Funding you earn now, next payment 04:00 UTC−0.0596%/8h= −65.3% APRpaid last 24h −0.132%
Price spread now: Backpack against Binance+0.178%7-day average +0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs−$55as in the Price arb table
costs, in and out, $10k−$700.700% of the position
Funding, last 7 days+0.264%+$26 on $10k
+Price spread, last 4 days (all we have)+0.501%+$50 · spread now +0.178%, 7d avg +0.031%
=The price spread pays, funding is against you. Backpack is 0.146% dearer against Binance than usual: you sell high and buy low (spread +0.178% now, against its 7-day average of +0.031%): +$15 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 20 hours. Mind the row above: over the last 7 days funding on this pair paid +0.264%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.264% in total (about 13.8% 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 | Binance CHIPUSDT | 0.04682 | 0.0075 | pay 0.0037% / 4h | 57m 57s | $14.2M | $26.6M | 50x |
| Short | Backpack CHIP_USDC_PERP | 0.04690 | −0.0522 | pay 0.0065% / 1h | 57m 57s | $32K | $242K | 5x |
Binance CHIPUSDT
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- −$125.18
- Price spread: +0.178% → +0.031%
- $14.64
- Slippage, 4 orders
- −$50.01
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$180.56
- Costs to cover
- 0.700%
- Break-even
- never at this rate
Slippage from Binance: live order book, 13 min ago; Backpack: live order book, 65 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 Binance live order book, 13 min ago | 1.05 bp | 19.7 bp −$20 | 108.3 bp −$1,083 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 65 min ago | 2.10 bp | 15.6 bp −$16 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni CHIPUSDT | −0.0682% | 1h | 0.04710 | +0.605% | $16K | $245K | 50x | as long as short |
| Bybit CHIPUSDT | −0.0527% | 4h | 0.04687 | +0.114% | $10.8M | $8.9M | 20x | as long as short |
| Backpack CHIP_USDC_PERPshort | −0.0522% | 1h | 0.04690 | +0.178% | $32K | $242K | 5x | |
| Phoenix CHIP | −0.0337% | 1h | 0.04710 | +0.605% | $3K | $129K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0319% | 4h | 0.04680 | −0.036% | $2.0M | $9.4M | 20x | as long as short |
| Aster CHIPUSDT | −0.0087% | 4h | 0.04693 | +0.251% | $50K | $274K | 5x | as long as short |
| Nado CHIP-PERP | +0.0035% | 1h | 0.04698 | +0.338% | $238K | $20K | 5x | as long as short |
| MEXC CHIP_USDT | +0.0070% | 4h | 0.04684 | +0.050% | $1.8M | $1.2M | 50x | as long as short |
| Extended CHIP-USD | +0.0072% | 1h | 0.04678 | −0.069% | $214K | $1.9M | 5x | as long as short |
| Binance CHIPUSDTlong | +0.0075% | 4h | 0.04682 | long leg | $14.2M | $26.6M | 50x |
ApeX Omni CHIPUSDT
Bybit CHIPUSDT
Phoenix CHIP
OKX CHIP-USDT-SWAP
Aster CHIPUSDT
Nado CHIP-PERP
MEXC CHIP_USDT
Extended CHIP-USDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin CHIP-USDT | +0.0090% | 4h | 0.04704 | +0.477% | $571K | $63K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04690 | +0.178% | $87K | $107K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04692 | +0.212% | $14.7M | $6.2M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04710 | +0.605% | $16K | $3K | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04693 | +0.242% | $684K | $948K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04690 | +0.178% | $982K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04685 | +0.071% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04682 | +0.007% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04705 | +0.488% | $838K | $529K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04690 | +0.178% | $864 | $1.0M | 10x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0175% | 1h | 0.04704 | +0.475% | $10K | $24K | 10x | as long as short |
| Aftermath Perps CHIPUSD | +0.0392% | 1h | 0.04721 | +0.833% | $230 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0736% | 1h | 0.04855 | +3.698% | $47K | $42K | 50x | as long as short |
BloFin CHIP-USDT
Lighter CHIP
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Deribit CHIP_USDC-PERPETUAL
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX