Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.067%

Price spread now: MEXC against Deribit−0.071%7-day average — · you buy dearer than you sell

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

Long on Deribit 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

Funding pays, the price is against you. MEXC is 0.071% cheaper against Deribit than usual: you would sell low and buy high (spread −0.071% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CHIP_USDC-PERPETUAL	0.04624	0	get 0.0000% / 1h	29m 34s	$10K	$24K	10x
Short	MEXC CHIP_USDT	0.04621	0.0100	get 0.0050% / 4h	3h 29m	$1.8M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now −0.071%Rate

Funding earned: $21
Price spread: −0.071% → 0.000%: −$7.14
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $6.86
Costs to cover: 0.070%
Break-even: 4.7 days

Slippage unknown: Deribit: no order-book sample; MEXC: live order book, 2 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 Deribit no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	2.16 bp	9.8 bp −$10	59.9 bp −$599	208.5 bp −$20.8K	617.6 bp −$308.8K

Deribit: 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	−0.1168%	1h	0.04619	−0.115%	$14K	$229K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0444%	1h	0.04622	−0.050%	$14K	$248K	50x	as long as short
Nado CHIP-PERP	−0.0175%	1h	0.04621	−0.071%	$231K	$18K	5x	as long as short
Phoenix CHIP	−0.0172%	1h	0.04622	−0.050%	$3K	$140K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0045%	4h	0.04622	−0.050%	$1.9M	$9.0M	20x	as long as short
Deribit CHIP_USDC-PERPETUALlong	0.0000%	1h	0.04624	long leg	$10K	$24K	10x
Lighter CHIP	+0.0096%	1h	0.04624	−0.006%	$86K	$108K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04630	+0.123%	$14.5M	$6.6M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04628	+0.089%	$48K	$237K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04624	−0.006%	$13K	$628	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CHIPUSDT	+0.0100%	4h	0.04621	−0.062%	$13.9M	$26.0M	50x	as long as short
Bybit CHIPUSDT	+0.0100%	4h	0.04626	+0.037%	$10.8M	$8.7M	20x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04624	−0.006%	$683K	$907K	50x	as long as short
MEXC CHIP_USDTshort	+0.0100%	4h	0.04621	−0.071%	$1.8M	$1.2M	50x
KuCoin CHIPUSDTM	+0.0100%	4h	0.04622	−0.050%	$970K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04623	−0.028%	$1.9M	$3.2M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04624	−0.006%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04625	+0.010%	$868K	$469K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04616	−0.179%	$701	$1.1M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04622	−0.060%	$210K	$2.0M	5x	as long as short
BloFin CHIP-USDT	+0.0124%	4h	0.04619	−0.115%	$545K	$65K	50x	as long as short
Aftermath Perps CHIPUSD	+0.0323%	1h	0.04624	0.000%	$85	$38K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0928%	1h	0.04647	+0.491%	$45K	$40K	50x	as long as short