Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.071%

Price spread now: Deribit against Bitget+0.105%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.105% dearer against Bitget than usual: you sell high and buy low (spread +0.105% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CHIPUSDT	0.04658	0.0100	pay 0.0050% / 4h	1m 11s	$2.0M	$3.2M	50x
Short	Deribit CHIP_USDC-PERPETUAL	0.04663	0	get 0.0000% / 1h	1m 11s	$10K	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BitgetbpFee DeribitbpOrdersPrice spread, now +0.105%Rate

Funding earned: −$21
Price spread: +0.105% → 0.000%: $10.52
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$29.48
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 6 min ago; Deribit: no order-book sample. Net counts fees only.

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 Bitget live order book, 6 min ago	4.30 bp	18.9 bp −$19	55.5 bp −$555	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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_PERP	−0.1173%	1h	0.04660	+0.043%	$15K	$236K	5x	as long as short
Phoenix CHIP	−0.0173%	1h	0.04660	+0.043%	$3K	$140K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0074%	1h	0.04654	−0.086%	$14K	$248K	50x	as long as short
OKX CHIP-USDT-SWAP	−0.0034%	4h	0.04655	−0.064%	$1.9M	$9.2M	20x	as long as short
Deribit CHIP_USDC-PERPETUALshort	0.0000%	1h	0.04663	+0.105%	$10K	$24K	10x
BloFin CHIP-USDT	+0.0046%	4h	0.04660	+0.043%	$549K	$66K	50x	as long as short
Bybit CHIPUSDT	+0.0093%	4h	0.04661	+0.064%	$10.9M	$8.9M	20x	as long as short
Lighter CHIP	+0.0096%	1h	0.04662	+0.086%	$86K	$108K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04673	+0.331%	$14.7M	$6.8M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04660	+0.040%	$47K	$241K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CHIP	+0.0100%	1h	0.04660	+0.043%	$13K	$628	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04658	0.000%	$14.0M	$26.2M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04656	−0.043%	$688K	$914K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04657	−0.021%	$1.8M	$1.1M	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04657	−0.021%	$983K	$1.1M	50x	as long as short
Bitget CHIPUSDTlong	+0.0100%	4h	0.04658	long leg	$2.0M	$3.2M	50x
BingX CHIP-USDT	+0.0100%	4h	0.04657	−0.021%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04659	+0.029%	$873K	$469K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04657	−0.021%	$979	$1.1M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04657	−0.030%	$211K	$1.3M	5x	as long as short
Nado CHIP-PERP	+0.0108%	1h	0.04656	−0.032%	$233K	$18K	5x	as long as short
Aftermath Perps CHIPUSD	+0.0307%	1h	0.04660	+0.033%	$140	$39K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0840%	1h	0.04715	+1.228%	$45K	$40K	50x	as long as short