Funding you earn now, next payment 23:00 UTC+0.1218%/8h= +133.4% APRpaid last 24h +0.078%
Price spread now: MEXC against Backpack−0.130%7-day average −0.022% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$390.392% of the position
Funding, last 7 days−0.353%−$35 on $10k
+Price spread, last 4 days (all we have)+0.146%+$15 · spread now −0.130%, 7d avg −0.022%
=Funding pays, the price is against you. MEXC is 0.108% cheaper against Backpack than usual: you would sell low and buy high (spread −0.130% now, against its 7-day average of −0.022%). If the spread goes back, that is −$11 on $10k: about 7 hours of funding at the current rate (+$37 a day). Mind the row above: over the last 7 days funding on this pair cost −0.353%, 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 -0.353% in total (about -18.4% 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 | 0.04612 | −0.1262 | get 0.0158% / 1h | 15m 22s | $16K | $234K | 5x |
| Short | MEXC CHIP_USDT | 0.04606 | −0.0044 | pay 0.0022% / 4h | 1h 15m | $1.8M | $1.2M | 50x |
Backpack CHIP_USDC_PERP
MEXC CHIP_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $255.78
- Price spread: −0.130% → −0.022%
- −$10.85
- Slippage, 4 orders
- −$29.23
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- $205.7
- Costs to cover
- 0.392%
- Break-even
- 1.4 days
Slippage from Backpack: live order book, 3 min ago; MEXC: live order book, 6 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, 3 min ago | 1.09 bp | 9.3 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 6 min ago | 1.09 bp | 7.8 bp −$8 | 49.4 bp −$494 | 208.4 bp −$20.8K | 630.0 bp −$315.0K |
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_PERPlong | −0.1262% | 1h | 0.04612 | long leg | $16K | $234K | 5x | |
| Phoenix CHIP | −0.0352% | 1h | 0.04606 | −0.130% | $3K | $143K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0141% | 4h | 0.04610 | −0.043% | $1.9M | $9.2M | 20x | as long as short |
| Aftermath Perps CHIPUSD | −0.0124% | 1h | 0.04608 | −0.084% | $117 | $39K | 5x | as long as short |
| Nado CHIP-PERP | −0.0121% | 1h | 0.04609 | −0.065% | $231K | $18K | 5x | as long as short |
| BloFin CHIP-USDT | −0.0082% | 4h | 0.04607 | −0.108% | $540K | $67K | 50x | as long as short |
| Extended CHIP-USD | −0.0048% | 1h | 0.04609 | −0.075% | $210K | $1.3M | 5x | as long as short |
| Binance CHIPUSDT | −0.0045% | 4h | 0.04606 | −0.141% | $13.8M | $26.0M | 50x | as long as short |
| MEXC CHIP_USDTshort | −0.0044% | 4h | 0.04606 | −0.130% | $1.8M | $1.2M | 50x | |
| ApeX Omni CHIPUSDT | −0.0006% | 1h | 0.04610 | −0.043% | $14K | $247K | 50x | as long as short |
Phoenix CHIP
OKX CHIP-USDT-SWAP
Aftermath Perps CHIPUSD
Nado CHIP-PERP
BloFin CHIP-USDT
Extended CHIP-USD
Binance CHIPUSDT
ApeX Omni CHIPUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04617 | +0.113% | $10K | $25K | 10x | as long as short |
| Bybit CHIPUSDT | +0.0070% | 4h | 0.04611 | −0.022% | $10.7M | $8.9M | 20x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04611 | −0.022% | $86K | $109K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04615 | +0.065% | $14.5M | $6.8M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04612 | 0.000% | $48K | $230K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04610 | −0.043% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04612 | 0.000% | $681K | $910K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04609 | −0.065% | $985K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04613 | +0.022% | $2.0M | $3.1M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04608 | −0.087% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04608 | −0.088% | $849K | $455K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04610 | −0.043% | $760 | $1.1M | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0824% | 1h | 0.04636 | +0.518% | $45K | $40K | 50x | as long as short |
Deribit CHIP_USDC-PERPETUAL
Bybit CHIPUSDT
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Coinbase International CHIP-PERP-INTX