Funding you earn now, next payment 03:00 UTC+0.0610%/8h= +66.8% APRnext payment +$0.76 per $10,000 · paid last 24h +0.101%
Price spread now: Hyperliquid against Phoenix−0.231%7-day average +0.198% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$136as in the Price arb table
costs, in and out, $10k−$930.932% of the position
Funding, last 7 days+0.671%+$67 on $10k
+Price spread, last 4 days (all we have)+0.437%+$44 · spread now −0.231%, 7d avg +0.198%
=Together, before fees+1.108%+ Points / potential airdropHyperliquid: Season 2 · farm board+$111 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.429% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.231% now, against its 7-day average of +0.198%). If the spread goes back, that is −$43 on $10k: about 2.3 days of funding at the current rate (+$18 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix CHIP | 0.04765 | −0.0510 | get 0.0064% / 1h | 6m 39s | $3K | $129K | 5x |
| Short | Hyperliquid CHIP | 0.04754 | 0.0100 | get 0.0013% / 1h | 6m 39s | $14.7M | $6.2M | 3x |
Phoenix CHIP
Hyperliquid CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $128.05
- Price spread: −0.231% → +0.198%
- −$42.87
- Slippage, 4 orders
- −$77.23
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$8.05
- Costs to cover
- 0.932%
- Break-even
- 7.4 days
Slippage from Phoenix: live order book, 44 min ago; Hyperliquid: live order book, 6 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, 44 min ago | 4.29 bp | 26.2 bp −$26 | 79.1 bp −$791 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 6 min ago | 1.26 bp | 24.5 bp −$24 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix CHIPlong | −0.0510% | 1h | 0.04765 | long leg | $3K | $129K | 5x | |
| Deribit CHIP_USDC-PERPETUAL | −0.0508% | 1h | 0.04748 | −0.353% | $10K | $24K | 10x | as long as short |
| Backpack CHIP_USDC_PERP | −0.0348% | 1h | 0.04750 | −0.315% | $34K | $251K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0334% | 4h | 0.04728 | −0.776% | $2.0M | $9.7M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0328% | 1h | 0.04758 | −0.147% | $16K | $244K | 50x | as long as short |
| Bybit CHIPUSDT | −0.0262% | 4h | 0.04747 | −0.378% | $10.9M | $9.1M | 20x | as long as short |
| Nado CHIP-PERP | −0.0124% | 1h | 0.04744 | −0.441% | $240K | $20K | 5x | as long as short |
| Aster CHIPUSDT | −0.0012% | 4h | 0.04751 | −0.300% | $56K | $279K | 5x | as long as short |
| MEXC CHIP_USDT | +0.0078% | 4h | 0.04742 | −0.483% | $1.8M | $1.2M | 50x | as long as short |
| Binance CHIPUSDT | +0.0079% | 4h | 0.04742 | −0.483% | $14.3M | $26.9M | 50x | as long as short |
Deribit CHIP_USDC-PERPETUAL
Backpack CHIP_USDC_PERP
OKX CHIP-USDT-SWAP
ApeX Omni CHIPUSDT
Bybit CHIPUSDT
Nado CHIP-PERP
Aster 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 | +0.0080% | 1h | 0.04716 | −1.025% | $215K | $1.9M | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04747 | −0.378% | $97K | $117K | 3x | as long as short |
| BloFin CHIP-USDT | +0.0097% | 4h | 0.04738 | −0.567% | $564K | $65K | 50x | as long as short |
| Hyperliquid CHIPshort | +0.0100% | 1h | 0.04754 | −0.231% | $14.7M | $6.2M | 3x | |
| Pacifica CHIP | +0.0100% | 1h | 0.04745 | −0.424% | $16K | $3K | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04750 | −0.315% | $689K | $987K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04747 | −0.378% | $987K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04722 | −0.902% | $2.0M | $3.4M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04718 | −0.986% | — | $2.0M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04765 | +0.002% | $848K | $527K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04745 | −0.420% | $884 | $1.0M | 10x | as long as short |
| Aftermath Perps CHIPUSD | +0.0167% | 1h | 0.04760 | −0.115% | $84 | $37K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0736% | 1h | 0.04855 | +1.885% | $47K | $41K | 50x | as long as short |
Extended CHIP-USD
Lighter CHIP
BloFin CHIP-USDT
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX