Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.019%

Price spread now: Pacifica against Hyperliquid−0.261%54s7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Pacifica

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—+ Points / potential airdropHyperliquid: Season 2 · Pacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.261% cheaper against Hyperliquid than usual: you would sell low and buy high, −$26 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid CHIP	0.04596	0.0100	pay 0.0013% / 1h	49m 50s	$14.8M	$6.6M	3x
Short	Pacifica CHIP	0.04584	0.0100	get 0.0013% / 1h	49m 50s	$13K	$628	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpFee PacificabpOrdersPrice spread, now −0.261%Rate

Funding earned: $0
Price spread: −0.261% → 0.000%: −$26.11
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$43.11
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; Pacifica: no order-book sample. 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 Hyperliquid live order book, 3 min ago	0.98 bp	21.8 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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	−0.2146%	1h	0.04582	−0.302%	$16K	$234K	5x	as long as short
ApeX Omni CHIPUSDT	−0.1160%	1h	0.04592	−0.085%	$14K	$248K	50x	as long as short
Bybit CHIPUSDT	−0.0517%	4h	0.04592	−0.085%	$10.7M	$8.9M	20x	as long as short
Nado CHIP-PERP	−0.0181%	1h	0.04581	−0.313%	$229K	$18K	5x	as long as short
Phoenix CHIP	−0.0173%	1h	0.04589	−0.150%	$3K	$143K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0172%	4h	0.04587	−0.194%	$1.9M	$9.1M	20x	as long as short
BloFin CHIP-USDT	−0.0130%	4h	0.04583	−0.281%	$547K	$71K	50x	as long as short
Binance CHIPUSDT	−0.0082%	4h	0.04587	−0.194%	$13.9M	$25.6M	50x	as long as short
Extended CHIP-USD	−0.0080%	1h	0.04583	−0.278%	$209K	$1.3M	5x	as long as short
MEXC CHIP_USDT	−0.0080%	4h	0.04585	−0.237%	$1.8M	$1.2M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CHIPUSDT	−0.0078%	4h	0.04586	−0.215%	$41K	$226K	5x	as long as short
Deribit CHIP_USDC-PERPETUAL	0.0000%	1h	0.04588	−0.172%	$10K	$24K	10x	as long as short
Aftermath Perps CHIPUSD	+0.0064%	1h	0.04602	+0.134%	$85	$39K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04584	−0.259%	$85K	$110K	3x	as long as short
Hyperliquid CHIPlong	+0.0100%	1h	0.04596	long leg	$14.8M	$6.6M	3x
Pacifica CHIPshort	+0.0100%	1h	0.04584	−0.261%	$13K	$628	3x
Gate CHIP_USDT	+0.0100%	4h	0.04588	−0.172%	$699K	$891K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04584	−0.259%	$988K	$1.0M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04590	−0.128%	$1.9M	$3.0M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04588	−0.172%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04585	−0.237%	$836K	$463K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04581	−0.324%	$449	$1.0M	10x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0816%	1h	0.04757	+3.494%	$46K	$41K	50x	as long as short