Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.144%
Price spread now: Backpack against Lighter+0.064%7-day average −0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$69as in the Price arb table
costs, in and out, $10k−$760.758% of the position
Funding, last 7 days+0.287%+$29 on $10k
+Price spread, last 4 days (all we have)+0.020%+$2 · spread now +0.064%, 7d avg −0.006%
=Together, before fees+0.307%+ Points / potential airdropLighter: Season 3 · farm board+$31 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: Backpack is 0.071% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.006%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter CHIP | 0.04676 | 0.0096 | pay 0.0012% / 1h | 8m 44s | $96K | $115K | 3x |
| Short | Backpack CHIP_USDC_PERP | 0.04679 | 0.0100 | get 0.0013% / 1h | 8m 44s | $34K | $230K | 5x |
Lighter CHIP
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $0.84
- Price spread: +0.064% → −0.006%
- $7.06
- Slippage, 4 orders
- −$65.78
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$67.87
- Costs to cover
- 0.758%
- Break-even
- 572.6 days
Slippage from Lighter: live order book, 26 min ago; Backpack: live order book, 44 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 Lighter live order book, 26 min ago | 9.60 bp | 21.0 bp −$21 | 120.2 bp −$1,202 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 44 min ago | 3.17 bp | 13.0 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix CHIP | −0.0338% | 1h | 0.04690 | +0.299% | $3K | $137K | 5x | as long as short |
| Bybit CHIPUSDT | −0.0325% | 4h | 0.04677 | +0.021% | $10.6M | $9.0M | 20x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0306% | 1h | 0.04670 | −0.133% | $9K | $24K | 10x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0233% | 4h | 0.04672 | −0.086% | $2.0M | $9.6M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0171% | 1h | 0.04688 | +0.257% | $16K | $245K | 50x | as long as short |
| Nado CHIP-PERP | −0.0026% | 1h | 0.04665 | −0.225% | $236K | $18K | 5x | as long as short |
| KuCoin CHIPUSDTM | +0.0092% | 4h | 0.04676 | 0.000% | $967K | $1.1M | 50x | as long as short |
| Lighter CHIPlong | +0.0096% | 1h | 0.04676 | long leg | $96K | $115K | 3x | |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04684 | +0.171% | $14.5M | $6.1M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04680 | +0.094% | $56K | $279K | 5x | as long as short |
Phoenix CHIP
Bybit CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
OKX CHIP-USDT-SWAP
ApeX Omni CHIPUSDT
Nado CHIP-PERP
KuCoin CHIPUSDTM
Hyperliquid CHIP
Aster CHIPUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CHIP | +0.0100% | 1h | 0.04676 | −0.009% | $16K | $3K | 3x | as long as short |
| Binance CHIPUSDT | +0.0100% | 4h | 0.04674 | −0.043% | $14.1M | $27.1M | 50x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04677 | +0.021% | $670K | $988K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04673 | −0.064% | $1.7M | $1.2M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04673 | −0.064% | $2.0M | $3.4M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04673 | −0.064% | — | $2.0M | — | as long as short |
| Backpack CHIP_USDC_PERPshort | +0.0100% | 1h | 0.04679 | +0.064% | $34K | $230K | 5x | |
| Variational Omni CHIP | +0.0100% | 4h | 0.04686 | +0.206% | $829K | $476K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04665 | −0.235% | $716 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04673 | −0.058% | $216K | $1.0M | 5x | as long as short |
| BloFin CHIP-USDT | +0.0143% | 4h | 0.04672 | −0.086% | $561K | $65K | 50x | as long as short |
| Aftermath Perps CHIPUSD | +0.0228% | 1h | 0.04689 | +0.279% | $68 | $37K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0744% | 1h | 0.04765 | +1.903% | $46K | $37K | 50x | as long as short |
Pacifica CHIP
Binance CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
BloFin CHIP-USDT
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX