Funding you earn now, next payment 09:00 UTC−0.0954%/8h= −104.5% APRpaid last 24h +0.166%
Price spread now: MEXC against Backpack+0.438%7-day average −0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$4as in the Price arb table
costs, in and out, $10k−$500.496% of the position
Funding, last 7 days−0.218%−$22 on $10k
+Price spread, last 4 days (all we have)−0.430%−$43 · spread now +0.438%, 7d avg −0.020%
=The price spread pays, funding is against you. MEXC is 0.458% dearer against Backpack than usual: you sell high and buy low (spread +0.438% now, against its 7-day average of −0.020%): +$46 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 38 hours. At the pace of the last 7 days (−0.218% in total) that is about 15 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.218% in total (about -11.4% 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 | 0.04795 | 0.1054 | pay 0.0132% / 1h | 57m 41s | $26K | $212K | 5x |
| Short | MEXC CHIP_USDT | 0.04816 | 0.0100 | get 0.0050% / 4h | 3h 57m | $1.9M | $1.0M | 50x |
Backpack CHIP_USDC_PERP
MEXC CHIP_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$200.32
- Price spread: +0.438% → −0.020%
- $45.77
- Slippage, 4 orders
- −$39.65
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$204.19
- Costs to cover
- 0.496%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 41 min ago; MEXC: live order book, 4 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, 41 min ago | 3.15 bp | 15.1 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 4 min ago | 1.04 bp | 8.0 bp −$8 | 75.2 bp −$752 | 233.8 bp −$23.4K | 615.9 bp −$307.9K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix CHIP | −0.0335% | 1h | 0.04782 | −0.271% | $3K | $121K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0255% | 1h | 0.04780 | −0.313% | $17K | $247K | 50x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0062% | 4h | 0.04813 | +0.375% | $2.2M | $9.6M | 20x | as long as short |
| Aftermath Perps CHIPUSD | −0.0039% | 1h | 0.04792 | −0.067% | $57 | $35K | 5x | as long as short |
| KuCoin CHIPUSDTM | −0.0038% | 4h | 0.04814 | +0.396% | $1.0M | $1.1M | 50x | as long as short |
| BloFin CHIP-USDT | +0.0089% | 4h | 0.04798 | +0.063% | $578K | $100K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04816 | +0.438% | $100K | $106K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04816 | +0.444% | $14.9M | $5.9M | 3x | as long as short |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04814 | +0.403% | $49K | $275K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04814 | +0.394% | $16K | $4K | 3x | as long as short |
Phoenix CHIP
ApeX Omni CHIPUSDT
OKX CHIP-USDT-SWAP
Aftermath Perps CHIPUSD
KuCoin CHIPUSDTM
BloFin CHIP-USDT
Lighter CHIP
Hyperliquid CHIP
Aster CHIPUSDT
Pacifica CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDT | +0.0100% | 4h | 0.04813 | +0.375% | $14.4M | $26.8M | 50x | as long as short |
| Bybit CHIPUSDT | +0.0100% | 4h | 0.04815 | +0.417% | $11.0M | $9.0M | 20x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04814 | +0.396% | $682K | $967K | 50x | as long as short |
| MEXC CHIP_USDTshort | +0.0100% | 4h | 0.04816 | +0.438% | $1.9M | $1.0M | 50x | |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04814 | +0.396% | $2.0M | $3.4M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04814 | +0.396% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04791 | −0.086% | $923K | $472K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04796 | +0.021% | $572 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04812 | +0.350% | $219K | $1.9M | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0230% | 1h | 0.04797 | +0.050% | $10K | $23K | 10x | as long as short |
| Nado CHIP-PERP | +0.0382% | 1h | 0.04788 | −0.136% | $242K | $18K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0896% | 1h | 0.04815 | +0.413% | $46K | $37K | 50x | as long as short |
| Backpack CHIP_USDC_PERPlong | +0.1054% | 1h | 0.04795 | long leg | $26K | $212K | 5x |
Binance CHIPUSDT
Bybit CHIPUSDT
Gate CHIP_USDT
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Deribit CHIP_USDC-PERPETUAL
Nado CHIP-PERP
Coinbase International CHIP-PERP-INTX