Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0748%/8h= −81.9% APRpaid last 24h −0.245%

Price spread now: MEXC against Coinbase International−1.806%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 MEXC

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 MEXC is 1.806% cheaper against Coinbase International than usual: you would sell low and buy high (−$181 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	39m 55s	$45K	$37K	50x
Short	MEXC CHIP_USDT	0.04632	0.0100	get 0.0050% / 4h	2h 39m	$1.7M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −1.806%Rate

Funding earned: −$157.08
Price spread: −1.806% → 0.000%: −$180.62
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$347.7
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; MEXC: 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 MEXC live order book, 2 min ago	2.15 bp	10.5 bp −$10	66.4 bp −$664	262.4 bp −$26.2K	853.5 bp −$426.7K

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
Bybit CHIPUSDT	−0.0539%	4h	0.04633	−1.785%	$10.5M	$9.1M	20x	as long as short
ApeX Omni CHIPUSDT	−0.0381%	1h	0.04678	−0.831%	$16K	$245K	50x	as long as short
OKX CHIP-USDT-SWAP	−0.0248%	4h	0.04628	−1.891%	$2.0M	$9.5M	20x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0203%	1h	0.04637	−1.698%	$9K	$24K	10x	as long as short
Phoenix CHIP	−0.0171%	1h	0.04659	−1.234%	$3K	$129K	5x	as long as short
Nado CHIP-PERP	−0.0035%	1h	0.04625	−1.955%	$234K	$18K	5x	as long as short
KuCoin CHIPUSDTM	+0.0042%	4h	0.04633	−1.785%	$970K	$1.1M	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04638	−1.679%	$96K	$113K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04644	−1.560%	$14.4M	$6.2M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04635	−1.742%	$55K	$279K	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	0.04627	−1.906%	$16K	$3K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04629	−1.865%	$13.9M	$27.1M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04629	−1.870%	$662K	$966K	50x	as long as short
MEXC CHIP_USDTshort	+0.0100%	4h	0.04632	−1.806%	$1.7M	$1.2M	50x
Bitget CHIPUSDT	+0.0100%	4h	0.04632	−1.806%	$1.9M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04629	−1.870%	—	$2.0M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04656	−1.303%	$821K	$481K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04640	−1.637%	$663	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04630	−1.842%	$211K	$1.0M	5x	as long as short
BloFin CHIP-USDT	+0.0140%	4h	0.04659	−1.234%	$557K	$64K	50x	as long as short
Aftermath Perps CHIPUSD	+0.0166%	1h	0.04669	−1.017%	$140	$37K	5x	as long as short
Backpack CHIP_USDC_PERP	+0.0192%	1h	0.04638	−1.679%	$34K	$233K	5x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0848%	1h	0.04717	long leg	$45K	$37K	50x