Funding you earn now, next payment 04:00 UTC−0.0448%/8h= −49.1% APRpaid last 24h −0.142%
Price spread now: Backpack against SunX+0.764%49s7-day average +0.046% · you sell dearer than you buy
Net, funding: paid 7d − costs−$262as 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−$2852.854% of the position
Funding, last 7 days+0.233%+$23 on $10k
+Price spread, last 4 days (all we have)−1.129%−$113 · spread now +0.764%, 7d avg +0.046%
=The price spread pays, funding is against you. Backpack is 0.717% dearer against SunX than usual: you sell high and buy low (spread +0.764% now, against its 7-day average of +0.046%): +$72 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 5.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.233%, so the current rate has only just turned against you. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.233% in total (about 12.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SunX CHIP-USDT | 0.04714 | 0.0100 | pay 0.0050% / 4h | 6m 14s | $705 | $1.0M | 10x |
| Short | Backpack CHIP_USDC_PERP | 0.04750 | −0.0348 | pay 0.0044% / 1h | 6m 14s | $34K | $251K | 5x |
SunX CHIP-USDT
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against SunX. 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
- −$94.1
- Price spread: +0.764% → +0.046%
- $71.73
- Slippage, 4 orders
- −$267.37
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$307.74
- Costs to cover
- 2.854%
- Break-even
- never at this rate
Slippage from SunX: live order book, 6 min ago; Backpack: live order book, 52 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 SunX live order book, 6 min ago | 48.36 bp | 127.2 bp −$127 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 52 min ago | 2.13 bp | 13.8 bp −$14 | 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 CHIP | −0.0510% | 1h | 0.04765 | +1.082% | $3K | $129K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0364% | 1h | 0.04722 | +0.159% | $10K | $24K | 10x | as long as short |
| Backpack CHIP_USDC_PERPshort | −0.0348% | 1h | 0.04750 | +0.764% | $34K | $251K | 5x | |
| OKX CHIP-USDT-SWAP | −0.0334% | 4h | 0.04720 | +0.127% | $2.0M | $9.7M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0328% | 1h | 0.04758 | +0.933% | $16K | $244K | 50x | as long as short |
| Bybit CHIPUSDT | −0.0262% | 4h | 0.04721 | +0.148% | $10.8M | $9.1M | 20x | as long as short |
| Nado CHIP-PERP | −0.0125% | 1h | 0.04719 | +0.106% | $239K | $20K | 5x | as long as short |
| Aster CHIPUSDT | −0.0012% | 4h | 0.04725 | +0.226% | $56K | $279K | 5x | as long as short |
| MEXC CHIP_USDT | +0.0078% | 4h | 0.04721 | +0.148% | $1.8M | $1.2M | 50x | as long as short |
| Binance CHIPUSDT | +0.0079% | 4h | 0.04717 | +0.068% | $14.2M | $27.0M | 50x | as long as short |
Phoenix CHIP
Deribit CHIP_USDC-PERPETUAL
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 | 0.04718 | +0.088% | $215K | $1.9M | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04721 | +0.148% | $97K | $117K | 3x | as long as short |
| BloFin CHIP-USDT | +0.0097% | 4h | 0.04738 | +0.509% | $564K | $65K | 50x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04726 | +0.255% | $14.7M | $6.2M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04745 | +0.653% | $16K | $3K | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04722 | +0.170% | $685K | $987K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04721 | +0.148% | $982K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04720 | +0.127% | $2.0M | $3.4M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04720 | +0.127% | — | $2.0M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04765 | +1.084% | $848K | $527K | — | as long as short |
| SunX CHIP-USDTlong | +0.0100% | 4h | 0.04714 | long leg | $705 | $1.0M | 10x | |
| Aftermath Perps CHIPUSD | +0.0158% | 1h | 0.04757 | +0.904% | $100 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0736% | 1h | 0.04855 | +2.987% | $47K | $41K | 50x | as long as short |
Extended CHIP-USD
Lighter CHIP
BloFin CHIP-USDT
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX