Funding you earn now, next payment 00:00 UTC−0.1809%/8h= −198.1% APRnext payment −$2.26 per $10,000 · paid last 24h −0.144%
Price spread now: Phoenix against Deribit+0.065%50s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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. Phoenix is 0.065% dearer against Deribit than usual: you sell high and buy low (spread +0.065% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$54 a day in funding at the current rate, which eats that in about 3 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit CHIP_USDC-PERPETUAL | 0.04620 | 0.1637 | pay 0.0205% / 1h | 43m 25s | $10K | $24K | 10x |
| Short | Phoenix CHIP | 0.04623 | −0.0172 | pay 0.0022% / 1h | 43m 25s | $3K | $140K | 5x |
Deribit CHIP_USDC-PERPETUAL
Phoenix CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$379.84
- Price spread: +0.065% → 0.000%
- $6.49
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$387.34
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Phoenix: live order book, 22 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 Phoenix live order book, 22 min ago | 4.30 bp | 26.2 bp −$26 | 71.3 bp −$713 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CHIP_USDC_PERP | −0.0855% | 1h | 0.04604 | −0.346% | $15K | $232K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0474% | 1h | 0.04619 | −0.022% | $14K | $248K | 50x | as long as short |
| Nado CHIP-PERP | −0.0185% | 1h | 0.04613 | −0.152% | $231K | $18K | 5x | as long as short |
| Phoenix CHIPshort | −0.0172% | 1h | 0.04623 | +0.065% | $3K | $140K | 5x | |
| Bybit CHIPUSDT | −0.0067% | 4h | 0.04614 | −0.130% | $10.7M | $8.9M | 20x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0067% | 4h | 0.04611 | −0.195% | $1.9M | $9.0M | 20x | as long as short |
| BloFin CHIP-USDT | +0.0044% | 4h | 0.04612 | −0.173% | $544K | $65K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04616 | −0.087% | $86K | $108K | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04617 | −0.065% | $46K | $236K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04615 | −0.110% | $13K | $628 | 3x | as long as short |
Backpack CHIP_USDC_PERP
ApeX Omni CHIPUSDT
Nado CHIP-PERP
Bybit CHIPUSDT
OKX CHIP-USDT-SWAP
BloFin CHIP-USDT
Lighter CHIP
Aster CHIPUSDT
Pacifica CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDT | +0.0100% | 4h | 0.04610 | −0.222% | $13.9M | $26.1M | 50x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04616 | −0.087% | $680K | $903K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04610 | −0.216% | $1.8M | $1.2M | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04612 | −0.173% | $972K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04612 | −0.173% | $1.9M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04613 | −0.152% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04620 | +0.006% | $867K | $469K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04603 | −0.368% | $601 | $1.1M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04611 | −0.205% | $213K | $1.5M | 5x | as long as short |
| Hyperliquid CHIP | +0.0254% | 1h | 0.04618 | −0.041% | $14.5M | $6.8M | 3x | as long as short |
| Aftermath Perps CHIPUSD | +0.0436% | 1h | 0.04622 | +0.046% | $141 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0928% | 1h | 0.04715 | +2.061% | $45K | $40K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUALlong | +0.1637% | 1h | 0.04620 | long leg | $10K | $24K | 10x |
Binance CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Hyperliquid CHIP
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX