Funding you earn now, next payment 03:00 UTC+0.1374%/8h= +150.5% APRpaid last 24h +0.133%
Price spread now: MEXC against Backpack−0.063%7-day average −0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$90as in the Funding arb table
Net, price: spread back to 7d avg − costs−$68as in the Price arb table
costs, in and out, $10k−$640.641% of the position
Funding, last 7 days−0.263%−$26 on $10k
+Price spread, last 4 days (all we have)−0.006%−$1 · spread now −0.063%, 7d avg −0.023%
=Funding pays, the price is against you. MEXC is 0.040% cheaper against Backpack than usual: you would sell low and buy high (spread −0.063% now, against its 7-day average of −0.023%). If the spread goes back, that is −$4 on $10k: about 2 hours of funding at the current rate (+$41 a day). Mind the row above: over the last 7 days funding on this pair cost −0.263%, 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 -0.263% in total (about -13.7% 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 | 0.04764 | −0.1274 | get 0.0159% / 1h | 37m 01s | $28K | $235K | 5x |
| Short | MEXC CHIP_USDT | 0.04761 | 0.0100 | get 0.0050% / 4h | 1h 37m | $1.8M | $1.1M | 50x |
Backpack CHIP_USDC_PERP
MEXC CHIP_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $288.62
- Price spread: −0.063% → −0.023%
- −$4.03
- Slippage, 4 orders
- −$54.14
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- $220.45
- Costs to cover
- 0.641%
- Break-even
- 1.7 days
Slippage from Backpack: live order book, 26 min ago; MEXC: 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, 26 min ago | 2.10 bp | 11.7 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 10 min ago | 3.15 bp | 24.5 bp −$25 | 100.5 bp −$1,005 | 291.5 bp −$29.1K | 909.4 bp −$454.7K |
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 | −0.1274% | 1h | 0.04764 | long leg | $28K | $235K | 5x | |
| ApeX Omni CHIPUSDT | −0.0441% | 1h | 0.04747 | −0.357% | $17K | $244K | 50x | as long as short |
| Bybit CHIPUSDT | −0.0390% | 4h | 0.04764 | 0.000% | $11.0M | $8.8M | 20x | as long as short |
| Phoenix CHIP | −0.0337% | 1h | 0.04761 | −0.063% | $3K | $130K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0187% | 4h | 0.04762 | −0.042% | $2.0M | $9.5M | 20x | as long as short |
| Aster CHIPUSDT | +0.0002% | 4h | 0.04762 | −0.041% | $46K | $271K | 5x | as long as short |
| BloFin CHIP-USDT | +0.0058% | 4h | 0.04757 | −0.147% | $568K | $63K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0064% | 1h | 0.04773 | +0.187% | $10K | $24K | 10x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04767 | +0.063% | $88K | $107K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04778 | +0.285% | $15.0M | $6.0M | 3x | as long as short |
ApeX Omni CHIPUSDT
Bybit CHIPUSDT
Phoenix CHIP
OKX CHIP-USDT-SWAP
Aster CHIPUSDT
BloFin CHIP-USDT
Deribit CHIP_USDC-PERPETUAL
Lighter CHIP
Hyperliquid CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CHIP | +0.0100% | 1h | 0.04761 | −0.059% | $14K | $689 | 3x | as long as short |
| Binance CHIPUSDT | +0.0100% | 4h | 0.04760 | −0.079% | $14.4M | $26.2M | 50x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04761 | −0.063% | $703K | $946K | 50x | as long as short |
| MEXC CHIP_USDTshort | +0.0100% | 4h | 0.04761 | −0.063% | $1.8M | $1.1M | 50x | |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04763 | −0.021% | $1.0M | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04765 | +0.021% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04762 | −0.042% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04739 | −0.534% | $843K | $528K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04757 | −0.147% | $881 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04757 | −0.143% | $216K | $1.9M | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0351% | 1h | 0.04757 | −0.143% | $141 | $38K | 5x | as long as short |
| Nado CHIP-PERP | +0.0579% | 1h | 0.04760 | −0.084% | $240K | $19K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0832% | 1h | 0.04788 | +0.510% | $46K | $41K | 50x | as long as short |
Pacifica CHIP
Binance CHIPUSDT
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Aftermath Perps CHIPUSD
Nado CHIP-PERP
Coinbase International CHIP-PERP-INTX