Funding you earn now, next payment 03:00 UTC+0.0530%/8h= +58.1% APRnext payment +$0.66 per $10,000 · paid last 24h +0.154%
Price spread now: Hyperliquid against Backpack+0.156%7-day average +0.173% · you sell dearer than you buy
Net, funding: paid 7d − costs−$82as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$690.688% of the position
Funding, last 7 days−0.128%−$13 on $10k
+Price spread, last 4 days (all we have)−0.639%−$64 · spread now +0.156%, 7d avg +0.173%
=Together, before fees−0.767%+ Points / potential airdropHyperliquid: Season 2 · farm board−$77 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.173%, so right now this pair is about funding alone: +$16 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.128%, 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 -0.128% in total (about -6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.66 per $10,000. 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 | 0.04798 | −0.0430 | get 0.0054% / 1h | 19m 39s | $26K | $237K | 5x |
| Short | Hyperliquid CHIP | 0.04806 | 0.0100 | get 0.0013% / 1h | 19m 39s | $15.1M | $6.1M | 3x |
Backpack CHIP_USDC_PERP
Hyperliquid CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $111.37
- Price spread: +0.156% → +0.173%
- −$1.67
- Slippage, 4 orders
- −$49.77
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $40.92
- Costs to cover
- 0.688%
- Break-even
- 4.4 days
Slippage from Backpack: live order book, 44 min ago; Hyperliquid: live order book, 3 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, 44 min ago | 2.10 bp | 11.7 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 1.87 bp | 23.4 bp −$23 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CHIPUSDT | −0.0587% | 4h | 0.04796 | −0.042% | $11.1M | $8.9M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0535% | 1h | 0.04815 | +0.354% | $17K | $245K | 50x | as long as short |
| Backpack CHIP_USDC_PERPlong | −0.0430% | 1h | 0.04798 | long leg | $26K | $237K | 5x | |
| Phoenix CHIP | −0.0337% | 1h | 0.04798 | 0.000% | $3K | $130K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0269% | 4h | 0.04788 | −0.208% | $2.1M | $9.6M | 20x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0145% | 1h | 0.04804 | +0.115% | $10K | $24K | 10x | as long as short |
| Aster CHIPUSDT | −0.0042% | 4h | 0.04797 | −0.025% | $46K | $271K | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04794 | −0.083% | $89K | $107K | 3x | as long as short |
| Hyperliquid CHIPshort | +0.0100% | 1h | 0.04806 | +0.156% | $15.1M | $6.1M | 3x | |
| Pacifica CHIP | +0.0100% | 1h | 0.04791 | −0.144% | $14K | $689 | 3x | as long as short |
Bybit CHIPUSDT
ApeX Omni CHIPUSDT
Phoenix CHIP
OKX CHIP-USDT-SWAP
Deribit CHIP_USDC-PERPETUAL
Aster CHIPUSDT
Lighter 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 | 0.04789 | −0.188% | $14.5M | $26.4M | 50x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04797 | −0.021% | $708K | $950K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04786 | −0.250% | $1.8M | $1.2M | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04799 | +0.021% | $1.0M | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04793 | −0.104% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04790 | −0.167% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04817 | +0.388% | $857K | $529K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04797 | −0.021% | $772 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04793 | −0.098% | $221K | $1.9M | 5x | as long as short |
| Nado CHIP-PERP | +0.0107% | 1h | 0.04790 | −0.167% | $242K | $19K | 5x | as long as short |
| BloFin CHIP-USDT | +0.0125% | 4h | 0.04816 | +0.375% | $575K | $63K | 50x | as long as short |
| Aftermath Perps CHIPUSD | +0.0400% | 1h | 0.04805 | +0.140% | $123 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0832% | 1h | 0.04855 | +1.184% | $47K | $42K | 50x | as long as short |
Binance CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Nado CHIP-PERP
BloFin CHIP-USDT
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX