Funding you earn now, next payment 02:00 UTC−0.1316%/8h= −144.1% APRpaid last 24h −0.111%
Price spread now: Backpack against KuCoin−0.064%7-day average −0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$131as in the Price arb table
costs, in and out, $10k−$1281.285% of the position
Funding, last 7 days+0.483%+$48 on $10k
+Price spread, last 4 days (all we have)−0.036%−$4 · spread now −0.064%, 7d avg −0.037%
=Both sides work against this trade now: funding costs −$39 a day on $10k at the current rate, and Backpack is 0.027% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.037%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.483%, 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 0.483% in total (about 25.2% 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 | KuCoin CHIPUSDTM | 0.04714 | 0.0100 | pay 0.0050% / 4h | 2h 20m | $988K | $1.1M | 50x |
| Short | Backpack CHIP_USDC_PERP | 0.04711 | −0.1216 | pay 0.0152% / 1h | 20m 44s | $16K | $221K | 5x |
KuCoin CHIPUSDTM
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against KuCoin. 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
- −$276.44
- Price spread: −0.064% → −0.037%
- −$2.67
- Slippage, 4 orders
- −$106.45
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$407.56
- Costs to cover
- 1.285%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 9 min ago; Backpack: live order book, 47 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 KuCoin live order book, 9 min ago | 10.75 bp | 78.1 bp −$78 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 47 min ago | 1.07 bp | 8.9 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
CHIP on 22 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_PERPshort | −0.1216% | 1h | 0.04711 | −0.064% | $16K | $221K | 5x | |
| Phoenix CHIP | −0.0172% | 1h | 0.04665 | −1.039% | $3K | $129K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0165% | 1h | 0.04701 | −0.276% | $16K | $244K | 50x | as long as short |
| Nado CHIP-PERP | −0.0023% | 1h | 0.04709 | −0.117% | $237K | $19K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0022% | 4h | 0.04711 | −0.064% | $2.0M | $9.3M | 20x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04714 | 0.000% | $87K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04725 | +0.235% | $14.9M | $6.1M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04715 | +0.018% | $37K | $255K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04714 | +0.008% | $14K | $628 | 3x | as long as short |
| Binance CHIPUSDT | +0.0100% | 4h | 0.04712 | −0.042% | $14.2M | $25.9M | 50x | as long as short |
Phoenix CHIP
ApeX Omni CHIPUSDT
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIP
Binance CHIPUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CHIPUSDT | +0.0100% | 4h | 0.04715 | +0.021% | $11.0M | $8.6M | 20x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04716 | +0.042% | $697K | $954K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04713 | −0.021% | $1.8M | $1.1M | 50x | as long as short |
| KuCoin CHIPUSDTMlong | +0.0100% | 4h | 0.04714 | long leg | $988K | $1.1M | 50x | |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04714 | 0.000% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04712 | −0.042% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04714 | +0.003% | $892K | $464K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04711 | −0.064% | $832 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04712 | −0.048% | $214K | $1.9M | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0301% | 1h | 0.04722 | +0.170% | $10K | $24K | 10x | as long as short |
| Aftermath Perps CHIPUSD | +0.0423% | 1h | 0.04680 | −0.725% | $93 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0848% | 1h | 0.04738 | +0.518% | $46K | $40K | 50x | as long as short |
Bybit CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Deribit CHIP_USDC-PERPETUAL
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX