Funding you earn now, next payment 22:00 UTC+0.1268%/8h= +138.8% APRnext payment +$1.58 per $10,000 · paid last 24h +0.068%
Price spread now: Lighter against Backpack+0.043%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$115as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$740.739% of the position
Funding, last 7 days−0.414%−$41 on $10k
+Price spread, last 4 days (all we have)−0.262%−$26 · spread now +0.043%, 7d avg +0.006%
=Together, before fees−0.676%+ Points / potential airdropLighter: Season 3 · farm board−$68 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$38 a day on $10k at the current rate, and Lighter is 0.037% dearer against Backpack than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.006%. Mind the row above: over the last 7 days funding on this pair cost −0.414%, 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 -0.414% in total (about -21.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.58 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 | 0.04618 | −0.1172 | get 0.0146% / 1h | 25m 56s | $16K | $234K | 5x |
| Short | Lighter CHIP | 0.04620 | 0.0096 | get 0.0012% / 1h | 25m 56s | $86K | $110K | 3x |
Backpack CHIP_USDC_PERP
Lighter CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $266.28
- Price spread: +0.043% → +0.006%
- $3.72
- Slippage, 4 orders
- −$63.85
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $196.15
- Costs to cover
- 0.739%
- Break-even
- 1.8 days
Slippage from Backpack: live order book, 62 min ago; Lighter: live order book, 55 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, 62 min ago | 3.21 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 55 min ago | 11.77 bp | 27.2 bp −$27 | 128.1 bp −$1,281 | 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 | −0.1172% | 1h | 0.04618 | long leg | $16K | $234K | 5x | |
| ApeX Omni CHIPUSDT | −0.0663% | 1h | 0.04590 | −0.606% | $14K | $249K | 50x | as long as short |
| Bybit CHIPUSDT | −0.0228% | 4h | 0.04620 | +0.043% | $10.8M | $8.9M | 20x | as long as short |
| Nado CHIP-PERP | −0.0187% | 1h | 0.04618 | 0.000% | $231K | $18K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0179% | 4h | 0.04617 | −0.022% | $1.9M | $9.2M | 20x | as long as short |
| Phoenix CHIP | −0.0173% | 1h | 0.04595 | −0.498% | $3K | $143K | 5x | as long as short |
| BloFin CHIP-USDT | −0.0163% | 4h | 0.04608 | −0.217% | $543K | $66K | 50x | as long as short |
| Binance CHIPUSDT | −0.0115% | 4h | 0.04613 | −0.112% | $13.9M | $25.7M | 50x | as long as short |
| MEXC CHIP_USDT | −0.0114% | 4h | 0.04614 | −0.087% | $1.8M | $1.2M | 50x | as long as short |
| Extended CHIP-USD | −0.0112% | 1h | 0.04615 | −0.065% | $210K | $1.3M | 5x | as long as short |
ApeX Omni CHIPUSDT
Bybit CHIPUSDT
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
Phoenix CHIP
BloFin CHIP-USDT
Binance CHIPUSDT
MEXC CHIP_USDT
Extended CHIP-USDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps CHIPUSD | −0.0076% | 1h | 0.04601 | −0.360% | $85 | $39K | 5x | as long as short |
| Aster CHIPUSDT | −0.0035% | 4h | 0.04620 | +0.035% | $43K | $226K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0031% | 1h | 0.04622 | +0.082% | $10K | $24K | 10x | as long as short |
| Lighter CHIPshort | +0.0096% | 1h | 0.04620 | +0.043% | $86K | $110K | 3x | |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04626 | +0.165% | $14.9M | $6.6M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04617 | −0.022% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04612 | −0.130% | $693K | $899K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04615 | −0.065% | $986K | $1.0M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04616 | −0.043% | $2.0M | $3.0M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04613 | −0.108% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04597 | −0.448% | $837K | $462K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04613 | −0.108% | $751 | $1.0M | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0816% | 1h | 0.04757 | +2.999% | $46K | $41K | 50x | as long as short |
Aftermath Perps CHIPUSD
Aster CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Coinbase International CHIP-PERP-INTX