Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0724%/8h= −79.3% APRpaid last 24h −0.246%

Price spread now: Bitget against Coinbase International−3.816%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 Bitget

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 −$22 a day on $10k at the current rate, and Bitget is 3.816% cheaper against Coinbase International than usual: you would sell low and buy high (−$382 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	0.04757	0.0824	pay 0.0103% / 1h	50m 02s	$46K	$41K	50x
Short	Bitget CHIPUSDT	0.04575	0.0100	get 0.0050% / 4h	1h 50m	$2.0M	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −3.816%Rate

Funding earned: −$152.04
Price spread: −3.816% → 0.000%: −$381.58
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$555.62
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Bitget: live order book, 3 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 Bitget live order book, 3 min ago	5.46 bp	17.1 bp −$17	69.5 bp −$695	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
Backpack CHIP_USDC_PERP	−0.1155%	1h	0.04570	−3.921%	$16K	$234K	5x	as long as short
Phoenix CHIP	−0.0352%	1h	0.04580	−3.711%	$3K	$143K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0246%	4h	0.04571	−3.900%	$1.9M	$9.1M	20x	as long as short
Nado CHIP-PERP	−0.0229%	1h	0.04571	−3.900%	$229K	$18K	5x	as long as short
Aftermath Perps CHIPUSD	−0.0186%	1h	0.04572	−3.877%	$109	$39K	5x	as long as short
Bybit CHIPUSDT	−0.0150%	4h	0.04572	−3.879%	$10.7M	$9.0M	20x	as long as short
Binance CHIPUSDT	−0.0124%	4h	0.04567	−3.984%	$13.7M	$26.0M	50x	as long as short
Extended CHIP-USD	−0.0120%	1h	0.04570	−3.925%	$207K	$1.3M	5x	as long as short
MEXC CHIP_USDT	−0.0120%	4h	0.04567	−3.984%	$1.8M	$1.2M	50x	as long as short
BloFin CHIP-USDT	−0.0100%	4h	0.04572	−3.879%	$539K	$67K	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit CHIP_USDC-PERPETUAL	0.0000%	1h	0.04575	−3.824%	$10K	$25K	10x	as long as short
Aster CHIPUSDT	+0.0024%	4h	0.04572	−3.879%	$47K	$229K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04572	−3.879%	$85K	$109K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04576	−3.793%	$14.4M	$6.8M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04577	−3.784%	$13K	$628	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04579	−3.732%	$678K	$901K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04572	−3.879%	$978K	$1.1M	50x	as long as short
Bitget CHIPUSDTshort	+0.0100%	4h	0.04575	−3.816%	$2.0M	$3.1M	50x
BingX CHIP-USDT	+0.0100%	4h	0.04570	−3.921%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04576	−3.792%	$843K	$472K	—	as long as short
ApeX Omni CHIPUSDT	+0.0100%	1h	0.04573	−3.858%	$14K	$249K	50x	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04566	−4.005%	$947	$1.1M	10x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0824%	1h	0.04757	long leg	$46K	$41K	50x