Funding you earn now, next payment 00:00 UTC+0.1329%/8h= +145.5% APRpaid last 24h +0.081%
Price spread now: Bybit against Backpack0.000%7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$133as in the Funding arb table
Net, price: spread back to 7d avg − costs−$93as in the Price arb table
costs, in and out, $10k−$900.896% of the position
Funding, last 7 days−0.431%−$43 on $10k
+Price spread, last 4 days (all we have)+0.023%+$2 · spread now 0.000%, 7d avg +0.036%
=Funding pays, the price is against you. Bybit is 0.036% cheaper against Backpack than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.036%). If the spread goes back, that is −$4 on $10k: about 2 hours of funding at the current rate (+$40 a day). Mind the row above: over the last 7 days funding on this pair cost −0.431%, 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 -0.431% in total (about -22.4% 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 | 0.04678 | −0.1299 | get 0.0162% / 1h | 31m 34s | $14K | $234K | 5x |
| Short | Bybit CHIPUSDT | 0.04678 | 0.0030 | get 0.0015% / 4h | 31m 34s | $10.9M | $8.9M | 20x |
Backpack CHIP_USDC_PERP
Bybit CHIPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $279.04
- Price spread: 0.000% → +0.036%
- −$3.56
- Slippage, 4 orders
- −$68.58
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $185.9
- Costs to cover
- 0.896%
- Break-even
- 2.3 days
Slippage from Backpack: live order book, 47 min ago; Bybit: 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, 47 min ago | 1.09 bp | 9.3 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.07 bp | 30.7 bp −$31 | 124.3 bp −$1,243 | 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_PERPlong | −0.1299% | 1h | 0.04678 | long leg | $14K | $234K | 5x | |
| Phoenix CHIP | −0.0173% | 1h | 0.04696 | +0.385% | $3K | $140K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0137% | 1h | 0.04691 | +0.278% | $14K | $248K | 50x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0063% | 4h | 0.04674 | −0.086% | $1.9M | $9.3M | 20x | as long as short |
| Aftermath Perps CHIPUSD | −0.0046% | 1h | 0.04699 | +0.442% | $87 | $39K | 5x | as long as short |
| BloFin CHIP-USDT | −0.0006% | 4h | 0.04684 | +0.128% | $547K | $67K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04685 | +0.143% | $10K | $24K | 10x | as long as short |
| Bybit CHIPUSDTshort | +0.0030% | 4h | 0.04678 | 0.000% | $10.9M | $8.9M | 20x | |
| MEXC CHIP_USDT | +0.0036% | 4h | 0.04677 | −0.021% | $1.8M | $1.1M | 50x | as long as short |
| Extended CHIP-USD | +0.0040% | 1h | 0.04676 | −0.049% | $214K | $1.3M | 5x | as long as short |
Phoenix CHIP
ApeX Omni CHIPUSDT
OKX CHIP-USDT-SWAP
Aftermath Perps CHIPUSD
BloFin CHIP-USDT
Deribit CHIP_USDC-PERPETUAL
MEXC CHIP_USDT
Extended CHIP-USDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDT | +0.0042% | 4h | 0.04676 | −0.032% | $14.1M | $26.2M | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04679 | +0.021% | $87K | $108K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04691 | +0.271% | $14.8M | $6.8M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04682 | +0.093% | $51K | $237K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04680 | +0.043% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04683 | +0.107% | $693K | $912K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04681 | +0.064% | $987K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04678 | 0.000% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04676 | −0.043% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04704 | +0.566% | $885K | $468K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04676 | −0.043% | $818 | $1.1M | 10x | as long as short |
| Nado CHIP-PERP | +0.0302% | 1h | 0.04677 | −0.011% | $234K | $18K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0840% | 1h | 0.04739 | +1.298% | $46K | $41K | 50x | as long as short |
Binance CHIPUSDT
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Nado CHIP-PERP
Coinbase International CHIP-PERP-INTX