Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.048%

Price spread now: Variational Omni against Aftermath Perps+0.297%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on Variational Omni

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

The price spread pays, funding is against you. Variational Omni is 0.297% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.297% now, against zero (this spread has no 7-day history yet)): +$30 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 30 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps CHIPUSD	0.04737	0.0133	pay 0.0017% / 1h	56m 56s	$100	$38K	5x
Short	Variational Omni CHIP	0.04751	0.0100	get 0.0050% / 4h	3h 56m	$844K	$527K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 Aftermath PerpsbpFee Variational OmnibpOrdersPrice spread, now +0.297%Rate

Funding earned: −$6.84
Price spread: +0.297% → 0.000%: $29.74
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $13.9
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Aftermath Perps: no order-book sample; Variational Omni: RFQ quote, 62 min ago. 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 62 min ago	6.38 bp	doesn't fit	150.9 bp −$1,509	doesn't fit	doesn't fit

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
Phoenix CHIP	−0.0510%	1h	0.04729	−0.171%	$3K	$137K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0313%	4h	0.04702	−0.741%	$2.0M	$9.7M	20x	as long as short
Gate CHIP_USDT	−0.0312%	4h	0.04710	−0.572%	$682K	$978K	50x	as long as short
ApeX Omni CHIPUSDT	−0.0310%	1h	0.04727	−0.213%	$16K	$244K	50x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0111%	1h	0.04708	−0.614%	$10K	$24K	10x	as long as short
Backpack CHIP_USDC_PERP	−0.0101%	1h	0.04705	−0.677%	$34K	$251K	5x	as long as short
Nado CHIP-PERP	−0.0041%	1h	0.04709	−0.582%	$238K	$20K	5x	as long as short
Aster CHIPUSDT	+0.0001%	4h	0.04711	−0.556%	$56K	$279K	5x	as long as short
BloFin CHIP-USDT	+0.0071%	4h	0.04704	−0.698%	$563K	$65K	50x	as long as short
MEXC CHIP_USDT	+0.0092%	4h	0.04707	−0.635%	$1.8M	$1.2M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CHIPUSDT	+0.0093%	4h	0.04701	−0.762%	$14.2M	$27.0M	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04705	−0.677%	$96K	$114K	3x	as long as short
Extended CHIP-USD	+0.0096%	1h	0.04705	−0.673%	$214K	$1.9M	5x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04708	−0.622%	$14.6M	$6.2M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04720	−0.361%	$16K	$3K	3x	as long as short
Bybit CHIPUSDT	+0.0100%	4h	0.04703	−0.719%	$10.8M	$9.1M	20x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04710	−0.572%	$974K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04705	−0.677%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04699	−0.804%	—	$2.0M	—	as long as short
Variational Omni CHIPshort	+0.0100%	4h	0.04751	+0.297%	$844K	$527K	—
SunX CHIP-USDT	+0.0100%	4h	0.04703	−0.719%	$800	$1.0M	10x	as long as short
Aftermath Perps CHIPUSDlong	+0.0133%	1h	0.04737	long leg	$100	$38K	5x
Coinbase International CHIP-PERP-INTX	+0.0744%	1h	0.04765	+0.589%	$46K	$41K	50x	as long as short