Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0774%/8h= +84.8% APRpaid last 24h +0.261%

Price spread now: Coinbase International against Bybit+3.605%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Coinbase International is 3.605% dearer against Bybit than usual: you sell high and buy low: +$360 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CHIPUSDT	0.04591	0.0050	pay 0.0025% / 4h	1h 26m	$10.7M	$8.9M	20x
Short	Coinbase International CHIP-PERP-INTX	0.04757	0.0824	get 0.0103% / 1h	26m 00s	$46K	$41K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +3.605%Rate

Funding earned: $162.54
Price spread: +3.605% → 0.000%: $360.49
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $502.02
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; Coinbase International: 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 Bybit live order book, 2 min ago	2.18 bp	31.5 bp −$31	141.2 bp −$1,412	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.1267%	1h	0.04587	−0.087%	$16K	$234K	5x	as long as short
Phoenix CHIP	−0.0352%	1h	0.04587	−0.087%	$3K	$143K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0178%	4h	0.04590	−0.022%	$1.9M	$9.1M	20x	as long as short
Aftermath Perps CHIPUSD	−0.0161%	1h	0.04593	+0.036%	$110	$39K	5x	as long as short
Nado CHIP-PERP	−0.0112%	1h	0.04592	+0.022%	$230K	$18K	5x	as long as short
MEXC CHIP_USDT	−0.0078%	4h	0.04592	+0.022%	$1.8M	$1.2M	50x	as long as short
Binance CHIPUSDT	−0.0074%	4h	0.04588	−0.076%	$13.8M	$26.0M	50x	as long as short
Extended CHIP-USD	−0.0072%	1h	0.04589	−0.050%	$209K	$1.3M	5x	as long as short
ApeX Omni CHIPUSDT	−0.0049%	1h	0.04598	+0.152%	$14K	$247K	50x	as long as short
BloFin CHIP-USDT	−0.0031%	4h	0.04591	0.000%	$538K	$67K	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CHIPUSDTlong	+0.0050%	4h	0.04591	long leg	$10.7M	$8.9M	20x
Aster CHIPUSDT	+0.0082%	4h	0.04590	−0.014%	$47K	$229K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04588	−0.065%	$85K	$109K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04594	+0.070%	$14.5M	$6.8M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04597	+0.122%	$13K	$628	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04595	+0.087%	$677K	$904K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04595	+0.087%	$979K	$1.0M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04592	+0.022%	$2.0M	$3.1M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04588	−0.065%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04593	+0.042%	$846K	$460K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04579	−0.261%	$691	$1.1M	10x	as long as short
Deribit CHIP_USDC-PERPETUAL	+0.0120%	1h	0.04598	+0.163%	$10K	$25K	10x	as long as short
Coinbase International CHIP-PERP-INTXshort	+0.0824%	1h	0.04757	+3.605%	$46K	$41K	50x