Funding you earn now, next payment 04:00 UTC−0.0971%/8h= −106.3% APRnext payment −$1.21 per $10,000 · paid last 24h −0.133%
Price spread now: Backpack against Extended+0.350%48s7-day average +0.078% · you sell dearer than you buy
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$950.952% of the position
Funding, last 7 days+0.251%+$25 on $10k
+Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.350%, 7d avg +0.078%
=Together, before fees+0.238%+ Points / potential airdropExtended: Active · farm board+$24 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Backpack is 0.272% dearer against Extended than usual: you sell high and buy low (spread +0.350% now, against its 7-day average of +0.078%): +$27 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 22 hours. Mind the row above: over the last 7 days funding on this pair paid +0.251%, so the current rate has only just turned against you. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.251% in total (about 13.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.21 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended CHIP-USD | 0.04649 | 0.0080 | pay 0.0010% / 1h | 49m 22s | $213K | $1.9M | 5x |
| Short | Backpack CHIP_USDC_PERP | 0.04665 | −0.0891 | pay 0.0111% / 1h | 49m 22s | $35K | $244K | 5x |
Extended CHIP-USD
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Extended. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$203.95
- Price spread: +0.350% → +0.078%
- $27.17
- Slippage, 4 orders
- −$80.25
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$272.03
- Costs to cover
- 0.952%
- Break-even
- never at this rate
Slippage from Extended: live order book, 4 min ago; Backpack: live order book, 9 min ago.
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 Extended live order book, 4 min ago | 3.20 bp | 34.3 bp −$34 | 253.0 bp −$2,530 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 9 min ago | 2.13 bp | 13.8 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit CHIP_USDC-PERPETUAL | −0.0995% | 1h | 0.04653 | +0.100% | $10K | $24K | 10x | as long as short |
| Backpack CHIP_USDC_PERPshort | −0.0891% | 1h | 0.04665 | +0.350% | $35K | $244K | 5x | |
| Bybit CHIPUSDT | −0.0562% | 4h | 0.04654 | +0.113% | $10.7M | $9.0M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0519% | 1h | 0.04670 | +0.457% | $16K | $246K | 50x | as long as short |
| Phoenix CHIP | −0.0510% | 1h | 0.04726 | +1.662% | $3K | $129K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0357% | 4h | 0.04652 | +0.070% | $2.0M | $9.4M | 20x | as long as short |
| Aster CHIPUSDT | −0.0100% | 4h | 0.04660 | +0.248% | $49K | $275K | 5x | as long as short |
| Nado CHIP-PERP | −0.0069% | 1h | 0.04651 | +0.049% | $235K | $20K | 5x | as long as short |
| BloFin CHIP-USDT | +0.0060% | 4h | 0.04669 | +0.436% | $560K | $63K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0074% | 4h | 0.04653 | +0.092% | $1.8M | $1.2M | 50x | as long as short |
Deribit CHIP_USDC-PERPETUAL
Bybit CHIPUSDT
ApeX Omni CHIPUSDT
Phoenix CHIP
OKX CHIP-USDT-SWAP
Aster CHIPUSDT
Nado CHIP-PERP
BloFin CHIP-USDT
MEXC CHIP_USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDT | +0.0077% | 4h | 0.04651 | +0.049% | $14.1M | $26.8M | 50x | as long as short |
| Extended CHIP-USDlong | +0.0080% | 1h | 0.04649 | long leg | $213K | $1.9M | 5x | |
| Lighter CHIP | +0.0096% | 1h | 0.04660 | +0.242% | $86K | $107K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04662 | +0.279% | $14.5M | $6.2M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04660 | +0.242% | $16K | $3K | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04652 | +0.070% | $676K | $950K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04661 | +0.264% | $975K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04649 | +0.005% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04652 | +0.070% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04671 | +0.472% | $832K | $529K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04650 | +0.027% | $990 | $1.0M | 10x | as long as short |
| Aftermath Perps CHIPUSD | +0.0350% | 1h | 0.04694 | +0.981% | $133 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0736% | 1h | 0.04855 | +4.432% | $47K | $42K | 50x | as long as short |
Binance CHIPUSDT
Lighter CHIP
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX