Funding you earn now, next payment 02:00 UTC+0.1333%/8h= +146.0% APRpaid last 24h +0.111%
Price spread now: KuCoin against Backpack+0.148%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$177as in the Funding arb table
Net, price: spread back to 7d avg − costs−$117as in the Price arb table
costs, in and out, $10k−$1281.285% of the position
Funding, last 7 days−0.483%−$48 on $10k
+Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.148%, 7d avg +0.037%
=Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and KuCoin is 0.111% dearer against Backpack than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.037%. Mind the row above: over the last 7 days funding on this pair cost −0.483%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.483% in total (about -25.2% 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 | Backpack CHIP_USDC_PERP | 0.04740 | −0.1233 | get 0.0154% / 1h | 19m 57s | $16K | $221K | 5x |
| Short | KuCoin CHIPUSDTM | 0.04747 | 0.0100 | get 0.0050% / 4h | 2h 19m | $990K | $1.1M | 50x |
Backpack CHIP_USDC_PERP
KuCoin CHIPUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $279.97
- Price spread: +0.148% → +0.037%
- $11.07
- Slippage, 4 orders
- −$106.45
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- $162.59
- Costs to cover
- 1.285%
- Break-even
- 2.9 days
Slippage from Backpack: live order book, 48 min ago; KuCoin: live order book, 10 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, 48 min ago | 1.07 bp | 10.8 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 10 min ago | 10.75 bp | 30.6 bp −$31 | 466.5 bp −$4,665 | doesn't fit | doesn't fit |
CHIP on 22 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 | −0.1233% | 1h | 0.04740 | long leg | $16K | $221K | 5x | |
| Phoenix CHIP | −0.0172% | 1h | 0.04665 | −1.582% | $3K | $129K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0165% | 1h | 0.04701 | −0.823% | $16K | $244K | 50x | as long as short |
| Nado CHIP-PERP | −0.0024% | 1h | 0.04719 | −0.443% | $238K | $19K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0018% | 4h | 0.04746 | +0.127% | $2.0M | $9.3M | 20x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04732 | −0.169% | $88K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04745 | +0.097% | $15.0M | $6.2M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04732 | −0.177% | $37K | $255K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04714 | −0.540% | $14K | $628 | 3x | as long as short |
| Binance CHIPUSDT | +0.0100% | 4h | 0.04745 | +0.105% | $14.3M | $26.0M | 50x | as long as short |
Phoenix CHIP
ApeX Omni CHIPUSDT
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIP
Binance CHIPUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CHIPUSDT | +0.0100% | 4h | 0.04750 | +0.211% | $11.1M | $8.7M | 20x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04729 | −0.232% | $698K | $954K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04742 | +0.042% | $1.8M | $1.1M | 50x | as long as short |
| KuCoin CHIPUSDTMshort | +0.0100% | 4h | 0.04747 | +0.148% | $990K | $1.1M | 50x | |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04748 | +0.169% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04741 | +0.021% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04714 | −0.546% | $892K | $464K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04710 | −0.633% | $625 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04744 | +0.079% | $216K | $1.9M | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0415% | 1h | 0.04686 | −1.144% | $94 | $38K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0680% | 1h | 0.04738 | −0.051% | $10K | $24K | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0848% | 1h | 0.04738 | −0.034% | $46K | $40K | 50x | as long as short |
Bybit CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Aftermath Perps CHIPUSD
Deribit CHIP_USDC-PERPETUAL
Coinbase International CHIP-PERP-INTX