Funding arb · Price arb /

CHIP

all CHIP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.1610%/8h= −176.3% APRpaid last 24h −0.266%

Price spread now: KuCoin against Coinbase International−1.264%51s7-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 KuCoin

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 −$48 a day on $10k at the current rate, and KuCoin is 1.264% cheaper against Coinbase International than usual: you would sell low and buy high (−$126 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CHIP-PERP-INTX	0.04666	0.1616	pay 0.0202% / 1h	6m 25s	$50K	$51K	50x
Short	KuCoin CHIPUSDTM	0.04607	0.0006	get 0.0003% / 4h	1h 06m	$954K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpOrdersPrice spread, now −1.264%Rate

Funding earned: −$338.1
Price spread: −1.264% → 0.000%: −$126.45
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$486.55
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; KuCoin: live order book, 1 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 KuCoin live order book, 1 min ago	8.69 bp	80.7 bp −$81	627.7 bp −$6,277	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 exchanges

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
Deribit CHIP_USDC-PERPETUAL	−0.0899%	1h	0.04606	−1.292%	$9K	$2K	10x	as long as short
ApeX Omni CHIPUSDT	−0.0896%	1h	0.04600	−1.414%	$16K	$229K	50x	as long as short
Aftermath Perps CHIPUSD	−0.0429%	1h	0.04607	−1.258%	$139	$33K	5x	as long as short
Phoenix CHIP	−0.0343%	1h	0.04597	−1.479%	$3K	$130K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0301%	4h	0.04604	−1.329%	$2.1M	$7.4M	20x	as long as short
Bybit CHIPUSDT	−0.0231%	4h	0.04606	−1.286%	$10.4M	$7.9M	20x	as long as short
Nado CHIP-PERP	−0.0195%	1h	0.04605	−1.318%	$233K	$17K	5x	as long as short
Backpack CHIP_USDC_PERP	−0.0175%	1h	0.04604	−1.329%	$28K	$189K	5x	as long as short
KuCoin CHIPUSDTMshort	+0.0006%	4h	0.04607	−1.264%	$954K	$1.0M	50x
Aster CHIPUSDT	+0.0050%	4h	0.04604	−1.327%	$47K	$243K	5x	as long as short

Show all 23 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter CHIP	+0.0096%	1h	0.04607	−1.264%	$96K	$89K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04611	−1.183%	$13.7M	$5.3M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04610	−1.200%	$15K	$4K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04602	−1.371%	$13.7M	$22.4M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04604	−1.329%	$711K	$796K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04602	−1.372%	$2.1M	$1.0M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04604	−1.329%	$2.0M	$3.1M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04604	−1.329%	—	$1.8M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04595	−1.515%	$851K	$454K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04598	−1.457%	$613	$805K	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04603	−1.361%	$210K	$1.6M	5x	as long as short
BloFin CHIP-USDT	+0.0110%	4h	0.04606	−1.286%	$558K	$110K	50x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.1616%	1h	0.04666	long leg	$50K	$51K	50x