Funding you earn now, next payment 01:00 UTC−0.0950%/8h= −104.0% APRpaid last 24h −0.109%
Price spread now: Backpack against Binance+0.299%7-day average +0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$650.647% of the position
Funding, last 7 days+0.303%+$30 on $10k
+Price spread, last 4 days (all we have)−0.189%−$19 · spread now +0.299%, 7d avg +0.032%
=The price spread pays, funding is against you. Backpack is 0.268% dearer against Binance than usual: you sell high and buy low (spread +0.299% now, against its 7-day average of +0.032%): +$27 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 23 hours. Mind the row above: over the last 7 days funding on this pair paid +0.303%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.303% in total (about 15.8% 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 | Binance CHIPUSDT | 0.04677 | 0.0100 | pay 0.0050% / 4h | 3h 13m | $14.1M | $26.0M | 50x |
| Short | Backpack CHIP_USDC_PERP | 0.04691 | −0.0850 | pay 0.0106% / 1h | 13m 56s | $14K | $229K | 5x |
Binance CHIPUSDT
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- −$199.48
- Price spread: +0.299% → +0.032%
- $26.76
- Slippage, 4 orders
- −$44.68
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$237.4
- Costs to cover
- 0.647%
- Break-even
- never at this rate
Slippage from Binance: live order book, 12 min ago; Backpack: live order book, 59 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 Binance live order book, 12 min ago | 3.24 bp | 16.8 bp −$17 | 76.0 bp −$760 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 59 min ago | 1.08 bp | 16.2 bp −$16 | doesn't fit | 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_PERPshort | −0.0850% | 1h | 0.04691 | +0.299% | $14K | $229K | 5x | |
| ApeX Omni CHIPUSDT | −0.0296% | 1h | 0.04659 | −0.385% | $17K | $249K | 50x | as long as short |
| Phoenix CHIP | −0.0172% | 1h | 0.04652 | −0.535% | $3K | $140K | 5x | as long as short |
| Nado CHIP-PERP | −0.0139% | 1h | 0.04685 | +0.182% | $234K | $18K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0008% | 4h | 0.04679 | +0.043% | $2.0M | $9.1M | 20x | as long as short |
| BloFin CHIP-USDT | +0.0059% | 4h | 0.04670 | −0.150% | $552K | $65K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04689 | +0.257% | $87K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04700 | +0.483% | $14.7M | $6.5M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04695 | +0.379% | $49K | $238K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04680 | +0.064% | $13K | $628 | 3x | as long as short |
ApeX Omni CHIPUSDT
Phoenix CHIP
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
BloFin CHIP-USDT
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDTlong | +0.0100% | 4h | 0.04677 | long leg | $14.1M | $26.0M | 50x | |
| Bybit CHIPUSDT | +0.0100% | 4h | 0.04682 | +0.107% | $10.9M | $8.7M | 20x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04681 | +0.086% | $693K | $911K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04678 | +0.021% | $1.8M | $1.2M | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04684 | +0.150% | $979K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04681 | +0.086% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04678 | +0.021% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04671 | −0.122% | $877K | $467K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04686 | +0.192% | $962 | $1.1M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04677 | −0.001% | $212K | $1.9M | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0334% | 1h | 0.04661 | −0.337% | $144 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0928% | 1h | 0.04680 | +0.071% | $45K | $40K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.1626% | 1h | 0.04700 | +0.483% | $10K | $24K | 10x | as long as short |
Bybit CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX
Deribit CHIP_USDC-PERPETUAL