Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0424%/8h= +46.4% APRpaid last 24h −0.079%

Price spread now: MEXC against Deribit−0.117%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 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

Funding pays, the price is against you. MEXC is 0.117% cheaper against Deribit than usual: you would sell low and buy high (spread −0.117% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 22 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CHIP_USDC-PERPETUAL	0.04605	−0.0466	get 0.0058% / 1h	12m 50s	$10K	$25K	10x
Short	MEXC CHIP_USDT	0.04600	−0.0042	pay 0.0021% / 4h	1h 12m	$1.8M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.117%Rate

Funding earned: $89.04
Price spread: −0.117% → 0.000%: −$11.73
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $70.32
Costs to cover: 0.070%
Break-even: 1.5 days

Slippage unknown: Deribit: no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago	1.09 bp	8.4 bp −$8	56.8 bp −$568	220.9 bp −$22.1K	812.9 bp −$406.5K

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
Backpack CHIP_USDC_PERP	−0.1276%	1h	0.04605	−0.009%	$16K	$234K	5x	as long as short
Deribit CHIP_USDC-PERPETUALlong	−0.0466%	1h	0.04605	long leg	$10K	$25K	10x
Phoenix CHIP	−0.0352%	1h	0.04606	+0.013%	$3K	$143K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0147%	4h	0.04604	−0.030%	$1.9M	$9.1M	20x	as long as short
Aftermath Perps CHIPUSD	−0.0133%	1h	0.04608	+0.065%	$117	$39K	5x	as long as short
Nado CHIP-PERP	−0.0128%	1h	0.04605	−0.020%	$230K	$18K	5x	as long as short
Binance CHIPUSDT	−0.0043%	4h	0.04601	−0.096%	$13.8M	$26.0M	50x	as long as short
MEXC CHIP_USDTshort	−0.0042%	4h	0.04600	−0.117%	$1.8M	$1.2M	50x
Extended CHIP-USD	−0.0040%	1h	0.04602	−0.072%	$210K	$1.3M	5x	as long as short
ApeX Omni CHIPUSDT	−0.0006%	1h	0.04610	+0.100%	$14K	$247K	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CHIP-USDT	−0.0005%	4h	0.04600	−0.117%	$539K	$67K	50x	as long as short
Bybit CHIPUSDT	+0.0066%	4h	0.04606	+0.013%	$10.7M	$8.9M	20x	as long as short
Lighter CHIP	+0.0096%	1h	0.04606	+0.013%	$85K	$109K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04610	+0.104%	$14.5M	$6.8M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04608	+0.067%	$49K	$230K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04610	+0.100%	$13K	$628	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04608	+0.056%	$680K	$910K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04605	−0.009%	$986K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04608	+0.056%	$2.0M	$3.1M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04603	−0.052%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04611	+0.131%	$849K	$455K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04599	−0.139%	$770	$1.1M	10x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0824%	1h	0.04636	+0.662%	$45K	$40K	50x	as long as short