Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0644%/8h= −70.5% APRpaid last 24h −0.243%

Price spread now: MEXC against Coinbase International−1.700%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 MEXC

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 −$19 a day on $10k at the current rate, and MEXC is 1.700% cheaper against Coinbase International than usual: you would sell low and buy high (−$170 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	0.04765	0.0744	pay 0.0093% / 1h	25m 31s	$46K	$37K	50x
Short	MEXC CHIP_USDT	0.04684	0.0100	get 0.0050% / 4h	3h 25m	$1.7M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −1.700%Rate

Funding earned: −$135.24
Price spread: −1.700% → 0.000%: −$169.99
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$315.23
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; MEXC: 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 MEXC live order book, 1 min ago	2.14 bp	17.6 bp −$18	80.8 bp −$808	250.5 bp −$25.0K	780.3 bp −$390.1K

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	−0.0759%	4h	0.04686	−1.658%	$10.7M	$9.1M	20x	as long as short
Phoenix CHIP	−0.0338%	1h	0.04701	−1.343%	$3K	$137K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0293%	4h	0.04684	−1.700%	$2.0M	$9.6M	20x	as long as short
ApeX Omni CHIPUSDT	−0.0161%	1h	0.04686	−1.658%	$16K	$244K	50x	as long as short
Backpack CHIP_USDC_PERP	−0.0127%	1h	0.04690	−1.574%	$34K	$229K	5x	as long as short
Nado CHIP-PERP	−0.0031%	1h	0.04685	−1.679%	$237K	$18K	5x	as long as short
Deribit CHIP_USDC-PERPETUAL	0.0000%	1h	0.04690	−1.576%	$9K	$24K	10x	as long as short
Aster CHIPUSDT	+0.0073%	4h	0.04693	−1.519%	$56K	$279K	5x	as long as short
BloFin CHIP-USDT	+0.0077%	4h	0.04679	−1.805%	$561K	$65K	50x	as long as short
KuCoin CHIPUSDTM	+0.0080%	4h	0.04691	−1.553%	$972K	$1.1M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CHIP_USDT	+0.0088%	4h	0.04686	−1.658%	$672K	$987K	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04689	−1.595%	$96K	$114K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04694	−1.494%	$14.5M	$6.2M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04690	−1.574%	$16K	$3K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04684	−1.700%	$14.2M	$27.1M	50x	as long as short
MEXC CHIP_USDTshort	+0.0100%	4h	0.04684	−1.700%	$1.7M	$1.2M	50x
Bitget CHIPUSDT	+0.0100%	4h	0.04686	−1.658%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04685	−1.679%	—	$2.0M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04682	−1.739%	$829K	$529K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04682	−1.742%	$905	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04684	−1.707%	$216K	$1.9M	5x	as long as short
Aftermath Perps CHIPUSD	+0.0154%	1h	0.04691	−1.551%	$123	$37K	5x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0744%	1h	0.04765	long leg	$46K	$37K	50x