Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0845%/8h= −92.6% APRpaid last 24h −0.250%

Price spread now: BloFin against Coinbase International−0.714%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on BloFin

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 against this trade now: funding costs −$25 a day on $10k at the current rate, and BloFin is 0.714% cheaper against Coinbase International than usual: you would sell low and buy high (−$71 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CHIP-PERP-INTX	0.04735	0.0952	pay 0.0119% / 1h	54m 44s	$45K	$37K	50x
Short	BloFin CHIP-USDT	0.04701	0.0107	get 0.0053% / 4h	1h 54m	$558K	$66K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now −0.714%Rate

Funding earned: −$177.51
Price spread: −0.714% → 0.000%: −$71.39
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$270.9
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; BloFin: live order book, 31 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell BloFin live order book, 31 min ago	6.49 bp	21.1 bp −$21	65.5 bp −$655	doesn't fit	doesn't fit

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
Bybit CHIPUSDT	−0.0342%	4h	0.04698	−0.777%	$10.6M	$9.2M	20x	as long as short
Backpack CHIP_USDC_PERP	−0.0278%	1h	0.04714	−0.439%	$34K	$234K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0234%	4h	0.04694	−0.862%	$2.1M	$9.6M	20x	as long as short
Phoenix CHIP	−0.0171%	1h	0.04700	−0.735%	$3K	$128K	5x	as long as short
Nado CHIP-PERP	−0.0134%	1h	0.04705	−0.629%	$238K	$18K	5x	as long as short
KuCoin CHIPUSDTM	−0.0060%	4h	0.04695	−0.841%	$986K	$1.2M	50x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0047%	1h	0.04710	−0.532%	$10K	$24K	10x	as long as short
Aftermath Perps CHIPUSD	−0.0018%	1h	0.04699	−0.764%	$115	$36K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04697	−0.798%	$97K	$107K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04703	−0.680%	$14.6M	$6.1M	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CHIPUSDT	+0.0100%	4h	0.04695	−0.840%	$54K	$279K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04694	−0.853%	$16K	$3K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04692	−0.904%	$14.1M	$27.2M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04699	−0.756%	$673K	$960K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04692	−0.904%	$1.7M	$1.0M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04694	−0.862%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04693	−0.883%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04701	−0.710%	$846K	$501K	—	as long as short
ApeX Omni CHIPUSDT	+0.0100%	1h	0.04688	−0.988%	$16K	$246K	50x	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04703	−0.672%	$813	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04693	−0.887%	$214K	$1.0M	5x	as long as short
BloFin CHIP-USDTshort	+0.0107%	4h	0.04701	−0.714%	$558K	$66K	50x
Coinbase International CHIP-PERP-INTXlong	+0.0952%	1h	0.04735	long leg	$45K	$37K	50x