Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0770%/8h= −84.3% APRpaid last 24h −0.243%

Price spread now: BloFin against Coinbase International−1.404%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 BloFin

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 −$23 a day on $10k at the current rate, and BloFin is 1.404% cheaper against Coinbase International than usual: you would sell low and buy high (−$140 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	0.04715	0.0840	pay 0.0105% / 1h	8m 28s	$45K	$40K	50x
Short	BloFin CHIP-USDT	0.04649	0.0070	get 0.0035% / 4h	8m 28s	$549K	$66K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −1.404%Rate

Funding earned: −$161.65
Price spread: −1.404% → 0.000%: −$140.4
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$324.05
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; BloFin: 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 BloFin live order book, 3 min ago	1.08 bp	23.5 bp −$24	53.3 bp −$533	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	−0.1367%	1h	0.04649	−1.404%	$15K	$236K	5x	as long as short
Phoenix CHIP	−0.0173%	1h	0.04647	−1.446%	$3K	$140K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0118%	1h	0.04647	−1.446%	$14K	$248K	50x	as long as short
OKX CHIP-USDT-SWAP	−0.0066%	4h	0.04649	−1.404%	$1.9M	$9.2M	20x	as long as short
Bybit CHIPUSDT	+0.0042%	4h	0.04652	−1.340%	$10.8M	$8.9M	20x	as long as short
Deribit CHIP_USDC-PERPETUAL	+0.0051%	1h	0.04654	−1.298%	$10K	$24K	10x	as long as short
BloFin CHIP-USDTshort	+0.0070%	4h	0.04649	−1.404%	$549K	$66K	50x
Lighter CHIP	+0.0096%	1h	0.04651	−1.362%	$86K	$108K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04664	−1.077%	$14.7M	$6.8M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04647	−1.440%	$47K	$241K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CHIP	+0.0100%	1h	0.04652	−1.349%	$13K	$628	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04649	−1.404%	$14.0M	$26.2M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04646	−1.468%	$686K	$914K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04650	−1.383%	$1.8M	$1.1M	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04651	−1.362%	$981K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04652	−1.340%	$2.0M	$3.2M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04650	−1.383%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04640	−1.588%	$869K	$468K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04646	−1.468%	$824	$1.1M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04646	−1.466%	$211K	$1.3M	5x	as long as short
Nado CHIP-PERP	+0.0136%	1h	0.04649	−1.393%	$233K	$18K	5x	as long as short
Aftermath Perps CHIPUSD	+0.0229%	1h	0.04656	−1.254%	$120	$39K	5x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0840%	1h	0.04715	long leg	$45K	$40K	50x