Funding you earn now, next payment 23:00 UTC−0.1215%/8h= −133.1% APRpaid last 24h −0.078%
Price spread now: Backpack against MEXC+0.065%7-day average +0.022% · you sell dearer than you buy
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$400.404% of the position
Funding, last 7 days+0.353%+$35 on $10k
+Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.065%, 7d avg +0.022%
=The price spread pays, funding is against you. Backpack is 0.043% dearer against MEXC than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of +0.022%): +$4 on $10k if it goes back. Holding the pair costs −$36 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 +0.353%, 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 0.353% in total (about 18.4% 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 | MEXC CHIP_USDT | 0.04612 | −0.0016 | get 0.0008% / 4h | 1h 00m | $1.8M | $1.2M | 50x |
| Short | Backpack CHIP_USDC_PERP | 0.04615 | −0.1231 | pay 0.0154% / 1h | 0m 53s | $15K | $234K | 5x |
MEXC CHIP_USDT
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against MEXC. 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
- −$255.25
- Price spread: +0.065% → +0.022%
- $4.34
- Slippage, 4 orders
- −$30.37
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$291.27
- Costs to cover
- 0.404%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 11 min ago; Backpack: live order book, 17 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 MEXC live order book, 11 min ago | 1.09 bp | 8.4 bp −$8 | 53.0 bp −$530 | 248.1 bp −$24.8K | 785.2 bp −$392.6K |
| Sell Backpack live order book, 17 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 | −0.1231% | 1h | 0.04615 | +0.065% | $15K | $234K | 5x | |
| Phoenix CHIP | −0.0352% | 1h | 0.04609 | −0.065% | $3K | $143K | 5x | as long as short |
| Nado CHIP-PERP | −0.0146% | 1h | 0.04608 | −0.087% | $231K | $18K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0122% | 4h | 0.04615 | +0.065% | $1.9M | $9.2M | 20x | as long as short |
| Aftermath Perps CHIPUSD | −0.0118% | 1h | 0.04613 | +0.012% | $113 | $39K | 5x | as long as short |
| BloFin CHIP-USDT | −0.0060% | 4h | 0.04612 | 0.000% | $541K | $67K | 50x | as long as short |
| ApeX Omni CHIPUSDT | −0.0051% | 1h | 0.04610 | −0.043% | $14K | $247K | 50x | as long as short |
| Binance CHIPUSDT | −0.0017% | 4h | 0.04612 | 0.000% | $13.8M | $26.0M | 50x | as long as short |
| Extended CHIP-USD | −0.0016% | 1h | 0.04613 | +0.013% | $210K | $1.3M | 5x | as long as short |
| MEXC CHIP_USDTlong | −0.0016% | 4h | 0.04612 | long leg | $1.8M | $1.2M | 50x |
Phoenix CHIP
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
Aftermath Perps CHIPUSD
BloFin CHIP-USDT
ApeX Omni CHIPUSDT
Binance CHIPUSDT
Extended CHIP-USDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04614 | +0.052% | $10K | $25K | 10x | as long as short |
| Bybit CHIPUSDT | +0.0057% | 4h | 0.04614 | +0.043% | $10.7M | $8.9M | 20x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04611 | −0.022% | $86K | $109K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04620 | +0.167% | $14.5M | $6.8M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04613 | +0.025% | $49K | $231K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04610 | −0.043% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04612 | 0.000% | $681K | $911K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04614 | +0.043% | $988K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04614 | +0.043% | $2.0M | $3.1M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04614 | +0.043% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04613 | +0.019% | $849K | $453K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04607 | −0.108% | $672 | $1.1M | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0824% | 1h | 0.04636 | +0.518% | $45K | $40K | 50x | as long as short |
Deribit CHIP_USDC-PERPETUAL
Bybit CHIPUSDT
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Coinbase International CHIP-PERP-INTX