Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0900%/8h= −98.6% APRpaid last 24h −0.243%

Price spread now: KuCoin against Coinbase International−1.594%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 KuCoin

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 −$27 a day on $10k at the current rate, and KuCoin is 1.594% cheaper against Coinbase International than usual: you would sell low and buy high (−$159 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	0.04717	0.0848	pay 0.0106% / 1h	22m 55s	$45K	$37K	50x
Short	KuCoin CHIPUSDTM	0.04642	−0.0052	pay 0.0026% / 4h	2h 22m	$975K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −1.594%Rate

Funding earned: −$189
Price spread: −1.594% → 0.000%: −$159.42
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$370.42
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	6.48 bp	30.4 bp −$30	457.7 bp −$4,577	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	−0.0767%	1h	0.04627	−1.912%	$16K	$246K	50x	as long as short
Bybit CHIPUSDT	−0.0489%	4h	0.04652	−1.382%	$10.5M	$9.1M	20x	as long as short
OKX CHIP-USDT-SWAP	−0.0296%	4h	0.04650	−1.425%	$2.0M	$9.5M	20x	as long as short
Phoenix CHIP	−0.0171%	1h	0.04629	−1.870%	$3K	$129K	5x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0116%	1h	0.04640	−1.632%	$9K	$24K	10x	as long as short
Nado CHIP-PERP	−0.0093%	1h	0.04636	−1.721%	$235K	$18K	5x	as long as short
KuCoin CHIPUSDTMshort	−0.0052%	4h	0.04642	−1.594%	$975K	$1.2M	50x
Gate CHIP_USDT	+0.0004%	4h	0.04639	−1.658%	$657K	$978K	50x	as long as short
Aftermath Perps CHIPUSD	+0.0083%	1h	0.04639	−1.649%	$109	$37K	5x	as long as short
BloFin CHIP-USDT	+0.0089%	4h	0.04642	−1.594%	$560K	$64K	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC CHIP_USDT	+0.0090%	4h	0.04658	−1.255%	$1.7M	$1.2M	50x	as long as short
Binance CHIPUSDT	+0.0094%	4h	0.04658	−1.252%	$14.0M	$27.1M	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04643	−1.573%	$96K	$113K	3x	as long as short
Extended CHIP-USD	+0.0096%	1h	0.04656	−1.303%	$211K	$1.0M	5x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04657	−1.287%	$14.4M	$6.1M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04659	−1.240%	$54K	$279K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04644	−1.556%	$16K	$3K	3x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04648	−1.467%	$1.9M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04658	−1.255%	—	$2.0M	—	as long as short
Backpack CHIP_USDC_PERP	+0.0100%	1h	0.04651	−1.403%	$35K	$235K	5x	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04625	−1.960%	$813K	$481K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04635	−1.743%	$798	$1.0M	10x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0848%	1h	0.04717	long leg	$45K	$37K	50x