Settings8H · net · $10k
Funding arb · Price arb /

CHIP

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.019%
Price spread now: SunX against Hyperliquid−0.302%52s7-day average −0.213% · you buy dearer than you sell
Net, funding: paid 7d − costs−$304as in the Funding arb table
Net, price: spread back to 7d avg − costsprices read too far apart to compare
costs, in and out, $10k−$2922.920% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.118%−$12 on $10k
Price spread, last 3 days (all we have)+0.566%+$57 · spread now −0.302%, 7d avg −0.213%
Together, before fees+0.448%+ Points / potential airdropHyperliquid: Season 2 · farm board+$45 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.089% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.213%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid CHIP0.046100.0100pay 0.0013% / 1h28m 28s$14.8M$6.6M3x
ShortSunX CHIP-USDT0.045960.0100get 0.0050% / 4h2h 28m$989$1.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SunX against Hyperliquid. 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

Funding earned
$0
Price spread: −0.302% → −0.213%
−$8.9
Slippage, 4 orders
−$274.98
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee SunX: 4 bp × 2 orders
−$8
Net
−$300.88
Costs to cover
2.920%
Break-even
never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; SunX: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 4 min ago0.98 bp17.9 bp −$18doesn't fitdoesn't fitdoesn't fit
Sell SunX live order book, 4 min ago47.96 bp130.2 bp −$130doesn't fitdoesn't fitdoesn't fit

CHIP on 23 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Backpack CHIP_USDC_PERP−0.1375%1h0.04601−0.193%$16K$234K5xas long as short
ApeX Omni CHIPUSDT−0.0663%1h0.04590−0.432%$14K$249K50xas long as short
Deribit CHIP_USDC-PERPETUAL−0.0314%1h0.04604−0.134%$10K$24K10xas long as short
Bybit CHIPUSDT−0.0283%4h0.04604−0.128%$10.7M$8.9M20xas long as short
OKX CHIP-USDT-SWAP−0.0188%4h0.04603−0.150%$1.9M$9.2M20xas long as short
Nado CHIP-PERP−0.0188%1h0.04600−0.204%$230K$18K5xas long as short
Phoenix CHIP−0.0173%1h0.04595−0.323%$3K$143K5xas long as short
BloFin CHIP-USDT−0.0140%4h0.04595−0.323%$542K$66K50xas long as short
Extended CHIP-USD−0.0120%1h0.04601−0.182%$209K$1.3M5xas long as short
MEXC CHIP_USDT−0.0118%4h0.04600−0.215%$1.8M$1.2M50xas long as short
Show all 23 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance CHIPUSDT−0.0117%4h0.04601−0.193%$13.9M$25.7M50xas long as short
Aftermath Perps CHIPUSD−0.0060%1h0.04594−0.345%$85$39K5xas long as short
Aster CHIPUSDT−0.0043%4h0.04602−0.175%$43K$225K5xas long as short
Lighter CHIP+0.0096%1h0.04604−0.128%$85K$110K3xas long as short
Hyperliquid CHIPlong+0.0100%1h0.04610long leg$14.8M$6.6M3x
Pacifica CHIP+0.0100%1h0.04603−0.161%$13K$6283xas long as short
Gate CHIP_USDT+0.0100%4h0.04599−0.236%$691K$899K50xas long as short
KuCoin CHIPUSDTM+0.0100%4h0.04601−0.193%$983K$1.0M50xas long as short
Bitget CHIPUSDT+0.0100%4h0.04603−0.150%$2.0M$3.0M50xas long as short
BingX CHIP-USDT+0.0100%4h0.04603−0.150%$1.9Mas long as short
Variational Omni CHIP+0.0100%4h0.04597−0.273%$837K$462Kas long as short
SunX CHIP-USDTshort+0.0100%4h0.04596−0.302%$989$1.0M10x
Coinbase International CHIP-PERP-INTX+0.0816%1h0.04757+3.180%$46K$41K50xas long as short