Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0165%/8h= +18.1% APRpaid last 24h −0.044%

Price spread now: Gate against Deribit−0.032%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 Gate

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

Funding pays, the price is against you. Gate is 0.032% cheaper against Deribit than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 15 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CHIP_USDC-PERPETUAL	0.04761	−0.0065	get 0.0008% / 1h	24m 23s	$10K	$23K	10x
Short	Gate CHIP_USDT	0.04760	0.0100	get 0.0050% / 4h	24m 23s	$677K	$977K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.032%Rate

Funding earned: $34.64
Price spread: −0.032% → 0.000%: −$3.15
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $9.49
Costs to cover: 0.220%
Break-even: 5.1 days

Slippage unknown: Deribit: no order-book sample; Gate: live order book, 12 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 Gate live order book, 12 min ago	7.36 bp	31.6 bp −$32	221.5 bp −$2,215	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
ApeX Omni CHIPUSDT	−0.0364%	1h	0.04767	+0.116%	$17K	$247K	50x	as long as short
Phoenix CHIP	−0.0335%	1h	0.04759	−0.053%	$3K	$125K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0175%	4h	0.04751	−0.221%	$2.1M	$9.6M	20x	as long as short
Bybit CHIPUSDT	−0.0166%	4h	0.04757	−0.095%	$10.8M	$9.0M	20x	as long as short
KuCoin CHIPUSDTM	−0.0080%	4h	0.04755	−0.137%	$998K	$1.1M	50x	as long as short
Deribit CHIP_USDC-PERPETUALlong	−0.0065%	1h	0.04761	long leg	$10K	$23K	10x
Nado CHIP-PERP	−0.0010%	1h	0.04752	−0.189%	$241K	$18K	5x	as long as short
Aftermath Perps CHIPUSD	+0.0075%	1h	0.04767	+0.125%	$151	$35K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04756	−0.116%	$99K	$107K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04761	0.000%	$14.7M	$5.9M	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CHIPUSDT	+0.0100%	4h	0.04752	−0.203%	$49K	$275K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04754	−0.162%	$16K	$4K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04748	−0.281%	$14.2M	$27.0M	50x	as long as short
Gate CHIP_USDTshort	+0.0100%	4h	0.04760	−0.032%	$677K	$977K	50x
MEXC CHIP_USDT	+0.0100%	4h	0.04749	−0.263%	$1.9M	$1.0M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04757	−0.095%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04750	−0.242%	—	$1.9M	—	as long as short
Backpack CHIP_USDC_PERP	+0.0100%	1h	0.04757	−0.095%	$27K	$225K	5x	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04754	−0.155%	$917K	$472K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04747	−0.305%	$624	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04755	−0.131%	$216K	$1.9M	5x	as long as short
BloFin CHIP-USDT	+0.0128%	4h	0.04756	−0.116%	$571K	$100K	50x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0920%	1h	0.04839	+1.634%	$46K	$37K	50x	as long as short