Funding you earn now, next payment 23:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.063%
Price spread now: Phoenix against Bybit+0.298%55s7-day average −0.069% · you sell dearer than you buy
Net, funding: paid 7d − costs−$164as 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−$1211.207% of the position
Funding, last 7 days−0.431%−$43 on $10k
+Price spread, last 3 days (all we have)−0.357%−$36 · spread now +0.298%, 7d avg −0.069%
=The price spread pays, funding is against you. Phoenix is 0.367% dearer against Bybit than usual: you sell high and buy low (spread +0.298% now, against its 7-day average of −0.069%): +$37 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 6.0 days. The two prices were read 55 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 | Bybit CHIPUSDT | 0.04694 | 0.0031 | pay 0.0015% / 4h | 34m 33s | $10.9M | $8.9M | 20x |
| Short | Phoenix CHIP | 0.04708 | −0.0173 | pay 0.0022% / 1h | 34m 33s | $3K | $140K | 5x |
Bybit CHIPUSDT
Phoenix CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- −$42.86
- Price spread: +0.298% → −0.069%
- $36.71
- Slippage, 4 orders
- −$102.75
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$126.9
- Costs to cover
- 1.207%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 4 min ago; Phoenix: live order book, 36 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 Bybit live order book, 4 min ago | 3.19 bp | 37.3 bp −$37 | 126.5 bp −$1,265 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 36 min ago | 4.34 bp | 26.5 bp −$26 | 70.7 bp −$707 | 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 | −0.1250% | 1h | 0.04703 | +0.192% | $14K | $234K | 5x | as long as short |
| Phoenix CHIPshort | −0.0173% | 1h | 0.04708 | +0.298% | $3K | $140K | 5x | |
| Aftermath Perps CHIPUSD | −0.0078% | 1h | 0.04704 | +0.223% | $87 | $39K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0054% | 4h | 0.04687 | −0.149% | $2.0M | $9.3M | 20x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04711 | +0.356% | $10K | $24K | 10x | as long as short |
| ApeX Omni CHIPUSDT | +0.0026% | 1h | 0.04714 | +0.426% | $14K | $248K | 50x | as long as short |
| Bybit CHIPUSDTlong | +0.0031% | 4h | 0.04694 | long leg | $10.9M | $8.9M | 20x | |
| Extended CHIP-USD | +0.0032% | 1h | 0.04697 | +0.058% | $215K | $1.3M | 5x | as long as short |
| Binance CHIPUSDT | +0.0032% | 4h | 0.04694 | −0.008% | $14.1M | $26.2M | 50x | as long as short |
| MEXC CHIP_USDT | +0.0032% | 4h | 0.04701 | +0.149% | $1.8M | $1.1M | 50x | as long as short |
Backpack CHIP_USDC_PERP
Aftermath Perps CHIPUSD
OKX CHIP-USDT-SWAP
Deribit CHIP_USDC-PERPETUAL
ApeX Omni CHIPUSDT
Extended CHIP-USD
Binance CHIPUSDT
MEXC CHIP_USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin CHIP-USDT | +0.0057% | 4h | 0.04703 | +0.192% | $549K | $67K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04701 | +0.149% | $87K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04711 | +0.366% | $14.8M | $6.8M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04701 | +0.143% | $51K | $236K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04700 | +0.132% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04706 | +0.256% | $696K | $912K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04704 | +0.213% | $991K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04688 | −0.128% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04697 | +0.064% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04704 | +0.223% | $885K | $468K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04705 | +0.234% | $922 | $1.1M | 10x | as long as short |
| Nado CHIP-PERP | +0.0356% | 1h | 0.04687 | −0.149% | $234K | $18K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0840% | 1h | 0.04739 | +0.952% | $46K | $41K | 50x | as long as short |
BloFin CHIP-USDT
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Nado CHIP-PERP
Coinbase International CHIP-PERP-INTX