Funding you earn now, next payment 23:00 UTC+0.1201%/8h= +131.6% APRnext payment +$1.50 per $10,000 · paid last 24h +0.010%
Price spread now: ApeX Omni against Backpack−0.261%84s7-day average −0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$132as 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−$550.548% of the position
Funding, last 7 days−0.774%−$77 on $10k
+Price spread, last 3 days (all we have)+0.364%+$36 · spread now −0.261%, 7d avg −0.019%
=Funding pays, the price is against you. ApeX Omni is 0.243% cheaper against Backpack than usual: you would sell low and buy high (spread −0.261% now, against its 7-day average of −0.019%). If the spread goes back, that is −$24 on $10k: about 16 hours of funding at the current rate (+$36 a day). Mind the row above: over the last 7 days funding on this pair cost −0.774%, so the current rate has only just turned in your favour. The two prices were read 84 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 -0.774% in total (about -40.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.50 per $10,000. 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 | Backpack CHIP_USDC_PERP | 0.04592 | −0.1270 | get 0.0159% / 1h | 32m 12s | $16K | $234K | 5x |
| Short | ApeX Omni CHIPUSDT | 0.04580 | −0.0069 | pay 0.0009% / 1h | 32m 12s | $14K | $247K | 50x |
Backpack CHIP_USDC_PERP
ApeX Omni CHIPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Backpack. 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
- $252.3
- Price spread: −0.261% → −0.019%
- −$24.26
- Slippage, 4 orders
- −$34.82
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- $173.22
- Costs to cover
- 0.548%
- Break-even
- 2.2 days
Slippage from Backpack: live order book, 51 min ago; ApeX Omni: live order book, 49 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 Backpack live order book, 51 min ago | 2.17 bp | 9.9 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 49 min ago | 6.52 bp | 17.8 bp −$18 | 127.8 bp −$1,278 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CHIP_USDC_PERPlong | −0.1270% | 1h | 0.04592 | long leg | $16K | $234K | 5x | |
| Phoenix CHIP | −0.0352% | 1h | 0.04595 | +0.065% | $3K | $143K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0203% | 4h | 0.04591 | −0.022% | $1.9M | $9.1M | 20x | as long as short |
| Aftermath Perps CHIPUSD | −0.0174% | 1h | 0.04587 | −0.107% | $110 | $39K | 5x | as long as short |
| Nado CHIP-PERP | −0.0128% | 1h | 0.04594 | +0.054% | $230K | $18K | 5x | as long as short |
| Binance CHIPUSDT | −0.0097% | 4h | 0.04595 | +0.065% | $13.8M | $26.0M | 50x | as long as short |
| Extended CHIP-USD | −0.0096% | 1h | 0.04593 | +0.015% | $209K | $1.3M | 5x | as long as short |
| MEXC CHIP_USDT | −0.0096% | 4h | 0.04595 | +0.065% | $1.8M | $1.2M | 50x | as long as short |
| ApeX Omni CHIPUSDTshort | −0.0069% | 1h | 0.04580 | −0.261% | $14K | $247K | 50x | |
| BloFin CHIP-USDT | −0.0052% | 4h | 0.04591 | −0.022% | $541K | $67K | 50x | as long as short |
Phoenix CHIP
OKX CHIP-USDT-SWAP
Aftermath Perps CHIPUSD
Nado CHIP-PERP
Binance CHIPUSDT
Extended CHIP-USD
MEXC CHIP_USDT
BloFin CHIP-USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CHIPUSDT | +0.0014% | 4h | 0.04597 | +0.109% | $10.7M | $9.0M | 20x | as long as short |
| Aster CHIPUSDT | +0.0068% | 4h | 0.04593 | +0.026% | $48K | $229K | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04595 | +0.065% | $85K | $109K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04599 | +0.155% | $14.5M | $6.8M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04595 | +0.063% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04593 | +0.022% | $678K | $903K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04595 | +0.065% | $979K | $1.0M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04593 | +0.022% | $2.0M | $3.1M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04591 | −0.022% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04580 | −0.251% | $843K | $465K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04592 | 0.000% | $1K | $1.1M | 10x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0163% | 1h | 0.04598 | +0.135% | $10K | $25K | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0824% | 1h | 0.04757 | +3.582% | $46K | $41K | 50x | as long as short |
Bybit CHIPUSDT
Aster CHIPUSDT
Lighter CHIP
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Deribit CHIP_USDC-PERPETUAL
Coinbase International CHIP-PERP-INTX