Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0155%/8h= −17.0% APRpaid last 24h +0.003%

Price spread now: BloFin against Lighter−0.171%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$730.729% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 3 days (all we have)+0.652%+$65 · spread now −0.171%, 7d avg −0.003%

Together, before fees+0.722%+ Points / potential airdropLighter: Season 3 · farm board+$72 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BloFin is 0.168% cheaper against Lighter than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.003%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.070%, so the current rate has only just turned against you.

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	56m 49s	$87K	$108K	3x
Short	BloFin CHIP-USDT	0.04668	−0.0059	pay 0.0030% / 4h	56m 49s	$548K	$68K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now −0.171%Rate

Funding earned: −$32.56
Price spread: −0.171% → −0.003%: −$16.81
Slippage, 4 orders: −$60.91
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$122.27
Costs to cover: 0.729%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; BloFin: live order book, 19 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, 3 min ago	10.83 bp	21.1 bp −$21	118.7 bp −$1,187	doesn't fit	doesn't fit
Sell BloFin live order book, 19 min ago	1.09 bp	16.6 bp −$17	45.4 bp −$454	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_PERP	−0.1058%	1h	0.04667	−0.192%	$15K	$234K	5x	as long as short
Phoenix CHIP	−0.0352%	1h	0.04609	−1.433%	$3K	$139K	5x	as long as short
Nado CHIP-PERP	−0.0201%	1h	0.04663	−0.267%	$233K	$18K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0103%	4h	0.04671	−0.107%	$1.9M	$9.3M	20x	as long as short
Aftermath Perps CHIPUSD	−0.0103%	1h	0.04625	−1.097%	$116	$39K	5x	as long as short
BloFin CHIP-USDTshort	−0.0059%	4h	0.04668	−0.171%	$548K	$68K	50x
ApeX Omni CHIPUSDT	−0.0041%	1h	0.04613	−1.347%	$14K	$247K	50x	as long as short
MEXC CHIP_USDT	−0.0008%	4h	0.04666	−0.214%	$1.8M	$1.1M	50x	as long as short
Extended CHIP-USD	0.0000%	1h	0.04665	−0.244%	$211K	$1.3M	5x	as long as short
Binance CHIPUSDT	+0.0001%	4h	0.04671	−0.107%	$14.0M	$26.0M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CHIPUSDT	+0.0059%	4h	0.04677	+0.021%	$10.9M	$9.0M	20x	as long as short
Lighter CHIPlong	+0.0096%	1h	0.04676	long leg	$87K	$108K	3x
Hyperliquid CHIP	+0.0100%	1h	0.04683	+0.152%	$14.7M	$6.8M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04683	+0.150%	$51K	$236K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04676	0.000%	$13K	$628	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04671	−0.107%	$691K	$907K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04669	−0.150%	$1.0M	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04680	+0.086%	$2.0M	$3.2M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04675	−0.021%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04609	−1.425%	$849K	$453K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04658	−0.385%	$760	$1.1M	10x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0840%	1h	0.04653	−0.496%	$45K	$40K	50x	as long as short
Deribit CHIP_USDC-PERPETUAL	+0.1570%	1h	0.04680	+0.088%	$10K	$25K	10x	as long as short