Funding you earn now, next payment 03:00 UTC+0.1309%/8h= +143.4% APRpaid last 24h +0.128%
Price spread now: OKX against Backpack0.000%46s7-day average −0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$107as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$720.718% of the position
Funding, last 7 days−0.348%−$35 on $10k
+Price spread, last 4 days (all we have)−0.690%−$69 · spread now 0.000%, 7d avg −0.032%
=Both sides work for this trade now. Funding pays +$39 a day on $10k at the current rate, and OKX is 0.032% dearer against Backpack than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.032%. Mind the row above: over the last 7 days funding on this pair cost −0.348%, so the current rate has only just turned in your favour. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.348% in total (about -18.2% 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 | 0.04748 | −0.1494 | get 0.0187% / 1h | 39m 14s | $29K | $215K | 5x |
| Short | OKX CHIP-USDT-SWAP | 0.04748 | −0.0185 | pay 0.0092% / 4h | 1h 39m | $2.0M | $9.5M | 20x |
Backpack CHIP_USDC_PERP
OKX CHIP-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $274.92
- Price spread: 0.000% → −0.032%
- $3.17
- Slippage, 4 orders
- −$51.81
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $206.27
- Costs to cover
- 0.718%
- Break-even
- 1.7 days
Slippage from Backpack: live order book, 24 min ago; OKX: 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, 24 min ago | 2.10 bp | 11.7 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 1.05 bp | 20.9 bp −$21 | 192.5 bp −$1,925 | 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 | −0.1494% | 1h | 0.04748 | long leg | $29K | $215K | 5x | |
| Bybit CHIPUSDT | −0.0394% | 4h | 0.04760 | +0.253% | $11.0M | $8.8M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0356% | 1h | 0.04754 | +0.126% | $17K | $244K | 50x | as long as short |
| Phoenix CHIP | −0.0337% | 1h | 0.04755 | +0.147% | $3K | $130K | 5x | as long as short |
| OKX CHIP-USDT-SWAPshort | −0.0185% | 4h | 0.04748 | 0.000% | $2.0M | $9.5M | 20x | |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04760 | +0.255% | $10K | $24K | 10x | as long as short |
| Aster CHIPUSDT | +0.0001% | 4h | 0.04746 | −0.036% | $45K | $271K | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04753 | +0.105% | $88K | $107K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04750 | +0.048% | $14.9M | $6.0M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04750 | +0.042% | $14K | $689 | 3x | as long as short |
Bybit CHIPUSDT
ApeX Omni CHIPUSDT
Phoenix CHIP
Deribit CHIP_USDC-PERPETUAL
Aster CHIPUSDT
Lighter CHIP
Hyperliquid 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 | 0.04753 | +0.105% | $14.4M | $26.3M | 50x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04744 | −0.084% | $701K | $946K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04743 | −0.105% | $1.8M | $1.1M | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04748 | 0.000% | $1.0M | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04749 | +0.021% | $2.0M | $3.3M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04748 | 0.000% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04739 | −0.198% | $843K | $528K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04740 | −0.168% | $877 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04745 | −0.069% | $216K | $1.9M | 5x | as long as short |
| BloFin CHIP-USDT | +0.0137% | 4h | 0.04732 | −0.337% | $564K | $62K | 50x | as long as short |
| Aftermath Perps CHIPUSD | +0.0344% | 1h | 0.04752 | +0.080% | $83 | $38K | 5x | as long as short |
| Nado CHIP-PERP | +0.0667% | 1h | 0.04740 | −0.158% | $239K | $19K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0832% | 1h | 0.04788 | +0.849% | $46K | $41K | 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
BloFin CHIP-USDT
Aftermath Perps CHIPUSD
Nado CHIP-PERP
Coinbase International CHIP-PERP-INTX