Funding you earn now, next payment 03:00 UTC−0.0456%/8h= −49.9% APRpaid last 24h −0.135%
Price spread now: Backpack against Gate+0.188%7-day average −0.078% · you sell dearer than you buy
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$1041.036% of the position
Funding, last 7 days+0.265%+$27 on $10k
+Price spread, last 4 days (all we have)−0.325%−$32 · spread now +0.188%, 7d avg −0.078%
=The price spread pays, funding is against you. Backpack is 0.265% dearer against Gate than usual: you sell high and buy low (spread +0.188% now, against its 7-day average of −0.078%): +$27 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 47 hours. Mind the row above: over the last 7 days funding on this pair paid +0.265%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.265% in total (about 13.8% a year). A funding rate is set anew for every payment. 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 | Gate CHIP_USDT | 0.04798 | 0.0100 | pay 0.0050% / 4h | 1h 15m | $708K | $950K | 50x |
| Short | Backpack CHIP_USDC_PERP | 0.04807 | −0.0356 | pay 0.0044% / 1h | 15m 18s | $26K | $237K | 5x |
Gate CHIP_USDT
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Gate. 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
- −$95.72
- Price spread: +0.188% → −0.078%
- $26.54
- Slippage, 4 orders
- −$78.6
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$172.78
- Costs to cover
- 1.036%
- Break-even
- never at this rate
Slippage from Gate: live order book, 47 min ago; Backpack: live order book, 48 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 Gate live order book, 47 min ago | 3.16 bp | 39.4 bp −$39 | 243.0 bp −$2,430 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 48 min ago | 2.10 bp | 15.6 bp −$16 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni CHIPUSDT | −0.0617% | 1h | 0.04798 | 0.000% | $16K | $245K | 50x | as long as short |
| Bybit CHIPUSDT | −0.0561% | 4h | 0.04799 | +0.021% | $11.1M | $8.9M | 20x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0437% | 1h | 0.04800 | +0.031% | $10K | $24K | 10x | as long as short |
| Backpack CHIP_USDC_PERPshort | −0.0356% | 1h | 0.04807 | +0.188% | $26K | $237K | 5x | |
| Phoenix CHIP | −0.0337% | 1h | 0.04792 | −0.125% | $3K | $130K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0270% | 4h | 0.04791 | −0.146% | $2.1M | $9.6M | 20x | as long as short |
| Aster CHIPUSDT | −0.0051% | 4h | 0.04805 | +0.143% | $47K | $271K | 5x | as long as short |
| BloFin CHIP-USDT | +0.0048% | 4h | 0.04799 | +0.021% | $577K | $63K | 50x | as long as short |
| Nado CHIP-PERP | +0.0084% | 1h | 0.04792 | −0.115% | $242K | $19K | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04799 | +0.021% | $89K | $107K | 3x | as long as short |
ApeX Omni CHIPUSDT
Bybit CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
Phoenix CHIP
OKX CHIP-USDT-SWAP
Aster CHIPUSDT
BloFin CHIP-USDT
Nado CHIP-PERP
Lighter CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended CHIP-USD | +0.0096% | 1h | 0.04790 | −0.162% | $221K | $1.9M | 5x | as long as short |
| MEXC CHIP_USDT | +0.0096% | 4h | 0.04791 | −0.146% | $1.9M | $1.2M | 50x | as long as short |
| Binance CHIPUSDT | +0.0097% | 4h | 0.04791 | −0.146% | $14.5M | $26.4M | 50x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04809 | +0.221% | $15.1M | $6.1M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04800 | +0.042% | $14K | $689 | 3x | as long as short |
| Gate CHIP_USDTlong | +0.0100% | 4h | 0.04798 | long leg | $708K | $950K | 50x | |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04802 | +0.083% | $1.0M | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04802 | +0.083% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04795 | −0.063% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04808 | +0.199% | $855K | $529K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04793 | −0.104% | $810 | $1.0M | 10x | as long as short |
| Aftermath Perps CHIPUSD | +0.0438% | 1h | 0.04801 | +0.071% | $116 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0832% | 1h | 0.04855 | +1.184% | $47K | $42K | 50x | as long as short |
Extended CHIP-USD
MEXC CHIP_USDT
Binance CHIPUSDT
Hyperliquid CHIP
Pacifica CHIP
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX