Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0634%/8h= −69.4% APRpaid last 24h −0.015%

Price spread now: Bybit against Pacifica+0.292%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.292% dearer against Pacifica than usual: you sell high and buy low (spread +0.292% now, against zero (this spread has no 7-day history yet)): +$29 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CHIP	0.04684	0.0100	pay 0.0013% / 1h	57m 18s	$16K	$3K	3x
Short	Bybit CHIPUSDT	0.04698	−0.0534	pay 0.0267% / 4h	57m 18s	$10.8M	$8.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now +0.292%Rate

Funding earned: −$133.15
Price spread: +0.292% → 0.000%: $29.25
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$122.91
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Pacifica: no order-book sample; Bybit: live order book, 1 min ago. Net counts fees only.

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 Pacifica no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	1.07 bp	46.9 bp −$47	143.8 bp −$1,438	doesn't fit	doesn't fit

Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
ApeX Omni CHIPUSDT	−0.0682%	1h	0.04710	+0.549%	$16K	$245K	50x	as long as short
Bybit CHIPUSDTshort	−0.0534%	4h	0.04698	+0.292%	$10.8M	$8.9M	20x
Backpack CHIP_USDC_PERP	−0.0522%	1h	0.04690	+0.122%	$32K	$242K	5x	as long as short
Phoenix CHIP	−0.0337%	1h	0.04710	+0.549%	$3K	$129K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0328%	4h	0.04694	+0.207%	$2.0M	$9.5M	20x	as long as short
Aster CHIPUSDT	−0.0093%	4h	0.04690	+0.112%	$50K	$274K	5x	as long as short
BloFin CHIP-USDT	+0.0018%	4h	0.04689	+0.100%	$566K	$63K	50x	as long as short
Nado CHIP-PERP	+0.0036%	1h	0.04680	−0.081%	$237K	$20K	5x	as long as short
Extended CHIP-USD	+0.0072%	1h	0.04685	+0.013%	$214K	$1.9M	5x	as long as short
MEXC CHIP_USDT	+0.0074%	4h	0.04696	+0.250%	$1.8M	$1.2M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CHIPUSDT	+0.0075%	4h	0.04693	+0.186%	$14.2M	$26.6M	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04689	+0.100%	$87K	$107K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04691	+0.139%	$14.7M	$6.2M	3x	as long as short
Pacifica CHIPlong	+0.0100%	1h	0.04684	long leg	$16K	$3K	3x
Gate CHIP_USDT	+0.0100%	4h	0.04687	+0.058%	$683K	$948K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04695	+0.228%	$983K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04694	+0.207%	$2.0M	$3.3M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04685	+0.015%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04705	+0.432%	$838K	$529K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04686	+0.036%	$872	$1.0M	10x	as long as short
Aftermath Perps CHIPUSD	+0.0396%	1h	0.04715	+0.647%	$229	$38K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0736%	1h	0.04855	+3.640%	$47K	$42K	50x	as long as short
Deribit CHIP_USDC-PERPETUAL	+0.0921%	1h	0.04701	+0.363%	$10K	$24K	10x	as long as short