Funding you earn now, next payment 05:00 UTC−0.0540%/8h= −59.1% APRpaid last 24h −0.146%
Price spread now: Backpack against BingX+0.085%7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$710.711% of the position
Funding, last 7 days+0.227%+$23 on $10k
+Price spread, last 4 days (all we have)−0.032%−$3 · spread now +0.085%, 7d avg +0.009%
=The price spread pays, funding is against you. Backpack is 0.077% dearer against BingX than usual: you sell high and buy low (spread +0.085% now, against its 7-day average of +0.009%): +$8 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 11 hours. Mind the row above: over the last 7 days funding on this pair paid +0.227%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.227% in total (about 11.8% 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 | BingX CHIP-USDT | 0.04688 | 0.0100 | pay 0.0050% / 4h | 3h 32m | — | $2.0M | — |
| Short | Backpack CHIP_USDC_PERP | 0.04692 | −0.0440 | pay 0.0055% / 1h | 32m 23s | $34K | $229K | 5x |
BingX CHIP-USDT
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against BingX. 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
- −$113.44
- Price spread: +0.085% → +0.009%
- $7.65
- Slippage, 4 orders
- −$51.07
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$176.85
- Costs to cover
- 0.711%
- Break-even
- never at this rate
Slippage from BingX: live order book, 1 min ago; Backpack: live order book, 21 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 BingX live order book, 1 min ago | 4.27 bp | 19.6 bp −$20 | 75.3 bp −$753 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 21 min ago | 3.17 bp | 13.0 bp −$13 | 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 | −0.0685% | 4h | 0.04688 | 0.000% | $10.7M | $9.1M | 20x | as long as short |
| Backpack CHIP_USDC_PERPshort | −0.0440% | 1h | 0.04692 | +0.085% | $34K | $229K | 5x | |
| Phoenix CHIP | −0.0338% | 1h | 0.04685 | −0.064% | $3K | $137K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0327% | 4h | 0.04687 | −0.021% | $2.0M | $9.6M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0175% | 1h | 0.04691 | +0.064% | $16K | $244K | 50x | as long as short |
| Gate CHIP_USDT | −0.0138% | 4h | 0.04688 | 0.000% | $680K | $980K | 50x | as long as short |
| Nado CHIP-PERP | −0.0040% | 1h | 0.04688 | 0.000% | $237K | $18K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04693 | +0.107% | $9K | $24K | 10x | as long as short |
| Aster CHIPUSDT | +0.0053% | 4h | 0.04694 | +0.131% | $56K | $279K | 5x | as long as short |
| BloFin CHIP-USDT | +0.0061% | 4h | 0.04686 | −0.043% | $563K | $65K | 50x | as long as short |
Bybit CHIPUSDT
Phoenix CHIP
OKX CHIP-USDT-SWAP
ApeX Omni CHIPUSDT
Gate CHIP_USDT
Nado CHIP-PERP
Deribit CHIP_USDC-PERPETUAL
Aster CHIPUSDT
BloFin CHIP-USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin CHIPUSDTM | +0.0070% | 4h | 0.04688 | 0.000% | $971K | $1.1M | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04691 | +0.064% | $96K | $114K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04698 | +0.220% | $14.5M | $6.2M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04690 | +0.043% | $16K | $3K | 3x | as long as short |
| Binance CHIPUSDT | +0.0100% | 4h | 0.04689 | +0.021% | $14.2M | $27.0M | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04689 | +0.021% | $1.7M | $1.2M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04686 | −0.043% | $2.0M | $3.4M | 50x | as long as short |
| BingX CHIP-USDTlong | +0.0100% | 4h | 0.04688 | long leg | — | $2.0M | — | |
| Variational Omni CHIP | +0.0100% | 4h | 0.04683 | −0.103% | $829K | $529K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04684 | −0.085% | $778 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04684 | −0.081% | $213K | $1.9M | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0153% | 1h | 0.04692 | +0.075% | $129 | $37K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0744% | 1h | 0.04765 | +1.642% | $46K | $37K | 50x | as long as short |
KuCoin CHIPUSDTM
Lighter CHIP
Hyperliquid CHIP
Pacifica CHIP
Binance CHIPUSDT
MEXC CHIP_USDT
Bitget CHIPUSDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX