603	−0.076%	$10K	$24K	10x	as long as short
Backpack CHIP_USDC_PERP	−0.0753%	1h	0.04603	−0.087%	$16K	$234K	5x	as long as short
ApeX Omni CHIPUSDTlong	−0.0590%	1h	0.04607	long leg	$14K	$248K	50x
Bybit CHIPUSDT	−0.0220%	4h	0.04603	−0.087%	$10.7M	$8.9M	20x	as long as short
OKX CHIP-USDT-SWAP	−0.0200%	4h	0.04604	−0.065%	$1.9M	$9.1M	20x	as long as short
Nado CHIP-PERP	−0.0179%	1h	0.04602	−0.098%	$230K	$18K	5x	as long as short
Phoenix CHIP	−0.0173%	1h	0.04605	−0.043%	$3K	$143K	5x	as long as short
BloFin CHIP-USDT	−0.0141%	4h	0.04602	−0.109%	$543K	$66K	50x	as long as short
Extended CHIP-USD	−0.0120%	1h	0.04602	−0.098%	$210K	$1.3M	5x	as long as short
MEXC CHIP_USDT	−0.0120%	4h	0.04599	−0.174%	$1.8M	$1.2M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CHIPUSDT	−0.0119%	4h	0.04599	−0.168%	$13.9M	$25.7M	50x	as long as short
Aftermath Perps CHIPUSD	−0.0094%	1h	0.04607	−0.004%	$115	$39K	5x	as long as short
Aster CHIPUSDT	−0.0015%	4h	0.04605	−0.040%	$44K	$225K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04603	−0.087%	$85K	$110K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04608	+0.030%	$14.8M	$6.5M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04603	−0.087%	$13K	$628	3x	as long as short
Gate CHIP_USDTshort	+0.0100%	4h	0.04602	−0.109%	$682K	$903K	50x
KuCoin CHIPUSDTM	+0.0100%	4h	0.04601	−0.130%	$983K	$1.0M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04607	0.000%	$2.0M	$3.0M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04602	−0.109%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04610	+0.060%	$840K	$462K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04599	−0.174%	$622	$1.0M	10x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0816%	1h	0.04757	+3.245%	$46K	$41K	50x	as long as short