CHIP

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1070%/8h= −117.2% APRnext payment −$1.34 per $10,000 · paid last 24h −0.383%

Price spread now: Backpack against Coinbase International−2.694%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Backpack is 2.694% cheaper against Coinbase International than usual: you would sell low and buy high (−$269 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CHIP-PERP-INTX	0.04855	0.0736	pay 0.0092% / 1h	5m 23s	$47K	$41K	50x
Short	Backpack CHIP_USDC_PERP	0.04724	−0.0334	pay 0.0042% / 1h	5m 23s	$33K	$251K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now −2.694%Rate

Funding earned: −$224.71
Price spread: −2.694% → 0.000%: −$269.42
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$514.13
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Backpack: live order book, 53 min ago. Net counts fees only.

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 Coinbase International no order-book sample	—	—	—	—	—
Sell Backpack live order book, 53 min ago	2.13 bp	13.8 bp −$14	doesn't fit	doesn't fit	doesn't fit

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Phoenix CHIP	−0.0510%	1h	0.04746	−2.241%	$3K	$129K	5x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0364%	1h	0.04722	−2.746%	$10K	$24K	10x	as long as short
Backpack CHIP_USDC_PERPshort	−0.0334%	1h	0.04724	−2.694%	$33K	$251K	5x
OKX CHIP-USDT-SWAP	−0.0321%	4h	0.04724	−2.694%	$2.0M	$9.7M	20x	as long as short
ApeX Omni CHIPUSDT	−0.0298%	1h	0.04746	−2.241%	$16K	$244K	50x	as long as short
Bybit CHIPUSDT	−0.0255%	4h	0.04727	−2.632%	$10.9M	$9.0M	20x	as long as short
Nado CHIP-PERP	−0.0121%	1h	0.04723	−2.725%	$239K	$20K	5x	as long as short
Aster CHIPUSDT	−0.0015%	4h	0.04733	−2.511%	$56K	$279K	5x	as long as short
MEXC CHIP_USDT	+0.0078%	4h	0.04727	−2.632%	$1.8M	$1.2M	50x	as long as short
Binance CHIPUSDT	+0.0079%	4h	0.04727	−2.632%	$14.3M	$27.0M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CHIP-USD	+0.0080%	1h	0.04725	−2.681%	$215K	$1.9M	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04726	−2.653%	$97K	$117K	3x	as long as short
BloFin CHIP-USDT	+0.0097%	4h	0.04738	−2.406%	$564K	$65K	50x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04736	−2.445%	$14.7M	$6.2M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04725	−2.678%	$16K	$3K	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04727	−2.632%	$685K	$989K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04724	−2.694%	$983K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04726	−2.653%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04727	−2.632%	—	$2.0M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04723	−2.722%	$839K	$527K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04714	−2.900%	$705	$1.0M	10x	as long as short
Aftermath Perps CHIPUSD	+0.0167%	1h	0.04751	−2.139%	$100	$38K	5x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0736%	1h	0.04855	long leg	$47K	$41K	50x