Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0852%/8h= −93.3% APRpaid last 24h −0.244%

Price spread now: BingX against Coinbase International−1.081%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 BingX

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 −$26 a day on $10k at the current rate, and BingX is 1.081% cheaper against Coinbase International than usual: you would sell low and buy high (−$108 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	0.04839	0.0952	pay 0.0119% / 1h	8m 40s	$46K	$38K	50x
Short	BingX CHIP-USDT	0.04787	0.0100	get 0.0050% / 4h	1h 08m	—	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 BingXbpOrdersPrice spread, now −1.081%Rate

Funding earned: −$178.92
Price spread: −1.081% → 0.000%: −$108.07
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$306.99
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; BingX: live order book, 9 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 BingX live order book, 9 min ago	5.20 bp	21.9 bp −$22	78.7 bp −$787	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
ApeX Omni CHIPUSDT	−0.0367%	1h	0.04782	−1.184%	$17K	$245K	50x	as long as short
Bybit CHIPUSDT	−0.0337%	4h	0.04789	−1.039%	$10.9M	$9.0M	20x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0230%	1h	0.04791	−1.008%	$10K	$23K	10x	as long as short
Nado CHIP-PERP	−0.0200%	1h	0.04784	−1.153%	$242K	$18K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0194%	4h	0.04784	−1.143%	$2.1M	$9.8M	20x	as long as short
Phoenix CHIP	−0.0171%	1h	0.04797	−0.874%	$3K	$128K	5x	as long as short
KuCoin CHIPUSDTM	−0.0062%	4h	0.04785	−1.122%	$1.0M	$1.1M	50x	as long as short
Aftermath Perps CHIPUSD	+0.0001%	1h	0.04804	−0.724%	$63	$36K	5x	as long as short
BloFin CHIP-USDT	+0.0061%	4h	0.04781	−1.205%	$575K	$100K	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04787	−1.081%	$99K	$107K	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid CHIP	+0.0100%	1h	0.04793	−0.951%	$14.8M	$5.9M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04795	−0.922%	$54K	$271K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04790	−1.023%	$16K	$4K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04787	−1.081%	$14.4M	$27.0M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04791	−0.998%	$686K	$996K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04782	−1.184%	$1.8M	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04791	−0.998%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDTshort	+0.0100%	4h	0.04787	−1.081%	—	$1.9M	—
Backpack CHIP_USDC_PERP	+0.0100%	1h	0.04791	−0.998%	$26K	$235K	5x	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04786	−1.099%	$884K	$442K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04785	−1.122%	$984	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04783	−1.160%	$221K	$1.6M	5x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0952%	1h	0.04839	long leg	$46K	$38K	50x