Funding you earn now, next payment 02:00 UTC+0.1500%/8h= +164.2% APRpaid last 24h +0.111%
Price spread now: KuCoin against Backpack−0.063%7-day average +0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$170as in the Funding arb table
Net, price: spread back to 7d avg − costs−$132as in the Price arb table
costs, in and out, $10k−$1221.222% of the position
Funding, last 7 days−0.483%−$48 on $10k
+Price spread, last 4 days (all we have)+0.163%+$16 · spread now −0.063%, 7d avg +0.037%
=Funding pays, the price is against you. KuCoin is 0.100% cheaper against Backpack than usual: you would sell low and buy high (spread −0.063% now, against its 7-day average of +0.037%). If the spread goes back, that is −$10 on $10k: about 5 hours of funding at the current rate (+$45 a day). Mind the row above: over the last 7 days funding on this pair cost −0.483%, 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 -0.483% in total (about -25.2% 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 | 0.04739 | −0.1400 | get 0.0175% / 1h | 9m 16s | $15K | $221K | 5x |
| Short | KuCoin CHIPUSDTM | 0.04736 | 0.0100 | get 0.0050% / 4h | 2h 09m | $990K | $1.1M | 50x |
Backpack CHIP_USDC_PERP
KuCoin CHIPUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $314.92
- Price spread: −0.063% → +0.037%
- −$10.03
- Slippage, 4 orders
- −$100.21
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- $182.68
- Costs to cover
- 1.222%
- Break-even
- 2.9 days
Slippage from Backpack: live order book, 59 min ago; KuCoin: live order book, just now.
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, 59 min ago | 1.07 bp | 10.8 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, just now | 6.34 bp | 40.5 bp −$40 | 457.5 bp −$4,575 | doesn't fit | doesn't fit |
CHIP on 22 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_PERPlong | −0.1400% | 1h | 0.04739 | long leg | $15K | $221K | 5x | |
| Deribit CHIP_USDC-PERPETUAL | −0.0278% | 1h | 0.04733 | −0.133% | $10K | $24K | 10x | as long as short |
| Phoenix CHIP | −0.0172% | 1h | 0.04720 | −0.401% | $3K | $129K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0165% | 1h | 0.04760 | +0.443% | $17K | $244K | 50x | as long as short |
| Nado CHIP-PERP | −0.0075% | 1h | 0.04729 | −0.211% | $238K | $19K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0059% | 4h | 0.04727 | −0.253% | $2.0M | $9.4M | 20x | as long as short |
| Bybit CHIPUSDT | +0.0033% | 4h | 0.04727 | −0.253% | $11.0M | $8.7M | 20x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04728 | −0.232% | $88K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04741 | +0.053% | $14.9M | $6.0M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04738 | −0.031% | $38K | $261K | 5x | as long as short |
Deribit CHIP_USDC-PERPETUAL
Phoenix CHIP
ApeX Omni CHIPUSDT
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
Bybit CHIPUSDT
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CHIP | +0.0100% | 1h | 0.04739 | +0.011% | $14K | $688 | 3x | as long as short |
| Binance CHIPUSDT | +0.0100% | 4h | 0.04724 | −0.326% | $14.3M | $26.2M | 50x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04742 | +0.063% | $695K | $961K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04727 | −0.253% | $1.8M | $1.2M | 50x | as long as short |
| KuCoin CHIPUSDTMshort | +0.0100% | 4h | 0.04736 | −0.063% | $990K | $1.1M | 50x | |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04731 | −0.169% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04726 | −0.274% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04742 | +0.056% | $899K | $467K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04725 | −0.295% | $871 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04725 | −0.289% | $216K | $1.9M | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0388% | 1h | 0.04735 | −0.092% | $104 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0848% | 1h | 0.04785 | +0.969% | $46K | $41K | 50x | as long as short |
Pacifica CHIP
Binance CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX