Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0141%/8h= +15.5% APRpaid last 24h −0.049%

Price spread now: Aster against Deribit−0.203%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.203% cheaper against Deribit than usual: you would sell low and buy high (spread −0.203% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 4.8 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CHIP_USDC-PERPETUAL	0.04802	−0.0041	get 0.0005% / 1h	43m 34s	$10K	$23K	10x
Short	Aster CHIPUSDT	0.04792	0.0100	get 0.0050% / 4h	43m 34s	$50K	$274K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now −0.203%Rate

Funding earned: $29.7
Price spread: −0.203% → 0.000%: −$20.32
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$5.62
Costs to cover: 0.150%
Break-even: 8.3 days

Slippage unknown: Deribit: no order-book sample; Aster: live order book, 58 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 Deribit no order-book sample	—	—	—	—	—
Sell Aster live order book, 58 min ago	8.37 bp	28.3 bp −$28	doesn't fit	doesn't fit	doesn't fit

Deribit: 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
Phoenix CHIP	−0.0335%	1h	0.04786	−0.337%	$3K	$125K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0320%	1h	0.04791	−0.233%	$18K	$247K	50x	as long as short
Bybit CHIPUSDT	−0.0172%	4h	0.04795	−0.150%	$10.9M	$9.0M	20x	as long as short
OKX CHIP-USDT-SWAP	−0.0114%	4h	0.04788	−0.296%	$2.1M	$9.7M	20x	as long as short
Deribit CHIP_USDC-PERPETUALlong	−0.0041%	1h	0.04802	long leg	$10K	$23K	10x
KuCoin CHIPUSDTM	−0.0018%	4h	0.04796	−0.129%	$1.0M	$1.1M	50x	as long as short
Nado CHIP-PERP	+0.0075%	1h	0.04799	−0.056%	$243K	$18K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04797	−0.108%	$100K	$107K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04802	0.000%	$14.8M	$5.9M	3x	as long as short
Aster CHIPUSDTshort	+0.0100%	4h	0.04792	−0.203%	$50K	$274K	5x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CHIP	+0.0100%	1h	0.04794	−0.175%	$16K	$4K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04789	−0.275%	$14.4M	$27.0M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04799	−0.067%	$686K	$973K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04790	−0.254%	$1.8M	$1.0M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04798	−0.087%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04790	−0.254%	—	$1.9M	—	as long as short
Backpack CHIP_USDC_PERP	+0.0100%	1h	0.04801	−0.025%	$26K	$229K	5x	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04784	−0.378%	$917K	$465K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04796	−0.129%	$892	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04789	−0.281%	$217K	$1.9M	5x	as long as short
BloFin CHIP-USDT	+0.0122%	4h	0.04785	−0.358%	$575K	$100K	50x	as long as short
Aftermath Perps CHIPUSD	+0.0156%	1h	0.04791	−0.229%	$172	$36K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0920%	1h	0.04839	+0.773%	$46K	$37K	50x	as long as short