Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0940%/8h= −102.9% APRpaid last 24h −0.067%

Price spread now: KuCoin against Deribit+0.032%7-day average — · you sell dearer than you buy

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

Long on Deribit 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

The price spread pays, funding is against you. KuCoin is 0.032% dearer against Deribit than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CHIP_USDC-PERPETUAL	0.04657	0.1040	pay 0.0130% / 1h	50m 41s	$10K	$24K	10x
Short	KuCoin CHIPUSDTM	0.04658	0.0100	get 0.0050% / 4h	2h 50m	$974K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$197.44
Price spread: +0.032% → 0.000%: $3.22
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$213.22
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago	9.64 bp	40.6 bp −$41	469.8 bp −$4,698	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	−0.0816%	1h	0.04623	−0.719%	$16K	$250K	50x	as long as short
Backpack CHIP_USDC_PERP	−0.0226%	1h	0.04653	−0.075%	$14K	$220K	5x	as long as short
Phoenix CHIP	−0.0172%	1h	0.04612	−0.956%	$3K	$129K	5x	as long as short
Nado CHIP-PERP	−0.0010%	1h	0.04647	−0.204%	$234K	$19K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0007%	4h	0.04657	+0.011%	$1.9M	$9.2M	20x	as long as short
Lighter CHIP	+0.0096%	1h	0.04657	+0.011%	$86K	$108K	3x	as long as short
BloFin CHIP-USDT	+0.0097%	4h	0.04640	−0.354%	$557K	$63K	50x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04671	+0.301%	$14.6M	$6.4M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04654	−0.052%	$48K	$255K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04658	+0.041%	$13K	$628	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CHIPUSDT	+0.0100%	4h	0.04657	+0.011%	$14.0M	$26.2M	50x	as long as short
Bybit CHIPUSDT	+0.0100%	4h	0.04659	+0.054%	$10.8M	$8.7M	20x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04654	−0.054%	$691K	$915K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04656	−0.011%	$1.8M	$1.1M	50x	as long as short
KuCoin CHIPUSDTMshort	+0.0100%	4h	0.04658	+0.032%	$974K	$1.1M	50x
Bitget CHIPUSDT	+0.0100%	4h	0.04657	+0.011%	$2.0M	$3.2M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04655	−0.032%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04648	−0.187%	$872K	$458K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04645	−0.247%	$744	$1.1M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04650	−0.130%	$216K	$1.9M	5x	as long as short
Aftermath Perps CHIPUSD	+0.0287%	1h	0.04641	−0.335%	$118	$38K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0848%	1h	0.04715	+1.248%	$45K	$40K	50x	as long as short
Deribit CHIP_USDC-PERPETUALlong	+0.1040%	1h	0.04657	long leg	$10K	$24K	10x