Funding arb · Price arb /

CHIP

all CHIP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h +0.082%

Price spread now: SunX against ApeX Omni−0.234%73s7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$240as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2862.855% of the position

Long on ApeX Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.451%+$45 on $10k

Price spread, last 4 days (all we have)+0.613%+$61 · spread now −0.234%, 7d avg −0.023%

Together, before fees+1.064%+$106 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.211% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.234% now, against its 7-day average of −0.023%). If the spread goes back, that is −$21 on $10k: about 2.6 days of funding at the current rate (+$8 a day). The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CHIPUSDT	0.04698	−0.0176	get 0.0022% / 1h	12m 02s	$16K	$245K	50x
Short	SunX CHIP-USDT	0.04687	0.0100	get 0.0050% / 4h	3h 12m	$673	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.234%Rate

Funding earned: $57.94
Price spread: −0.234% → −0.023%: −$21.12
Slippage, 4 orders: −$267.51
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$248.68
Costs to cover: 2.855%
Break-even: 37.0 days

Slippage from ApeX Omni: live order book, 39 min ago; SunX: live order book, 1 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, 39 min ago	6.38 bp	17.4 bp −$17	121.0 bp −$1,210	doesn't fit	doesn't fit
Sell SunX live order book, 1 min ago	45.90 bp	128.9 bp −$129	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
Bybit CHIPUSDT	−0.0367%	4h	0.04689	−0.192%	$10.7M	$9.0M	20x	as long as short
Phoenix CHIP	−0.0338%	1h	0.04697	−0.021%	$3K	$137K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0237%	4h	0.04685	−0.277%	$2.0M	$9.6M	20x	as long as short
ApeX Omni CHIPUSDTlong	−0.0176%	1h	0.04698	long leg	$16K	$245K	50x
Deribit CHIP_USDC-PERPETUAL	−0.0091%	1h	0.04687	−0.234%	$9K	$24K	10x	as long as short
Nado CHIP-PERP	−0.0027%	1h	0.04684	−0.287%	$237K	$18K	5x	as long as short
KuCoin CHIPUSDTM	+0.0088%	4h	0.04691	−0.149%	$997K	$1.1M	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04688	−0.213%	$96K	$115K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04697	−0.015%	$14.6M	$6.2M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04693	−0.112%	$56K	$279K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CHIP	+0.0100%	1h	0.04691	−0.149%	$16K	$3K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04686	−0.255%	$14.2M	$27.0M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04690	−0.170%	$672K	$988K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04683	−0.319%	$1.7M	$1.2M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04689	−0.192%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04686	−0.255%	—	$2.0M	—	as long as short
Backpack CHIP_USDC_PERP	+0.0100%	1h	0.04691	−0.149%	$34K	$230K	5x	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04695	−0.060%	$830K	$529K	—	as long as short
SunX CHIP-USDTshort	+0.0100%	4h	0.04687	−0.234%	$673	$1.0M	10x
Extended CHIP-USD	+0.0104%	1h	0.04682	−0.337%	$216K	$1.0M	5x	as long as short
BloFin CHIP-USDT	+0.0115%	4h	0.04692	−0.128%	$565K	$65K	50x	as long as short
Aftermath Perps CHIPUSD	+0.0202%	1h	0.04694	−0.092%	$68	$37K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0744%	1h	0.04765	+1.426%	$46K	$37K	50x	as long as short