Settings8H · net · $10k
Funding arb · Price arb /

CHIP

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.019%
Price spread now: Hyperliquid against Gate+0.266%7-day average +0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$99as in the Funding arb table
Net, price: spread back to 7d avg − costs−$95as in the Price arb table
costs, in and out, $10k−$1121.123% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.137%+$14 on $10k
Price spread, last 7 days−0.130%−$13 · spread now +0.266%, 7d avg +0.093%
Together, before fees+0.007%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.172% dearer against Gate than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.093%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate CHIP_USDT0.046700.0100pay 0.0050% / 4h16m 43s$690K$913K50x
ShortHyperliquid CHIP0.046820.0100get 0.0013% / 1h16m 43s$14.7M$6.8M3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid 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

Funding earned
$0
Price spread: +0.266% → +0.093%
$17.24
Slippage, 4 orders
−$88.26
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$95.01
Costs to cover
1.123%
Break-even
never at this rate
Slippage from Gate: live order book, 60 min ago; Hyperliquid: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 60 min ago7.59 bp38.2 bp −$38236.2 bp −$2,362doesn't fitdoesn't fit
Sell Hyperliquid live order book, 6 min ago1.07 bp19.6 bp −$20doesn't fitdoesn't fitdoesn't fit

CHIP on 23 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Backpack CHIP_USDC_PERP−0.1374%1h0.04669−0.021%$15K$236K5xas long as short
Phoenix CHIP−0.0173%1h0.04667−0.064%$3K$140K5xas long as short
ApeX Omni CHIPUSDT−0.0099%1h0.04667−0.064%$14K$249K50xas long as short
OKX CHIP-USDT-SWAP−0.0058%4h0.04659−0.236%$1.9M$9.2M20xas long as short
Deribit CHIP_USDC-PERPETUAL0.0000%1h0.04668−0.043%$10K$24K10xas long as short
Bybit CHIPUSDT+0.0022%4h0.04662−0.171%$10.9M$8.9M20xas long as short
MEXC CHIP_USDT+0.0086%4h0.04662−0.171%$1.8M$1.1M50xas long as short
Extended CHIP-USD+0.0088%1h0.04658−0.255%$212K$1.3M5xas long as short
Binance CHIPUSDT+0.0093%4h0.04662−0.174%$14.0M$26.2M50xas long as short
Lighter CHIP+0.0096%1h0.04665−0.107%$86K$108K3xas long as short
Show all 23 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hyperliquid CHIPshort+0.0100%1h0.04682+0.266%$14.7M$6.8M3x
Aster CHIPUSDT+0.0100%4h0.04669−0.016%$49K$239K5xas long as short
Pacifica CHIP+0.0100%1h0.04668−0.043%$13K$6283xas long as short
Gate CHIP_USDTlong+0.0100%4h0.04670long leg$690K$913K50x
KuCoin CHIPUSDTM+0.0100%4h0.04669−0.021%$985K$1.1M50xas long as short
Bitget CHIPUSDT+0.0100%4h0.04662−0.171%$2.0M$3.2M50xas long as short
BingX CHIP-USDT+0.0100%4h0.04659−0.236%$1.9Mas long as short
Variational Omni CHIP+0.0100%4h0.04670−0.003%$875K$468Kas long as short
SunX CHIP-USDT+0.0100%4h0.04661−0.193%$585$1.1M10xas long as short
BloFin CHIP-USDT+0.0115%4h0.04666−0.086%$553K$66K50xas long as short
Aftermath Perps CHIPUSD+0.0131%1h0.04674+0.095%$118$39K5xas long as short
Nado CHIP-PERP+0.0174%1h0.04666−0.086%$233K$18K5xas long as short
Coinbase International CHIP-PERP-INTX+0.0840%1h0.04715+0.968%$45K$40K50xas long as short