Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0314%/8h= −34.4% APRpaid last 24h −0.040%

Price spread now: Variational Omni against Aftermath Perps+0.132%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.132% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.132% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps CHIPUSD	0.04656	0.0414	pay 0.0052% / 1h	27m 49s	$93	$38K	5x
Short	Variational Omni CHIP	0.04662	0.0100	get 0.0050% / 4h	2h 27m	$876K	$459K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aftermath Perps. 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 Aftermath PerpsbpFee Variational OmnibpOrdersPrice spread, now +0.132%Rate

Funding earned: −$66.03
Price spread: +0.132% → 0.000%: $13.24
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$61.8
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Aftermath Perps: no order-book sample; Variational Omni: RFQ quote, 41 min ago. 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 41 min ago	7.47 bp	doesn't fit	133.4 bp −$1,334	doesn't fit	doesn't fit

Aftermath Perps: 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 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_PERP	−0.1157%	1h	0.04667	+0.234%	$15K	$219K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0236%	1h	0.04659	+0.062%	$16K	$250K	50x	as long as short
Phoenix CHIP	−0.0172%	1h	0.04666	+0.212%	$3K	$129K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0014%	4h	0.04664	+0.169%	$1.9M	$9.2M	20x	as long as short
Nado CHIP-PERP	−0.0006%	1h	0.04655	−0.035%	$234K	$19K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04665	+0.191%	$86K	$108K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04675	+0.416%	$14.7M	$6.2M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04668	+0.265%	$37K	$254K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04646	−0.224%	$13K	$628	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04664	+0.169%	$14.0M	$25.9M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CHIPUSDT	+0.0100%	4h	0.04666	+0.212%	$10.9M	$8.6M	20x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04666	+0.212%	$690K	$951K	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04662	+0.126%	$1.8M	$1.1M	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04667	+0.234%	$979K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04666	+0.212%	$1.9M	$3.2M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04664	+0.169%	—	$1.9M	—	as long as short
Variational Omni CHIPshort	+0.0100%	4h	0.04662	+0.132%	$876K	$459K	—
SunX CHIP-USDT	+0.0100%	4h	0.04653	−0.067%	$731	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04662	+0.133%	$211K	$1.9M	5x	as long as short
Aftermath Perps CHIPUSDlong	+0.0414%	1h	0.04656	long leg	$93	$38K	5x
Coinbase International CHIP-PERP-INTX	+0.0848%	1h	0.04715	+1.256%	$45K	$40K	50x	as long as short
Deribit CHIP_USDC-PERPETUAL	+0.1294%	1h	0.04671	+0.324%	$10K	$24K	10x	as long as short