Funding you earn now, next payment 22:00 UTC+0.2212%/8h= +242.3% APRpaid last 24h +0.069%
Price spread now: BingX against Backpack−0.087%7-day average −0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$100as in the Funding arb table
Net, price: spread back to 7d avg − costs−$73as in the Price arb table
costs, in and out, $10k−$650.647% of the position
Funding, last 7 days−0.354%−$35 on $10k
+Price spread, last 4 days (all we have)+0.030%+$3 · spread now −0.087%, 7d avg −0.005%
=Funding pays, the price is against you. BingX is 0.082% cheaper against Backpack than usual: you would sell low and buy high (spread −0.087% now, against its 7-day average of −0.005%). If the spread goes back, that is −$8 on $10k: about 3 hours of funding at the current rate (+$66 a day). Mind the row above: over the last 7 days funding on this pair cost −0.354%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.354% in total (about -18.4% 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 | Backpack CHIP_USDC_PERP | 0.04575 | −0.2112 | get 0.0264% / 1h | 45m 29s | $16K | $234K | 5x |
| Short | BingX CHIP-USDT | 0.04571 | 0.0100 | get 0.0050% / 4h | 2h 45m | — | $1.9M | — |
Backpack CHIP_USDC_PERP
BingX CHIP-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Backpack. 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
- $464.61
- Price spread: −0.087% → −0.005%
- −$8.22
- Slippage, 4 orders
- −$44.72
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- $391.67
- Costs to cover
- 0.647%
- Break-even
- 1.1 days
Slippage from Backpack: live order book, 42 min ago; BingX: live order book, 2 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 Backpack live order book, 42 min ago | 3.21 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 2 min ago | 6.55 bp | 22.4 bp −$22 | 68.4 bp −$684 | 610.7 bp −$61.1K | 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_PERPlong | −0.2112% | 1h | 0.04575 | long leg | $16K | $234K | 5x | |
| ApeX Omni CHIPUSDT | −0.0761% | 1h | 0.04583 | +0.175% | $14K | $248K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0623% | 1h | 0.04579 | +0.087% | $10K | $24K | 10x | as long as short |
| Bybit CHIPUSDT | −0.0459% | 4h | 0.04577 | +0.044% | $10.7M | $8.9M | 20x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0193% | 4h | 0.04576 | +0.022% | $1.9M | $9.1M | 20x | as long as short |
| Nado CHIP-PERP | −0.0183% | 1h | 0.04573 | −0.044% | $229K | $18K | 5x | as long as short |
| Phoenix CHIP | −0.0173% | 1h | 0.04583 | +0.175% | $3K | $143K | 5x | as long as short |
| BloFin CHIP-USDT | −0.0142% | 4h | 0.04576 | +0.022% | $548K | $66K | 50x | as long as short |
| Binance CHIPUSDT | −0.0089% | 4h | 0.04574 | −0.022% | $13.8M | $25.6M | 50x | as long as short |
| Extended CHIP-USD | −0.0088% | 1h | 0.04573 | −0.053% | $209K | $1.3M | 5x | as long as short |
ApeX Omni CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
Bybit CHIPUSDT
OKX CHIP-USDT-SWAP
Nado CHIP-PERP
Phoenix CHIP
BloFin CHIP-USDT
Binance CHIPUSDT
Extended CHIP-USDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC CHIP_USDT | −0.0084% | 4h | 0.04572 | −0.066% | $1.8M | $1.2M | 50x | as long as short |
| Aster CHIPUSDT | −0.0071% | 4h | 0.04581 | +0.126% | $41K | $226K | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0051% | 1h | 0.04593 | +0.388% | $85 | $39K | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04576 | +0.022% | $85K | $110K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04582 | +0.151% | $14.7M | $6.6M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04575 | −0.009% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04582 | +0.153% | $688K | $898K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04575 | 0.000% | $987K | $1.0M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04577 | +0.044% | $1.9M | $3.0M | 50x | as long as short |
| BingX CHIP-USDTshort | +0.0100% | 4h | 0.04571 | −0.087% | — | $1.9M | — | |
| Variational Omni CHIP | +0.0100% | 4h | 0.04582 | +0.143% | $834K | $463K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04572 | −0.066% | $619 | $1.0M | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0816% | 1h | 0.04757 | +3.967% | $46K | $41K | 50x | as long as short |
MEXC CHIP_USDT
Aster CHIPUSDT
Aftermath Perps CHIPUSD
Lighter CHIP
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
Variational Omni CHIP
SunX CHIP-USDT
Coinbase International CHIP-PERP-INTX