Funding you earn now, next payment 03:00 UTC−0.1271%/8h= −139.1% APRpaid last 24h −0.133%
Price spread now: Backpack against MEXC+0.105%7-day average +0.023% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$640.641% of the position
Funding, last 7 days+0.263%+$26 on $10k
+Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.105%, 7d avg +0.023%
=The price spread pays, funding is against you. Backpack is 0.082% dearer against MEXC than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of +0.023%): +$8 on $10k if it goes back. Holding the pair costs −$38 a day in funding at the current rate, which eats that in about 5 hours. Mind the row above: over the last 7 days funding on this pair paid +0.263%, 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 0.263% in total (about 13.7% 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 | MEXC CHIP_USDT | 0.04782 | 0.0100 | pay 0.0050% / 4h | 1h 36m | $1.8M | $1.1M | 50x |
| Short | Backpack CHIP_USDC_PERP | 0.04787 | −0.1171 | pay 0.0146% / 1h | 36m 09s | $28K | $235K | 5x |
MEXC CHIP_USDT
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against MEXC. 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
- −$266.86
- Price spread: +0.105% → +0.023%
- $8.19
- Slippage, 4 orders
- −$54.14
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$322.81
- Costs to cover
- 0.641%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 10 min ago; Backpack: live order book, 27 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 MEXC live order book, 10 min ago | 3.15 bp | 12.3 bp −$12 | 73.8 bp −$738 | 279.1 bp −$27.9K | 859.6 bp −$429.8K |
| Sell Backpack live order book, 27 min ago | 2.10 bp | 15.6 bp −$16 | 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 | −0.1171% | 1h | 0.04787 | +0.105% | $28K | $235K | 5x | |
| ApeX Omni CHIPUSDT | −0.0441% | 1h | 0.04747 | −0.732% | $17K | $244K | 50x | as long as short |
| Bybit CHIPUSDT | −0.0371% | 4h | 0.04786 | +0.084% | $11.0M | $8.9M | 20x | as long as short |
| Phoenix CHIP | −0.0337% | 1h | 0.04761 | −0.439% | $3K | $130K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0182% | 4h | 0.04779 | −0.063% | $2.0M | $9.5M | 20x | as long as short |
| Aster CHIPUSDT | −0.0001% | 4h | 0.04783 | +0.023% | $46K | $271K | 5x | as long as short |
| BloFin CHIP-USDT | +0.0058% | 4h | 0.04757 | −0.523% | $568K | $63K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04786 | +0.084% | $89K | $107K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04797 | +0.320% | $15.0M | $6.0M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04773 | −0.188% | $14K | $689 | 3x | as long as short |
ApeX Omni CHIPUSDT
Bybit CHIPUSDT
Phoenix CHIP
OKX CHIP-USDT-SWAP
Aster CHIPUSDT
BloFin CHIP-USDT
Lighter CHIP
Hyperliquid CHIP
Pacifica CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDT | +0.0100% | 4h | 0.04781 | −0.021% | $14.5M | $26.2M | 50x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04778 | −0.084% | $706K | $946K | 50x | as long as short |
| MEXC CHIP_USDTlong | +0.0100% | 4h | 0.04782 | long leg | $1.8M | $1.1M | 50x | |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04782 | 0.000% | $1.0M | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04786 | +0.084% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04783 | +0.021% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04784 | +0.043% | $849K | $528K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04760 | −0.460% | $803 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04779 | −0.059% | $217K | $1.9M | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0349% | 1h | 0.04760 | −0.462% | $141 | $38K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0418% | 1h | 0.04792 | +0.205% | $10K | $24K | 10x | as long as short |
| Nado CHIP-PERP | +0.0537% | 1h | 0.04777 | −0.105% | $241K | $19K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0832% | 1h | 0.04788 | +0.132% | $46K | $41K | 50x | as long as short |
Binance CHIPUSDT
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Aftermath Perps CHIPUSD
Deribit CHIP_USDC-PERPETUAL
Nado CHIP-PERP
Coinbase International CHIP-PERP-INTX