Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0228%/8h= +24.9% APRpaid last 24h −0.044%

Price spread now: SunX against Deribit−0.168%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 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

Funding pays, the price is against you. SunX is 0.168% cheaper against Deribit than usual: you would sell low and buy high (spread −0.168% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 2.5 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CHIP_USDC-PERPETUAL	0.04766	−0.0128	get 0.0016% / 1h	19m 46s	$10K	$23K	10x
Short	SunX CHIP-USDT	0.04758	0.0100	get 0.0050% / 4h	19m 46s	$495	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.168%Rate

Funding earned: $47.78
Price spread: −0.168% → 0.000%: −$16.79
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: $16
Costs to cover: 0.150%
Break-even: 4.7 days

Slippage unknown: Deribit: no order-book sample; SunX: live order book, 3 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 SunX live order book, 3 min ago	47.31 bp	144.6 bp −$145	doesn't fit	doesn't fit	doesn't fit

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
Phoenix CHIP	−0.0335%	1h	0.04759	−0.147%	$3K	$125K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0332%	1h	0.04763	−0.063%	$17K	$246K	50x	as long as short
OKX CHIP-USDT-SWAP	−0.0171%	4h	0.04768	+0.042%	$2.2M	$9.6M	20x	as long as short
Bybit CHIPUSDT	−0.0136%	4h	0.04770	+0.084%	$10.9M	$9.0M	20x	as long as short
Deribit CHIP_USDC-PERPETUALlong	−0.0128%	1h	0.04766	long leg	$10K	$23K	10x
KuCoin CHIPUSDTM	−0.0098%	4h	0.04768	+0.042%	$1.0M	$1.1M	50x	as long as short
Nado CHIP-PERP	−0.0007%	1h	0.04761	−0.094%	$241K	$18K	5x	as long as short
Aftermath Perps CHIPUSD	+0.0048%	1h	0.04766	−0.004%	$87	$36K	5x	as long as short
BloFin CHIP-USDT	+0.0052%	4h	0.04765	−0.021%	$574K	$100K	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04767	+0.021%	$99K	$107K	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid CHIP	+0.0100%	1h	0.04776	+0.206%	$14.8M	$5.9M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04767	+0.017%	$49K	$275K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04762	−0.082%	$16K	$4K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04766	0.000%	$14.3M	$26.9M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04764	−0.042%	$677K	$977K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04765	−0.021%	$1.9M	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04767	+0.021%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04768	+0.042%	—	$1.9M	—	as long as short
Backpack CHIP_USDC_PERP	+0.0100%	1h	0.04766	0.000%	$27K	$216K	5x	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04767	+0.014%	$919K	$472K	—	as long as short
SunX CHIP-USDTshort	+0.0100%	4h	0.04758	−0.168%	$495	$1.0M	10x
Extended CHIP-USD	+0.0104%	1h	0.04764	−0.037%	$219K	$1.9M	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0920%	1h	0.04839	+1.538%	$46K	$37K	50x	as long as short