Funding you earn now, next payment 23:00 UTC−0.0107%/8h= −11.8% APRpaid last 24h −0.078%
Price spread now: Phoenix against OKX+0.449%76s7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$153as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1081.078% of the position
Funding, last 7 days−0.456%−$46 on $10k
+Price spread, last 3 days (all we have)−0.405%−$40 · spread now +0.449%, 7d avg −0.004%
=The price spread pays, funding is against you. Phoenix is 0.454% dearer against OKX than usual: you sell high and buy low (spread +0.449% now, against its 7-day average of −0.004%): +$45 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 14 days. At the pace of the last 7 days (−0.456% in total) that is about 7.0 days. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX CHIP-USDT-SWAP | 0.04675 | −0.0066 | get 0.0033% / 4h | 32m 14s | $1.9M | $9.3M | 20x |
| Short | Phoenix CHIP | 0.04696 | −0.0173 | pay 0.0022% / 1h | 32m 14s | $3K | $140K | 5x |
OKX CHIP-USDT-SWAP
Phoenix CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against OKX. 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
- −$22.56
- Price spread: +0.449% → −0.004%
- $45.36
- Slippage, 4 orders
- −$90.81
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$85.02
- Costs to cover
- 1.078%
- Break-even
- never at this rate
Slippage from OKX: live order book, 6 min ago; Phoenix: live order book, 38 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 OKX live order book, 6 min ago | 2.12 bp | 29.3 bp −$29 | 366.5 bp −$3,665 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 38 min ago | 4.34 bp | 26.5 bp −$26 | 70.7 bp −$707 | 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 | −0.1299% | 1h | 0.04678 | +0.064% | $14K | $234K | 5x | as long as short |
| Phoenix CHIPshort | −0.0173% | 1h | 0.04696 | +0.449% | $3K | $140K | 5x | |
| OKX CHIP-USDT-SWAPlong | −0.0066% | 4h | 0.04675 | long leg | $1.9M | $9.3M | 20x | |
| ApeX Omni CHIPUSDT | −0.0063% | 1h | 0.04703 | +0.599% | $14K | $248K | 50x | as long as short |
| Aftermath Perps CHIPUSD | −0.0046% | 1h | 0.04699 | +0.507% | $87 | $39K | 5x | as long as short |
| BloFin CHIP-USDT | −0.0006% | 4h | 0.04684 | +0.193% | $547K | $67K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04685 | +0.207% | $10K | $24K | 10x | as long as short |
| Bybit CHIPUSDT | +0.0033% | 4h | 0.04679 | +0.086% | $10.9M | $8.9M | 20x | as long as short |
| MEXC CHIP_USDT | +0.0034% | 4h | 0.04679 | +0.086% | $1.8M | $1.1M | 50x | as long as short |
| Binance CHIPUSDT | +0.0037% | 4h | 0.04676 | +0.021% | $14.1M | $26.2M | 50x | as long as short |
Backpack CHIP_USDC_PERP
ApeX Omni CHIPUSDT
Aftermath Perps CHIPUSD
BloFin CHIP-USDT
Deribit CHIP_USDC-PERPETUAL
Bybit CHIPUSDT
MEXC CHIP_USDT
Binance CHIPUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended CHIP-USD | +0.0040% | 1h | 0.04679 | +0.090% | $214K | $1.3M | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04678 | +0.064% | $87K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04693 | +0.385% | $14.8M | $6.8M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04685 | +0.214% | $51K | $237K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04688 | +0.272% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04688 | +0.278% | $693K | $912K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04680 | +0.107% | $987K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04677 | +0.043% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04677 | +0.043% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04704 | +0.630% | $885K | $468K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04676 | +0.021% | $818 | $1.1M | 10x | as long as short |
| Nado CHIP-PERP | +0.0315% | 1h | 0.04681 | +0.139% | $234K | $18K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0840% | 1h | 0.04739 | +1.363% | $46K | $41K | 50x | as long as short |
Extended CHIP-USD
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Nado CHIP-PERP
Coinbase International CHIP-PERP-INTX