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

CHIP

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 05:00 UTC+0.0126%/8h= +13.8% APRnext payment +$0.16 per $10,000 · paid last 24h −0.013%
Price spread now: Hyperliquid against Nado+0.461%7-day average +0.203% · you sell dearer than you buy
Net, funding: paid 7d − costsunder 7 days of funding history
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$670.666% of the position
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.087%−$9 on $10k
Price spread, last 4 days (all we have)−0.210%−$21 · spread now +0.461%, 7d avg +0.203%
Together, before fees−0.297%+ Points / potential airdropNado: Active · Hyperliquid: Season 2 · farm board−$30 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.258% dearer against Nado than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.203%. Mind the row above: over the last 3 days funding on this pair cost −0.087%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado CHIP-PERP0.04665−0.0026get 0.0003% / 1h9m 01s$236K$18K5x
ShortHyperliquid CHIP0.046870.0100get 0.0013% / 1h9m 01s$14.5M$6.1M3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Nado. 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
$26.38
Price spread: +0.461% → +0.203%
$25.82
Slippage, 4 orders
−$50.57
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$14.38
Costs to cover
0.666%
Break-even
10.8 days
Slippage from Nado: live order book, 43 min ago; Hyperliquid: live order book, 4 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 Nado live order book, 43 min ago5.61 bp16.2 bp −$16doesn't fitdoesn't fitdoesn't fit
Sell Hyperliquid live order book, 4 min ago1.38 bp19.5 bp −$19doesn'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
Phoenix CHIP−0.0338%1h0.04690+0.525%$3K$137K5xas long as short
Bybit CHIPUSDT−0.0325%4h0.04677+0.246%$10.6M$9.0M20xas long as short
Deribit CHIP_USDC-PERPETUAL−0.0306%1h0.04670+0.092%$9K$24K10xas long as short
OKX CHIP-USDT-SWAP−0.0233%4h0.04671+0.118%$2.0M$9.6M20xas long as short
ApeX Omni CHIPUSDT−0.0171%1h0.04688+0.482%$16K$245K50xas long as short
Nado CHIP-PERPlong−0.0026%1h0.04665long leg$236K$18K5x
KuCoin CHIPUSDTM+0.0092%4h0.04673+0.161%$967K$1.1M50xas long as short
Lighter CHIP+0.0096%1h0.04674+0.182%$96K$115K3xas long as short
Hyperliquid CHIPshort+0.0100%1h0.04687+0.461%$14.5M$6.1M3x
Aster CHIPUSDT+0.0100%4h0.04683+0.369%$56K$279K5xas long as short
Show all 23 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Pacifica CHIP+0.0100%1h0.04677+0.242%$16K$3K3xas long as short
Binance CHIPUSDT+0.0100%4h0.04674+0.185%$14.1M$27.1M50xas long as short
Gate CHIP_USDT+0.0100%4h0.04674+0.182%$670K$988K50xas long as short
MEXC CHIP_USDT+0.0100%4h0.04674+0.182%$1.7M$1.2M50xas long as short
Bitget CHIPUSDT+0.0100%4h0.04675+0.204%$2.0M$3.4M50xas long as short
BingX CHIP-USDT+0.0100%4h0.04674+0.182%$2.0Mas long as short
Backpack CHIP_USDC_PERP+0.0100%1h0.04679+0.289%$34K$230K5xas long as short
Variational Omni CHIP+0.0100%4h0.04686+0.432%$829K$476Kas long as short
SunX CHIP-USDT+0.0100%4h0.04665−0.011%$716$1.0M10xas long as short
Extended CHIP-USD+0.0104%1h0.04665−0.005%$216K$1.0M5xas long as short
BloFin CHIP-USDT+0.0143%4h0.04672+0.139%$561K$65K50xas long as short
Aftermath Perps CHIPUSD+0.0228%1h0.04689+0.504%$68$37K5xas long as short
Coinbase International CHIP-PERP-INTX+0.0744%1h0.04765+2.133%$46K$37K50xas long as short