Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0980%/8h= −107.3% APRpaid last 24h −0.268%

Price spread now: OKX against Coinbase International−1.595%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 OKX

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 −$29 a day on $10k at the current rate, and OKX is 1.595% 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	0.04765	0.0744	pay 0.0093% / 1h	12m 50s	$46K	$37K	50x
Short	OKX CHIP-USDT-SWAP	0.04689	−0.0236	pay 0.0118% / 4h	3h 12m	$2.0M	$9.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −1.595%Rate

Funding earned: −$205.8
Price spread: −1.595% → 0.000%: −$159.5
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$385.3
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	1.06 bp	23.4 bp −$23	199.0 bp −$1,990	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
Bybit CHIPUSDT	−0.0408%	4h	0.04691	−1.553%	$10.7M	$9.0M	20x	as long as short
Phoenix CHIP	−0.0338%	1h	0.04697	−1.427%	$3K	$137K	5x	as long as short
OKX CHIP-USDT-SWAPshort	−0.0236%	4h	0.04689	−1.595%	$2.0M	$9.6M	20x
ApeX Omni CHIPUSDT	−0.0176%	1h	0.04698	−1.406%	$16K	$245K	50x	as long as short
Nado CHIP-PERP	−0.0029%	1h	0.04688	−1.605%	$237K	$18K	5x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0006%	1h	0.04693	−1.511%	$9K	$24K	10x	as long as short
KuCoin CHIPUSDTM	+0.0086%	4h	0.04691	−1.553%	$997K	$1.1M	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04690	−1.574%	$96K	$115K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04701	−1.343%	$14.6M	$6.2M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04692	−1.528%	$56K	$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	0.04690	−1.570%	$16K	$3K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04686	−1.665%	$14.2M	$27.0M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04691	−1.553%	$672K	$988K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04688	−1.616%	$1.7M	$1.2M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04690	−1.574%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04690	−1.574%	—	$2.0M	—	as long as short
Backpack CHIP_USDC_PERP	+0.0100%	1h	0.04694	−1.490%	$34K	$230K	5x	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04695	−1.465%	$830K	$529K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04688	−1.616%	$627	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04687	−1.634%	$216K	$1.0M	5x	as long as short
BloFin CHIP-USDT	+0.0115%	4h	0.04692	−1.532%	$565K	$65K	50x	as long as short
Aftermath Perps CHIPUSD	+0.0199%	1h	0.04695	−1.475%	$68	$37K	5x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0744%	1h	0.04765	long leg	$46K	$37K	50x