Funding you earn now, next payment 01:00 UTC−0.0272%/8h= −29.7% APRpaid last 24h −0.078%
Price spread now: Phoenix against Binance−0.296%95s7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$147as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$930.933% of the position
Funding, last 7 days−0.536%−$54 on $10k
+Price spread, last 4 days (all we have)+0.469%+$47 · spread now −0.296%, 7d avg −0.001%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phoenix is 0.295% cheaper against Binance than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.001%). Swap the legs. The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance CHIPUSDT | 0.04734 | 0.0100 | pay 0.0050% / 4h | 2h 09m | $14.3M | $26.2M | 50x |
| Short | Phoenix CHIP | 0.04720 | −0.0172 | pay 0.0021% / 1h | 9m 49s | $3K | $129K | 5x |
Binance CHIPUSDT
Phoenix CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$57.04
- Price spread: −0.296% → −0.001%
- −$29.52
- Slippage, 4 orders
- −$76.25
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$179.81
- Costs to cover
- 0.933%
- Break-even
- never at this rate
Slippage from Binance: live order book, 1 min ago; Phoenix: live order book, 51 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, 1 min ago | 3.16 bp | 20.9 bp −$21 | 95.6 bp −$956 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 51 min ago | 4.30 bp | 26.2 bp −$26 | 71.3 bp −$713 | 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_PERP | −0.1400% | 1h | 0.04739 | +0.106% | $15K | $221K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0572% | 1h | 0.04738 | +0.089% | $10K | $24K | 10x | as long as short |
| Phoenix CHIPshort | −0.0172% | 1h | 0.04720 | −0.296% | $3K | $129K | 5x | |
| ApeX Omni CHIPUSDT | −0.0157% | 1h | 0.04729 | −0.106% | $16K | $244K | 50x | as long as short |
| Nado CHIP-PERP | −0.0069% | 1h | 0.04743 | +0.190% | $239K | $19K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0047% | 4h | 0.04734 | 0.000% | $2.0M | $9.4M | 20x | as long as short |
| Bybit CHIPUSDT | +0.0077% | 4h | 0.04742 | +0.169% | $11.1M | $8.7M | 20x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04736 | +0.042% | $88K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04750 | +0.342% | $14.9M | $6.0M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04748 | +0.289% | $38K | $261K | 5x | as long as short |
Backpack CHIP_USDC_PERP
Deribit CHIP_USDC-PERPETUAL
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 | 0.04754 | +0.416% | $14K | $604 | 3x | as long as short |
| Binance CHIPUSDTlong | +0.0100% | 4h | 0.04734 | long leg | $14.3M | $26.2M | 50x | |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04749 | +0.317% | $696K | $961K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04734 | 0.000% | $1.8M | $1.2M | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04745 | +0.232% | $992K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04738 | +0.084% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04736 | +0.042% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04742 | +0.162% | $899K | $467K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04730 | −0.084% | $867 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04734 | −0.004% | $217K | $1.9M | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0385% | 1h | 0.04735 | +0.030% | $104 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0848% | 1h | 0.04785 | +1.075% | $46K | $41K | 50x | as long as short |
Pacifica CHIP
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