Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0852%/8h= −93.3% APRpaid last 24h −0.244%

Price spread now: SunX against Coinbase International−0.833%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 SunX

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 −$26 a day on $10k at the current rate, and SunX is 0.833% cheaper against Coinbase International than usual: you would sell low and buy high (−$83 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	0.04839	0.0952	pay 0.0119% / 1h	3m 29s	$46K	$38K	50x
Short	SunX CHIP-USDT	0.04799	0.0100	get 0.0050% / 4h	1h 03m	$563	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.833%Rate

Funding earned: −$178.92
Price spread: −0.833% → 0.000%: −$83.28
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$280.2
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; SunX: live order book, 9 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 SunX live order book, 9 min ago	46.99 bp	129.3 bp −$129	doesn't fit	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
ApeX Omni CHIPUSDT	−0.0331%	1h	0.04803	−0.750%	$17K	$245K	50x	as long as short
Bybit CHIPUSDT	−0.0252%	4h	0.04793	−0.957%	$10.9M	$9.0M	20x	as long as short
OKX CHIP-USDT-SWAP	−0.0179%	4h	0.04784	−1.143%	$2.1M	$9.7M	20x	as long as short
Nado CHIP-PERP	−0.0173%	1h	0.04785	−1.122%	$242K	$18K	5x	as long as short
Phoenix CHIP	−0.0171%	1h	0.04783	−1.163%	$3K	$128K	5x	as long as short
KuCoin CHIPUSDTM	−0.0048%	4h	0.04794	−0.936%	$1.0M	$1.1M	50x	as long as short
Deribit CHIP_USDC-PERPETUAL	0.0000%	1h	0.04791	−1.006%	$10K	$23K	10x	as long as short
Aftermath Perps CHIPUSD	+0.0036%	1h	0.04801	−0.787%	$119	$36K	5x	as long as short
BloFin CHIP-USDT	+0.0069%	4h	0.04805	−0.709%	$577K	$101K	50x	as long as short
Backpack CHIP_USDC_PERP	+0.0079%	1h	0.04796	−0.895%	$26K	$235K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter CHIP	+0.0096%	1h	0.04800	−0.812%	$100K	$107K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04806	−0.690%	$14.9M	$5.9M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04798	−0.847%	$53K	$275K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04800	−0.802%	$16K	$4K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04790	−1.009%	$14.4M	$27.0M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04797	−0.874%	$687K	$997K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04795	−0.915%	$1.8M	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04794	−0.936%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04792	−0.977%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04807	−0.664%	$922K	$475K	—	as long as short
SunX CHIP-USDTshort	+0.0100%	4h	0.04799	−0.833%	$563	$1.0M	10x
Extended CHIP-USD	+0.0104%	1h	0.04792	−0.985%	$219K	$1.9M	5x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0952%	1h	0.04839	long leg	$46K	$38K	50x