Funding you earn now, next payment 03:00 UTC+0.1647%/8h= +180.3% APRpaid last 24h +0.128%
Price spread now: OKX against Backpack−0.231%7-day average −0.032% · you buy dearer than you sell
Net, funding: paid 7d − costs−$110as in the Funding arb table
Net, price: spread back to 7d avg − costs−$95as in the Price arb table
costs, in and out, $10k−$750.752% of the position
Funding, last 7 days−0.348%−$35 on $10k
+Price spread, last 4 days (all we have)−0.459%−$46 · spread now −0.231%, 7d avg −0.032%
=Funding pays, the price is against you. OKX is 0.199% cheaper against Backpack than usual: you would sell low and buy high (spread −0.231% now, against its 7-day average of −0.032%). If the spread goes back, that is −$20 on $10k: about 10 hours of funding at the current rate (+$49 a day). Mind the row above: over the last 7 days funding on this pair cost −0.348%, 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 -0.348% in total (about -18.2% 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 | 0.04759 | −0.1823 | get 0.0228% / 1h | 46m 04s | $22K | $210K | 5x |
| Short | OKX CHIP-USDT-SWAP | 0.04748 | −0.0177 | pay 0.0088% / 4h | 1h 46m | $2.0M | $9.5M | 20x |
Backpack CHIP_USDC_PERP
OKX CHIP-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $345.8
- Price spread: −0.231% → −0.032%
- −$19.95
- Slippage, 4 orders
- −$55.25
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $250.61
- Costs to cover
- 0.752%
- Break-even
- 1.9 days
Slippage from Backpack: live order book, 17 min ago; OKX: live order book, 2 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, 17 min ago | 2.10 bp | 11.7 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 3.16 bp | 25.4 bp −$25 | 167.2 bp −$1,672 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CHIP_USDC_PERPlong | −0.1823% | 1h | 0.04759 | long leg | $22K | $210K | 5x | |
| Phoenix CHIP | −0.0337% | 1h | 0.04747 | −0.252% | $3K | $130K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0323% | 1h | 0.04733 | −0.546% | $16K | $244K | 50x | as long as short |
| Bybit CHIPUSDT | −0.0283% | 4h | 0.04753 | −0.126% | $10.9M | $8.8M | 20x | as long as short |
| OKX CHIP-USDT-SWAPshort | −0.0177% | 4h | 0.04748 | −0.231% | $2.0M | $9.5M | 20x | |
| Aster CHIPUSDT | +0.0019% | 4h | 0.04757 | −0.048% | $45K | $271K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0065% | 1h | 0.04768 | +0.185% | $10K | $24K | 10x | as long as short |
| BloFin CHIP-USDT | +0.0067% | 4h | 0.04744 | −0.315% | — | $65K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04760 | +0.021% | $88K | $107K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04771 | +0.256% | $15.0M | $6.1M | 3x | as long as short |
Phoenix CHIP
ApeX Omni CHIPUSDT
Bybit CHIPUSDT
Aster CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
BloFin CHIP-USDT
Lighter CHIP
Hyperliquid CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CHIP | +0.0100% | 1h | 0.04755 | −0.092% | $14K | $688 | 3x | as long as short |
| Binance CHIPUSDT | +0.0100% | 4h | 0.04755 | −0.076% | $14.4M | $26.3M | 50x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04757 | −0.042% | $702K | $944K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04756 | −0.063% | $1.8M | $1.1M | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04758 | −0.021% | $1.0M | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04752 | −0.147% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04757 | −0.042% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04761 | +0.035% | $843K | $527K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04741 | −0.378% | $683 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04756 | −0.065% | $216K | $1.9M | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0322% | 1h | 0.04748 | −0.225% | $83 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0832% | 1h | 0.04788 | +0.616% | $46K | $41K | 50x | as long as short |
| Nado CHIP-PERP | +0.1109% | 1h | 0.04752 | −0.147% | $240K | $19K | 5x | as long as short |
Pacifica CHIP
Binance 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
Nado CHIP-PERP