Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.066%

Price spread now: Deribit against Gate+0.062%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Deribit

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. Deribit is 0.062% dearer against Gate than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CHIP_USDT	0.04822	0.0100	pay 0.0050% / 4h	1h 21m	$712K	$950K	50x
Short	Deribit CHIP_USDC-PERPETUAL	0.04825	0	get 0.0000% / 1h	21m 04s	$10K	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$21
Price spread: +0.062% → 0.000%: $6.22
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$36.78
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 41 min ago; Deribit: no order-book sample. 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 Gate live order book, 41 min ago	3.16 bp	39.4 bp −$39	243.0 bp −$2,430	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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	−0.0592%	1h	0.04800	−0.456%	$16K	$245K	50x	as long as short
Bybit CHIPUSDT	−0.0559%	4h	0.04819	−0.062%	$11.1M	$8.9M	20x	as long as short
Backpack CHIP_USDC_PERP	−0.0440%	1h	0.04817	−0.104%	$26K	$237K	5x	as long as short
Phoenix CHIP	−0.0337%	1h	0.04798	−0.498%	$3K	$130K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0265%	4h	0.04813	−0.187%	$2.1M	$9.7M	20x	as long as short
Aster CHIPUSDT	−0.0033%	4h	0.04819	−0.072%	$46K	$270K	5x	as long as short
Deribit CHIP_USDC-PERPETUALshort	0.0000%	1h	0.04825	+0.062%	$10K	$24K	10x
Lighter CHIP	+0.0096%	1h	0.04816	−0.124%	$89K	$107K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04828	+0.129%	$15.2M	$6.1M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04830	+0.166%	$14K	$689	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	0.04811	−0.236%	$14.6M	$26.4M	50x	as long as short
Gate CHIP_USDTlong	+0.0100%	4h	0.04822	long leg	$712K	$950K	50x
MEXC CHIP_USDT	+0.0100%	4h	0.04809	−0.270%	$1.9M	$1.2M	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04820	−0.041%	$1.0M	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04816	−0.124%	$2.0M	$3.3M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04812	−0.207%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04817	−0.112%	$857K	$529K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04811	−0.228%	$775	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04811	−0.233%	$222K	$1.9M	5x	as long as short
BloFin CHIP-USDT	+0.0125%	4h	0.04816	−0.124%	$575K	$63K	50x	as long as short
Nado CHIP-PERP	+0.0125%	1h	0.04822	−0.010%	$243K	$19K	5x	as long as short
Aftermath Perps CHIPUSD	+0.0395%	1h	0.04800	−0.451%	$123	$38K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0832%	1h	0.04855	+0.680%	$47K	$42K	50x	as long as short