Funding you earn now, next payment 00:00 UTC−0.1474%/8h= −161.4% APRpaid last 24h −0.096%
Price spread now: Backpack against Gate−0.021%7-day average −0.077% · you buy dearer than you sell
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$98as in the Price arb table
costs, in and out, $10k−$1041.036% of the position
Funding, last 7 days+0.329%+$33 on $10k
+Price spread, last 4 days (all we have)−0.209%−$21 · spread now −0.021%, 7d avg −0.077%
=The price spread pays, funding is against you. Backpack is 0.055% dearer against Gate than usual: you sell high and buy low (spread −0.021% now, against its 7-day average of −0.077%): +$6 on $10k if it goes back. Holding the pair costs −$44 a day in funding at the current rate, which eats that in about 3 hours. Mind the row above: over the last 7 days funding on this pair paid +0.329%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.329% in total (about 17.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate CHIP_USDT | 0.04670 | 0.0100 | pay 0.0050% / 4h | 16m 31s | $690K | $913K | 50x |
| Short | Backpack CHIP_USDC_PERP | 0.04669 | −0.1374 | pay 0.0172% / 1h | 16m 31s | $15K | $236K | 5x |
Gate CHIP_USDT
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Gate. 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
- −$309.58
- Price spread: −0.021% → −0.077%
- $5.54
- Slippage, 4 orders
- −$78.61
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$407.65
- Costs to cover
- 1.036%
- Break-even
- never at this rate
Slippage from Gate: live order book, 60 min ago; Backpack: live order book, 62 min ago.
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 Gate live order book, 60 min ago | 7.59 bp | 38.2 bp −$38 | 236.2 bp −$2,362 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 62 min ago | 1.09 bp | 13.4 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
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_PERPshort | −0.1374% | 1h | 0.04669 | −0.021% | $15K | $236K | 5x | |
| Phoenix CHIP | −0.0173% | 1h | 0.04667 | −0.064% | $3K | $140K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0099% | 1h | 0.04667 | −0.064% | $14K | $249K | 50x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0058% | 4h | 0.04659 | −0.236% | $1.9M | $9.2M | 20x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04668 | −0.043% | $10K | $24K | 10x | as long as short |
| Bybit CHIPUSDT | +0.0027% | 4h | 0.04662 | −0.171% | $10.9M | $8.9M | 20x | as long as short |
| MEXC CHIP_USDT | +0.0086% | 4h | 0.04659 | −0.236% | $1.8M | $1.1M | 50x | as long as short |
| Extended CHIP-USD | +0.0088% | 1h | 0.04658 | −0.255% | $212K | $1.3M | 5x | as long as short |
| Binance CHIPUSDT | +0.0093% | 4h | 0.04659 | −0.241% | $14.0M | $26.2M | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04665 | −0.107% | $86K | $108K | 3x | as long as short |
Phoenix CHIP
ApeX Omni CHIPUSDT
OKX CHIP-USDT-SWAP
Deribit CHIP_USDC-PERPETUAL
Bybit CHIPUSDT
MEXC CHIP_USDT
Extended CHIP-USD
Binance CHIPUSDT
Lighter CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid CHIP | +0.0100% | 1h | 0.04673 | +0.066% | $14.7M | $6.8M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04665 | −0.107% | $49K | $239K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04668 | −0.043% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDTlong | +0.0100% | 4h | 0.04670 | long leg | $690K | $913K | 50x | |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04663 | −0.150% | $983K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04661 | −0.193% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04659 | −0.236% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04670 | −0.003% | $875K | $468K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04661 | −0.193% | $585 | $1.1M | 10x | as long as short |
| BloFin CHIP-USDT | +0.0115% | 4h | 0.04666 | −0.086% | $553K | $66K | 50x | as long as short |
| Aftermath Perps CHIPUSD | +0.0138% | 1h | 0.04673 | +0.074% | $118 | $39K | 5x | as long as short |
| Nado CHIP-PERP | +0.0171% | 1h | 0.04662 | −0.161% | $233K | $18K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0840% | 1h | 0.04715 | +0.968% | $45K | $40K | 50x | as long as short |
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIP
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
BloFin CHIP-USDT
Aftermath Perps CHIPUSD
Nado CHIP-PERP
Coinbase International CHIP-PERP-INTX