Funding you earn now, next payment 04:00 UTC+0.0933%/8h= +102.2% APRnext payment +$1.17 per $10,000 · paid last 24h +0.141%
Price spread now: Lighter against Backpack−0.150%7-day average +0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$113as in the Funding arb table
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$830.832% of the position
Funding, last 7 days−0.296%−$30 on $10k
+Price spread, last 4 days (all we have)−0.069%−$7 · spread now −0.150%, 7d avg +0.003%
=Together, before fees−0.365%+ Points / potential airdropLighter: Season 3 · farm board−$36 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.153% cheaper against Backpack than usual: you would sell low and buy high (spread −0.150% now, against its 7-day average of +0.003%). If the spread goes back, that is −$15 on $10k: about 13 hours of funding at the current rate (+$28 a day). Mind the row above: over the last 7 days funding on this pair cost −0.296%, 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 -0.296% in total (about -15.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.17 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 | 0.04673 | −0.0837 | get 0.0105% / 1h | 50m 22s | $33K | $243K | 5x |
| Short | Lighter CHIP | 0.04666 | 0.0096 | get 0.0012% / 1h | 50m 22s | $86K | $107K | 3x |
Backpack CHIP_USDC_PERP
Lighter CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $195.93
- Price spread: −0.150% → +0.003%
- −$15.32
- Slippage, 4 orders
- −$73.22
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $97.4
- Costs to cover
- 0.832%
- Break-even
- 3.5 days
Slippage from Backpack: live order book, 8 min ago; Lighter: live order book, 54 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, 8 min ago | 2.13 bp | 13.3 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 54 min ago | 10.52 bp | 26.5 bp −$26 | 130.4 bp −$1,304 | 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 | −0.0837% | 1h | 0.04673 | long leg | $33K | $243K | 5x | |
| Bybit CHIPUSDT | −0.0536% | 4h | 0.04667 | −0.128% | $10.7M | $9.0M | 20x | as long as short |
| Phoenix CHIP | −0.0510% | 1h | 0.04726 | +1.134% | $3K | $129K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0498% | 1h | 0.04674 | +0.015% | $10K | $24K | 10x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0346% | 4h | 0.04661 | −0.257% | $2.0M | $9.4M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0199% | 1h | 0.04695 | +0.471% | $16K | $245K | 50x | as long as short |
| Aster CHIPUSDT | −0.0099% | 4h | 0.04665 | −0.179% | $49K | $275K | 5x | as long as short |
| Nado CHIP-PERP | −0.0063% | 1h | 0.04671 | −0.043% | $236K | $20K | 5x | as long as short |
| BloFin CHIP-USDT | +0.0060% | 4h | 0.04669 | −0.086% | $560K | $63K | 50x | as long as short |
| Extended CHIP-USD | +0.0072% | 1h | 0.04663 | −0.208% | $213K | $1.9M | 5x | as long as short |
Bybit CHIPUSDT
Phoenix CHIP
Deribit CHIP_USDC-PERPETUAL
OKX CHIP-USDT-SWAP
ApeX Omni CHIPUSDT
Aster CHIPUSDT
Nado CHIP-PERP
BloFin CHIP-USDT
Extended CHIP-USDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC CHIP_USDT | +0.0074% | 4h | 0.04669 | −0.086% | $1.8M | $1.2M | 50x | as long as short |
| Binance CHIPUSDT | +0.0076% | 4h | 0.04664 | −0.193% | $14.1M | $26.7M | 50x | as long as short |
| Lighter CHIPshort | +0.0096% | 1h | 0.04666 | −0.150% | $86K | $107K | 3x | |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04679 | +0.124% | $14.6M | $6.2M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04670 | −0.064% | $16K | $3K | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04664 | −0.193% | $677K | $950K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04673 | 0.000% | $978K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04669 | −0.086% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04665 | −0.171% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04671 | −0.050% | $832K | $529K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04667 | −0.128% | $917 | $1.0M | 10x | as long as short |
| Aftermath Perps CHIPUSD | +0.0352% | 1h | 0.04702 | +0.617% | $133 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0736% | 1h | 0.04855 | +3.890% | $47K | $42K | 50x | as long as short |
MEXC CHIP_USDT
Binance CHIPUSDT
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX