Funding you earn now, next payment 22:00 UTC−0.1268%/8h= −138.8% APRnext payment −$1.58 per $10,000 · paid last 24h −0.068%
Price spread now: Backpack against Lighter−0.043%7-day average −0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$78as in the Price arb table
costs, in and out, $10k−$740.739% of the position
Funding, last 7 days+0.414%+$41 on $10k
+Price spread, last 4 days (all we have)+0.262%+$26 · spread now −0.043%, 7d avg −0.006%
=Together, before fees+0.676%+ Points / potential airdropLighter: Season 3 · farm board+$68 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$38 a day on $10k at the current rate, and Backpack is 0.037% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.006%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.414%, 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 0.414% in total (about 21.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.58 per $10,000. 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 | Lighter CHIP | 0.04620 | 0.0096 | pay 0.0012% / 1h | 26m 00s | $86K | $110K | 3x |
| Short | Backpack CHIP_USDC_PERP | 0.04618 | −0.1172 | pay 0.0146% / 1h | 26m 00s | $16K | $234K | 5x |
Lighter CHIP
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- −$266.28
- Price spread: −0.043% → −0.006%
- −$3.72
- Slippage, 4 orders
- −$63.85
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$343.85
- Costs to cover
- 0.739%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 55 min ago; Backpack: live order book, 62 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 Lighter live order book, 55 min ago | 11.77 bp | 24.8 bp −$25 | 118.1 bp −$1,181 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 62 min ago | 3.21 bp | 10.9 bp −$11 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CHIP_USDC_PERPshort | −0.1172% | 1h | 0.04618 | −0.043% | $16K | $234K | 5x | |
| ApeX Omni CHIPUSDT | −0.0663% | 1h | 0.04590 | −0.649% | $14K | $249K | 50x | as long as short |
| Bybit CHIPUSDT | −0.0228% | 4h | 0.04620 | 0.000% | $10.8M | $8.9M | 20x | as long as short |
| Nado CHIP-PERP | −0.0187% | 1h | 0.04618 | −0.043% | $231K | $18K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0179% | 4h | 0.04617 | −0.065% | $1.9M | $9.2M | 20x | as long as short |
| Phoenix CHIP | −0.0173% | 1h | 0.04595 | −0.541% | $3K | $143K | 5x | as long as short |
| BloFin CHIP-USDT | −0.0163% | 4h | 0.04608 | −0.260% | $543K | $66K | 50x | as long as short |
| Binance CHIPUSDT | −0.0115% | 4h | 0.04613 | −0.155% | $13.9M | $25.7M | 50x | as long as short |
| MEXC CHIP_USDT | −0.0114% | 4h | 0.04614 | −0.130% | $1.8M | $1.2M | 50x | as long as short |
| Extended CHIP-USD | −0.0112% | 1h | 0.04615 | −0.109% | $210K | $1.3M | 5x | as long as short |
ApeX Omni CHIPUSDT
Bybit CHIPUSDT
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
Phoenix CHIP
BloFin CHIP-USDT
Binance CHIPUSDT
MEXC CHIP_USDT
Extended CHIP-USDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps CHIPUSD | −0.0076% | 1h | 0.04601 | −0.403% | $85 | $39K | 5x | as long as short |
| Aster CHIPUSDT | −0.0035% | 4h | 0.04620 | −0.009% | $43K | $226K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0031% | 1h | 0.04622 | +0.039% | $10K | $24K | 10x | as long as short |
| Lighter CHIPlong | +0.0096% | 1h | 0.04620 | long leg | $86K | $110K | 3x | |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04626 | +0.121% | $14.9M | $6.6M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04617 | −0.065% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04612 | −0.173% | $693K | $899K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04615 | −0.108% | $986K | $1.0M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04616 | −0.087% | $2.0M | $3.0M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04613 | −0.152% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04597 | −0.491% | $837K | $462K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04613 | −0.152% | $751 | $1.0M | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0816% | 1h | 0.04757 | +2.955% | $46K | $41K | 50x | as long as short |
Aftermath Perps CHIPUSD
Aster CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Coinbase International CHIP-PERP-INTX