Funding you earn now, next payment 02:00 UTC+0.0496%/8h= +54.3% APRpaid last 24h +0.112%
Price spread now: Binance against Backpack−0.065%7-day average −0.032% · you buy dearer than you sell
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$620.622% of the position
Funding, last 7 days−0.290%−$29 on $10k
+Price spread, last 4 days (all we have)−0.046%−$5 · spread now −0.065%, 7d avg −0.032%
=Funding pays, the price is against you. Binance is 0.033% cheaper against Backpack than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of −0.032%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.290%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.290% in total (about -15.1% 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 | Backpack CHIP_USDC_PERP | 0.04643 | −0.0396 | get 0.0049% / 1h | 52m 05s | $14K | $219K | 5x |
| Short | Binance CHIPUSDT | 0.04640 | 0.0100 | get 0.0050% / 4h | 2h 52m | $14.0M | $26.2M | 50x |
Backpack CHIP_USDC_PERP
Binance CHIPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Backpack. 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
- $104.14
- Price spread: −0.065% → −0.032%
- −$3.29
- Slippage, 4 orders
- −$42.16
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $38.68
- Costs to cover
- 0.622%
- Break-even
- 4.4 days
Slippage from Backpack: live order book, 16 min ago; Binance: live order book, 4 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 Backpack live order book, 16 min ago | 1.07 bp | 10.8 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 4 min ago | 1.09 bp | 23.0 bp −$23 | 94.7 bp −$947 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni CHIPUSDT | −0.1319% | 1h | 0.04662 | +0.409% | $16K | $251K | 50x | as long as short |
| Backpack CHIP_USDC_PERPlong | −0.0396% | 1h | 0.04643 | long leg | $14K | $219K | 5x | |
| Phoenix CHIP | −0.0172% | 1h | 0.04612 | −0.668% | $3K | $129K | 5x | as long as short |
| Nado CHIP-PERP | −0.0016% | 1h | 0.04641 | −0.032% | $234K | $19K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0011% | 4h | 0.04646 | +0.065% | $1.9M | $9.2M | 20x | as long as short |
| BloFin CHIP-USDT | +0.0080% | 4h | 0.04613 | −0.646% | $556K | $63K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04641 | −0.043% | $86K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04652 | +0.194% | $14.6M | $6.4M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04639 | −0.084% | $48K | $255K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04636 | −0.155% | $13K | $628 | 3x | as long as short |
ApeX Omni CHIPUSDT
Phoenix CHIP
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
BloFin CHIP-USDT
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDTshort | +0.0100% | 4h | 0.04640 | −0.065% | $14.0M | $26.2M | 50x | |
| Bybit CHIPUSDT | +0.0100% | 4h | 0.04644 | +0.022% | $10.8M | $8.7M | 20x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04634 | −0.194% | $684K | $911K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04640 | −0.065% | $1.8M | $1.1M | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04638 | −0.108% | $968K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04641 | −0.043% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04643 | 0.000% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04631 | −0.263% | $870K | $458K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04615 | −0.603% | $708 | $1.1M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04636 | −0.144% | $216K | $1.9M | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0288% | 1h | 0.04638 | −0.113% | $118 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0848% | 1h | 0.04715 | +1.542% | $45K | $40K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.1236% | 1h | 0.04649 | +0.123% | $10K | $24K | 10x | as long as short |
Bybit CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX
Deribit CHIP_USDC-PERPETUAL