Funding you earn now, next payment 22:00 UTC−0.0452%/8h= −49.5% APRpaid last 24h −0.074%
Price spread now: Phoenix against Bitget−0.131%79s7-day average −0.077% · 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−$920.917% of the position
Funding, last 7 days−0.550%−$55 on $10k
+Price spread, last 3 days (all we have)+0.101%+$10 · spread now −0.131%, 7d avg −0.077%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Phoenix is 0.053% cheaper against Bitget than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.077%). Swap the legs. The two prices were read 79 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 | Bitget CHIPUSDT | 0.04593 | 0.0100 | pay 0.0050% / 4h | 1h 24m | $2.0M | $3.1M | 50x |
| Short | Phoenix CHIP | 0.04587 | −0.0352 | pay 0.0044% / 1h | 24m 17s | $3K | $143K | 5x |
Bitget CHIPUSDT
Phoenix CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bitget. 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
- −$95.01
- Price spread: −0.131% → −0.077%
- −$5.33
- Slippage, 4 orders
- −$72.7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$192.03
- Costs to cover
- 0.917%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 3 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 Bitget live order book, 3 min ago | 3.27 bp | 19.7 bp −$20 | 53.2 bp −$532 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 51 min ago | 4.35 bp | 26.5 bp −$26 | 70.9 bp −$709 | 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_PERP | −0.1269% | 1h | 0.04591 | −0.044% | $16K | $234K | 5x | as long as short |
| Phoenix CHIPshort | −0.0352% | 1h | 0.04587 | −0.131% | $3K | $143K | 5x | |
| OKX CHIP-USDT-SWAP | −0.0167% | 4h | 0.04591 | −0.044% | $1.9M | $9.1M | 20x | as long as short |
| Aftermath Perps CHIPUSD | −0.0161% | 1h | 0.04593 | +0.003% | $110 | $39K | 5x | as long as short |
| Nado CHIP-PERP | −0.0107% | 1h | 0.04593 | 0.000% | $230K | $18K | 5x | as long as short |
| MEXC CHIP_USDT | −0.0074% | 4h | 0.04590 | −0.065% | $1.8M | $1.2M | 50x | as long as short |
| Extended CHIP-USD | −0.0072% | 1h | 0.04592 | −0.019% | $209K | $1.3M | 5x | as long as short |
| Binance CHIPUSDT | −0.0070% | 4h | 0.04591 | −0.044% | $13.8M | $26.0M | 50x | as long as short |
| ApeX Omni CHIPUSDT | −0.0049% | 1h | 0.04598 | +0.109% | $14K | $247K | 50x | as long as short |
| BloFin CHIP-USDT | −0.0044% | 4h | 0.04590 | −0.065% | $539K | $67K | 50x | as long as short |
Backpack CHIP_USDC_PERP
OKX CHIP-USDT-SWAP
Aftermath Perps CHIPUSD
Nado CHIP-PERP
MEXC CHIP_USDT
Extended CHIP-USD
Binance CHIPUSDT
ApeX Omni CHIPUSDT
BloFin CHIP-USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CHIPUSDT | +0.0058% | 4h | 0.04593 | 0.000% | $10.7M | $8.9M | 20x | as long as short |
| Aster CHIPUSDT | +0.0089% | 4h | 0.04593 | −0.004% | $48K | $229K | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04592 | −0.022% | $85K | $109K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04596 | +0.059% | $14.5M | $6.7M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04594 | +0.030% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04594 | +0.022% | $677K | $904K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04593 | 0.000% | $978K | $1.0M | 50x | as long as short |
| Bitget CHIPUSDTlong | +0.0100% | 4h | 0.04593 | long leg | $2.0M | $3.1M | 50x | |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04593 | 0.000% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04597 | +0.085% | $846K | $455K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04591 | −0.044% | $692 | $1.1M | 10x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0229% | 1h | 0.04598 | +0.111% | $10K | $25K | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0824% | 1h | 0.04618 | +0.551% | $45K | $39K | 50x | as long as short |
Bybit CHIPUSDT
Aster CHIPUSDT
Lighter CHIP
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Deribit CHIP_USDC-PERPETUAL
Coinbase International CHIP-PERP-INTX