Funding you earn now, next payment 01:00 UTC−0.0272%/8h= −29.7% APRpaid last 24h −0.081%
Price spread now: Phoenix against BingX−0.448%7-day average −0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs−$150as in the Funding arb table
Net, price: spread back to 7d avg − costs−$138as in the Price arb table
costs, in and out, $10k−$950.951% of the position
Funding, last 7 days−0.551%−$55 on $10k
+Price spread, last 4 days (all we have)+0.633%+$63 · spread now −0.448%, 7d avg −0.021%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phoenix is 0.427% cheaper against BingX than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of −0.021%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX CHIP-USDT | 0.04686 | 0.0100 | pay 0.0050% / 4h | 2h 23m | — | $1.9M | — |
| Short | Phoenix CHIP | 0.04665 | −0.0172 | pay 0.0021% / 1h | 23m 22s | $3K | $129K | 5x |
BingX CHIP-USDT
Phoenix CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against BingX. 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
- −$57.04
- Price spread: −0.448% → −0.021%
- −$42.69
- Slippage, 4 orders
- −$78.13
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$194.86
- Costs to cover
- 0.951%
- Break-even
- never at this rate
Slippage from BingX: live order book, 5 min ago; Phoenix: live order book, 37 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 BingX live order book, 5 min ago | 4.29 bp | 20.0 bp −$20 | 71.2 bp −$712 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 37 min ago | 4.30 bp | 26.2 bp −$26 | 71.3 bp −$713 | 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_PERP | −0.1178% | 1h | 0.04687 | +0.021% | $14K | $220K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0194% | 1h | 0.04670 | −0.341% | $16K | $244K | 50x | as long as short |
| Phoenix CHIPshort | −0.0172% | 1h | 0.04665 | −0.448% | $3K | $129K | 5x | |
| Nado CHIP-PERP | −0.0014% | 1h | 0.04689 | +0.064% | $236K | $19K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0002% | 4h | 0.04686 | 0.000% | $1.9M | $9.2M | 20x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0006% | 1h | 0.04693 | +0.154% | $10K | $24K | 10x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04691 | +0.107% | $87K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04701 | +0.327% | $14.8M | $6.1M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04692 | +0.124% | $36K | $254K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04694 | +0.162% | $13K | $628 | 3x | as long as short |
Backpack CHIP_USDC_PERP
ApeX Omni CHIPUSDT
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
Deribit CHIP_USDC-PERPETUAL
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDT | +0.0100% | 4h | 0.04686 | +0.004% | $14.1M | $25.9M | 50x | as long as short |
| Bybit CHIPUSDT | +0.0100% | 4h | 0.04693 | +0.149% | $10.9M | $8.6M | 20x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04692 | +0.128% | $694K | $952K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04687 | +0.021% | $1.8M | $1.1M | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04692 | +0.128% | $984K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04691 | +0.107% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDTlong | +0.0100% | 4h | 0.04686 | long leg | — | $1.9M | — | |
| Variational Omni CHIP | +0.0100% | 4h | 0.04669 | −0.358% | $878K | $459K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04684 | −0.043% | $652 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04685 | −0.016% | $213K | $1.9M | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0431% | 1h | 0.04672 | −0.305% | $93 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0848% | 1h | 0.04715 | +0.610% | $45K | $40K | 50x | as long as short |
Binance CHIPUSDT
Bybit CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX