Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0214%/8h= +23.5% APRpaid last 24h −0.059%

Price spread now: Variational Omni against Deribit−0.078%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.078% cheaper against Deribit than usual: you would sell low and buy high (spread −0.078% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 29 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CHIP_USDC-PERPETUAL	0.04665	−0.0114	get 0.0014% / 1h	0m 46s	$9K	$24K	10x
Short	Variational Omni CHIP	0.04661	0.0100	get 0.0050% / 4h	3h 00m	$820K	$481K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.078%Rate

Funding earned: $45
Price spread: −0.078% → 0.000%: −$7.75
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $30.25
Costs to cover: 0.070%
Break-even: 2.3 days

Slippage unknown: Deribit: no order-book sample; Variational Omni: RFQ quote, 53 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 Variational Omni RFQ quote, 53 min ago	5.30 bp	doesn't fit	145.1 bp −$1,451	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
Bybit CHIPUSDT	−0.0555%	4h	0.04659	−0.124%	$10.6M	$9.0M	20x	as long as short
Phoenix CHIP	−0.0338%	1h	0.04661	−0.081%	$3K	$137K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0252%	4h	0.04655	−0.210%	$2.0M	$9.5M	20x	as long as short
ApeX Omni CHIPUSDT	−0.0232%	1h	0.04665	+0.004%	$16K	$246K	50x	as long as short
Deribit CHIP_USDC-PERPETUALlong	−0.0114%	1h	0.04665	long leg	$9K	$24K	10x
Nado CHIP-PERP	−0.0032%	1h	0.04661	−0.071%	$236K	$18K	5x	as long as short
KuCoin CHIPUSDTM	+0.0070%	4h	0.04661	−0.081%	$980K	$1.1M	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04664	−0.017%	$96K	$115K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04669	+0.090%	$14.5M	$6.1M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04664	−0.026%	$55K	$279K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CHIP	+0.0100%	1h	0.04663	−0.047%	$16K	$3K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04655	−0.210%	$14.1M	$27.0M	50x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04667	+0.047%	$669K	$989K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04655	−0.210%	$1.7M	$1.2M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04659	−0.124%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04656	−0.189%	—	$2.0M	—	as long as short
Backpack CHIP_USDC_PERP	+0.0100%	1h	0.04666	+0.026%	$35K	$230K	5x	as long as short
Variational Omni CHIPshort	+0.0100%	4h	0.04661	−0.078%	$820K	$481K	—
SunX CHIP-USDT	+0.0100%	4h	0.04660	−0.103%	$747	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04656	−0.194%	$215K	$1.0M	5x	as long as short
BloFin CHIP-USDT	+0.0113%	4h	0.04662	−0.060%	$560K	$63K	50x	as long as short
Aftermath Perps CHIPUSD	+0.0230%	1h	0.04675	+0.223%	$68	$37K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0744%	1h	0.04680	+0.324%	$45K	$37K	50x	as long as short