Funding you earn now, next payment 21:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h +0.056%
Price spread now: Bybit against Phoenix+0.374%7-day average +0.067% · you sell dearer than you buy
Net, funding: paid 7d − costs−$73as in the Funding arb table
Net, price: spread back to 7d avg − costs−$85as in the Price arb table
costs, in and out, $10k−$1161.156% of the position
Funding, last 7 days+0.429%+$43 on $10k
+Price spread, last 3 days (all we have)−0.239%−$24 · spread now +0.374%, 7d avg +0.067%
=The price spread pays, funding is against you. Bybit is 0.307% dearer against Phoenix than usual: you sell high and buy low (spread +0.374% now, against its 7-day average of +0.067%): +$31 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 27 days. Mind the row above: over the last 7 days funding on this pair paid +0.429%, 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 | Phoenix CHIP | 0.04548 | −0.0173 | get 0.0022% / 1h | 57m 05s | $3K | $143K | 5x |
| Short | Bybit CHIPUSDT | 0.04565 | −0.0211 | pay 0.0106% / 4h | 1h 57m | $10.7M | $9.0M | 20x |
Phoenix CHIP
Bybit CHIPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phoenix. 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
- −$8.04
- Price spread: +0.374% → +0.067%
- $30.69
- Slippage, 4 orders
- −$97.65
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$93
- Costs to cover
- 1.156%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 19 min ago; Bybit: live order book, 1 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 Phoenix live order book, 19 min ago | 4.35 bp | 26.5 bp −$26 | 78.7 bp −$787 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 3.30 bp | 29.4 bp −$29 | 127.8 bp −$1,278 | 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 | −0.0931% | 1h | 0.04563 | +0.330% | $16K | $234K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0656% | 1h | 0.04540 | −0.176% | $14K | $249K | 50x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0263% | 4h | 0.04567 | +0.418% | $1.9M | $9.1M | 20x | as long as short |
| Nado CHIP-PERP | −0.0235% | 1h | 0.04550 | +0.055% | $228K | $18K | 5x | as long as short |
| Bybit CHIPUSDTshort | −0.0211% | 4h | 0.04565 | +0.374% | $10.7M | $9.0M | 20x | |
| Phoenix CHIPlong | −0.0173% | 1h | 0.04548 | long leg | $3K | $143K | 5x | |
| Aftermath Perps CHIPUSD | −0.0155% | 1h | 0.04555 | +0.156% | $109 | $39K | 5x | as long as short |
| BloFin CHIP-USDT | −0.0141% | 4h | 0.04556 | +0.176% | $544K | $65K | 50x | as long as short |
| MEXC CHIP_USDT | −0.0130% | 4h | 0.04558 | +0.220% | $1.8M | $1.2M | 50x | as long as short |
| Binance CHIPUSDT | −0.0129% | 4h | 0.04563 | +0.336% | $13.7M | $26.0M | 50x | as long as short |
Backpack CHIP_USDC_PERP
ApeX Omni CHIPUSDT
OKX CHIP-USDT-SWAP
Nado CHIP-PERP
Aftermath Perps CHIPUSD
BloFin CHIP-USDT
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 | −0.0128% | 1h | 0.04559 | +0.249% | $206K | $1.3M | 5x | as long as short |
| Aster CHIPUSDT | +0.0002% | 4h | 0.04561 | +0.287% | $47K | $228K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0057% | 1h | 0.04565 | +0.378% | $9K | $25K | 10x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04559 | +0.242% | $85K | $109K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04569 | +0.455% | $14.4M | $6.8M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04551 | +0.059% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04557 | +0.198% | $675K | $900K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04555 | +0.154% | $973K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04562 | +0.308% | $2.0M | $3.1M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04564 | +0.352% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04545 | −0.058% | $835K | $472K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04555 | +0.154% | $889 | $1.1M | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0824% | 1h | 0.04757 | +4.584% | $46K | $41K | 50x | as long as short |
Extended CHIP-USD
Aster CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
Lighter CHIP
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Coinbase International CHIP-PERP-INTX