Funding you earn now, next payment 23:00 UTC−0.0273%/8h= −29.9% APRnext payment −$0.34 per $10,000 · paid last 24h −0.098%
Price spread now: Phoenix against Hyperliquid−0.245%7-day average −0.199% · you buy dearer than you sell
Net, funding: paid 7d − costs−$151as in the Funding arb table
Net, price: spread back to 7d avg − costs−$89as in the Price arb table
costs, in and out, $10k−$840.844% of the position
Funding, last 7 days−0.670%−$67 on $10k
+Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.245%, 7d avg −0.199%
=Together, before fees−0.601%+ Points / potential airdropHyperliquid: Season 2 · farm board−$60 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phoenix is 0.045% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.199%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid CHIP | 0.04662 | 0.0100 | pay 0.0013% / 1h | 4m 57s | $14.7M | $6.8M | 3x |
| Short | Phoenix CHIP | 0.04651 | −0.0173 | pay 0.0022% / 1h | 4m 57s | $3K | $140K | 5x |
Hyperliquid CHIP
Phoenix CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Hyperliquid. 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
- −$57.43
- Price spread: −0.245% → −0.199%
- −$4.5
- Slippage, 4 orders
- −$68.35
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$146.29
- Costs to cover
- 0.844%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; Phoenix: live order book, 66 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 Hyperliquid live order book, 8 min ago | 0.11 bp | 10.7 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 66 min ago | 4.34 bp | 26.5 bp −$26 | 70.7 bp −$707 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CHIP_USDC_PERP | −0.1291% | 1h | 0.04648 | −0.309% | $15K | $236K | 5x | as long as short |
| Phoenix CHIPshort | −0.0173% | 1h | 0.04651 | −0.245% | $3K | $140K | 5x | |
| ApeX Omni CHIPUSDT | −0.0101% | 1h | 0.04653 | −0.202% | $14K | $249K | 50x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0052% | 4h | 0.04650 | −0.266% | $1.9M | $9.2M | 20x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04653 | −0.197% | $10K | $24K | 10x | as long as short |
| Bybit CHIPUSDT | +0.0062% | 4h | 0.04652 | −0.223% | $10.8M | $8.9M | 20x | as long as short |
| BloFin CHIP-USDT | +0.0066% | 4h | 0.04649 | −0.287% | $548K | $66K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04650 | −0.266% | $86K | $108K | 3x | as long as short |
| Hyperliquid CHIPlong | +0.0100% | 1h | 0.04662 | long leg | $14.7M | $6.8M | 3x | |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04649 | −0.287% | $46K | $241K | 5x | as long as short |
Backpack CHIP_USDC_PERP
ApeX Omni CHIPUSDT
OKX CHIP-USDT-SWAP
Deribit CHIP_USDC-PERPETUAL
Bybit CHIPUSDT
BloFin CHIP-USDT
Lighter CHIP
Aster CHIPUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CHIP | +0.0100% | 1h | 0.04650 | −0.266% | $13K | $628 | 3x | as long as short |
| Binance CHIPUSDT | +0.0100% | 4h | 0.04650 | −0.266% | $14.0M | $26.2M | 50x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04649 | −0.287% | $687K | $914K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04648 | −0.309% | $1.8M | $1.1M | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04649 | −0.287% | $980K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04650 | −0.266% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04652 | −0.223% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04648 | −0.301% | $870K | $468K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04646 | −0.352% | $785 | $1.1M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04649 | −0.296% | $211K | $1.3M | 5x | as long as short |
| Nado CHIP-PERP | +0.0125% | 1h | 0.04645 | −0.362% | $232K | $18K | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0290% | 1h | 0.04655 | −0.161% | $86 | $39K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0840% | 1h | 0.04715 | +1.132% | $45K | $40K | 50x | as long as short |
Pacifica CHIP
Binance CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Nado CHIP-PERP
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX