Funding you earn now, next payment 23:00 UTC+0.0215%/8h= +23.6% APRpaid last 24h +0.077%
Price spread now: MEXC against Phoenix−0.447%47s7-day average +0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs−$22as 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−$750.752% of the position
Funding, last 7 days+0.535%+$53 on $10k
+Price spread, last 3 days (all we have)+0.448%+$45 · spread now −0.447%, 7d avg +0.007%
=Funding pays, the price is against you. MEXC is 0.454% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.447% now, against its 7-day average of +0.007%). If the spread goes back, that is −$45 on $10k: about 7.0 days of funding at the current rate (+$6 a day). The two prices were read 47 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 | Phoenix CHIP | 0.04696 | −0.0173 | get 0.0022% / 1h | 30m 36s | $3K | $140K | 5x |
| Short | MEXC CHIP_USDT | 0.04675 | 0.0042 | get 0.0021% / 4h | 30m 36s | $1.8M | $1.1M | 50x |
Phoenix CHIP
MEXC CHIP_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $45.25
- Price spread: −0.447% → +0.007%
- −$45.42
- Slippage, 4 orders
- −$68.25
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$75.41
- Costs to cover
- 0.752%
- Break-even
- 18.7 days
Slippage from Phoenix: live order book, 40 min ago; MEXC: 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, 40 min ago | 4.34 bp | 26.4 bp −$26 | 78.5 bp −$785 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 1 min ago | 2.14 bp | 11.0 bp −$11 | 63.7 bp −$637 | 234.3 bp −$23.4K | 758.1 bp −$379.1K |
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 | −0.1327% | 1h | 0.04677 | −0.405% | $14K | $234K | 5x | as long as short |
| Phoenix CHIPlong | −0.0173% | 1h | 0.04696 | long leg | $3K | $140K | 5x | |
| ApeX Omni CHIPUSDT | −0.0137% | 1h | 0.04691 | −0.106% | $14K | $248K | 50x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0062% | 4h | 0.04676 | −0.426% | $1.9M | $9.3M | 20x | as long as short |
| Aftermath Perps CHIPUSD | −0.0031% | 1h | 0.04696 | −0.010% | $87 | $39K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04681 | −0.319% | $10K | $24K | 10x | as long as short |
| Bybit CHIPUSDT | +0.0019% | 4h | 0.04680 | −0.341% | $10.9M | $8.9M | 20x | as long as short |
| Extended CHIP-USD | +0.0040% | 1h | 0.04677 | −0.411% | $214K | $1.3M | 5x | as long as short |
| MEXC CHIP_USDTshort | +0.0042% | 4h | 0.04675 | −0.447% | $1.8M | $1.1M | 50x | |
| Binance CHIPUSDT | +0.0042% | 4h | 0.04680 | −0.341% | $14.1M | $26.1M | 50x | as long as short |
Backpack CHIP_USDC_PERP
ApeX Omni CHIPUSDT
OKX CHIP-USDT-SWAP
Aftermath Perps CHIPUSD
Deribit CHIP_USDC-PERPETUAL
Bybit CHIPUSDT
Extended CHIP-USD
Binance CHIPUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin CHIP-USDT | +0.0074% | 4h | 0.04678 | −0.383% | $550K | $66K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04678 | −0.383% | $87K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04689 | −0.158% | $14.8M | $6.8M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04681 | −0.318% | $50K | $237K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04680 | −0.349% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04682 | −0.298% | $693K | $912K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04675 | −0.447% | $986K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04677 | −0.405% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04678 | −0.383% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04678 | −0.384% | $877K | $468K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04677 | −0.405% | $654 | $1.1M | 10x | as long as short |
| Nado CHIP-PERP | +0.0302% | 1h | 0.04677 | −0.394% | $234K | $18K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0840% | 1h | 0.04739 | +0.909% | $46K | $41K | 50x | as long as short |
BloFin CHIP-USDT
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