Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.1133%/8h= −124.0% APRpaid last 24h −0.024%

Price spread now: Deribit against MEXC+0.251%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.251% dearer against MEXC than usual: you sell high and buy low (spread +0.251% now, against zero (this spread has no 7-day history yet)): +$25 on $10k if it goes back. Holding the pair costs −$34 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CHIP_USDT	0.04582	0.0100	pay 0.0050% / 4h	31m 40s	$2.0M	$919K	50x
Short	Deribit CHIP_USDC-PERPETUAL	0.04593	−0.1033	pay 0.0129% / 1h	31m 40s	$9K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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

Position, each leg$Hold fordaysFee MEXCbpFee DeribitbpOrdersPrice spread, now +0.251%Rate

Funding earned: −$237.88
Price spread: +0.251% → 0.000%: $25.1
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$219.79
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: MEXC: live order book, 3 min ago; Deribit: no order-book sample. Net counts fees only.

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, 3 min ago	1.09 bp	9.5 bp −$9	35.5 bp −$355	246.9 bp −$24.7K	819.9 bp −$409.9K
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CHIP on 23 exchanges

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
ApeX Omni CHIPUSDT	−0.1152%	1h	0.04599	+0.371%	$16K	$230K	50x	as long as short
Deribit CHIP_USDC-PERPETUALshort	−0.1033%	1h	0.04593	+0.251%	$9K	$1K	10x
Aftermath Perps CHIPUSD	−0.0556%	1h	0.04594	+0.266%	$168	$33K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0402%	4h	0.04584	+0.044%	$2.1M	$6.8M	20x	as long as short
Phoenix CHIP	−0.0348%	1h	0.04584	+0.044%	$3K	$68K	5x	as long as short
Bybit CHIPUSDT	−0.0301%	4h	0.04589	+0.153%	$10.4M	$7.6M	20x	as long as short
Nado CHIP-PERP	−0.0279%	1h	0.04590	+0.186%	$232K	$17K	5x	as long as short
KuCoin CHIPUSDTM	−0.0056%	4h	0.04586	+0.087%	$944K	$1.0M	50x	as long as short
Aster CHIPUSDT	−0.0034%	4h	0.04588	+0.131%	$46K	$241K	5x	as long as short
Binance CHIPUSDT	+0.0095%	4h	0.04582	0.000%	$13.6M	$21.3M	50x	as long as short

Show all 23 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter CHIP	+0.0096%	1h	0.04586	+0.087%	$95K	$86K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04591	+0.188%	$13.6M	$5.2M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04585	+0.076%	$15K	$4K	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04590	+0.175%	$709K	$734K	50x	as long as short
MEXC CHIP_USDTlong	+0.0100%	4h	0.04582	long leg	$2.0M	$919K	50x
Bitget CHIPUSDT	+0.0100%	4h	0.04583	+0.022%	$1.9M	$3.0M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04584	+0.044%	—	$1.8M	—	as long as short
Backpack CHIP_USDC_PERP	+0.0100%	1h	0.04587	+0.109%	$26K	$187K	5x	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04592	+0.212%	$849K	$452K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04588	+0.131%	$955	$754K	10x	as long as short
BloFin CHIP-USDT	+0.0103%	4h	0.04596	+0.306%	$557K	$109K	50x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04580	−0.047%	$208K	$1.6M	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0992%	1h	0.04606	+0.533%	$49K	$45K	50x	as long as short