Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0019%/8h= +2.0% APRpaid last 24h +0.048%

Price spread now: Aftermath Perps against Variational Omni−0.159%52s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Aftermath Perps is 0.159% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.159% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 29 days of funding at the current rate (+$1 a day). The two prices were read 52 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	Variational Omni CHIP	0.04672	0.0100	pay 0.0050% / 4h	2h 32m	$822K	$481K	—
Short	Aftermath Perps CHIPUSD	0.04665	0.0119	get 0.0015% / 1h	32m 37s	$110	$37K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee Aftermath PerpsbpOrdersPrice spread, now −0.159%Rate

Funding earned: $3.89
Price spread: −0.159% → 0.000%: −$15.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$20.96
Costs to cover: 0.090%
Break-even: 44.7 days

Slippage unknown: Variational Omni: RFQ quote, 16 min ago; Aftermath Perps: no order-book sample. 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 Variational Omni RFQ quote, 16 min ago	5.37 bp	doesn't fit	104.2 bp −$1,042	doesn't fit	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath Perps: 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	−0.0634%	1h	0.04690	+0.379%	$16K	$246K	50x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0612%	1h	0.04636	−0.772%	$9K	$24K	10x	as long as short
Bybit CHIPUSDT	−0.0483%	4h	0.04644	−0.605%	$10.5M	$9.1M	20x	as long as short
OKX CHIP-USDT-SWAP	−0.0284%	4h	0.04640	−0.691%	$2.0M	$9.5M	20x	as long as short
Phoenix CHIP	−0.0171%	1h	0.04672	−0.006%	$3K	$129K	5x	as long as short
Nado CHIP-PERP	−0.0080%	1h	0.04639	−0.712%	$235K	$18K	5x	as long as short
KuCoin CHIPUSDTM	+0.0018%	4h	0.04640	−0.691%	$976K	$1.2M	50x	as long as short
BloFin CHIP-USDT	+0.0071%	4h	0.04633	−0.841%	$555K	$64K	50x	as long as short
Binance CHIPUSDT	+0.0094%	4h	0.04638	−0.728%	$13.9M	$27.1M	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04642	−0.648%	$96K	$113K	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid CHIP	+0.0100%	1h	0.04648	−0.524%	$14.4M	$6.1M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04639	−0.716%	$55K	$279K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04641	−0.669%	$16K	$3K	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04645	−0.584%	$663K	$973K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04639	−0.712%	$1.7M	$1.2M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04636	−0.776%	$1.9M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04640	−0.691%	—	$2.0M	—	as long as short
Variational Omni CHIPlong	+0.0100%	4h	0.04672	long leg	$822K	$481K	—
SunX CHIP-USDT	+0.0100%	4h	0.04633	−0.841%	$903	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04637	−0.760%	$211K	$1.0M	5x	as long as short
Aftermath Perps CHIPUSDshort	+0.0119%	1h	0.04665	−0.159%	$110	$37K	5x
Backpack CHIP_USDC_PERP	+0.0175%	1h	0.04639	−0.712%	$34K	$234K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0848%	1h	0.04717	+0.962%	$45K	$37K	50x	as long as short