Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0699%/8h= −76.6% APRpaid last 24h −0.060%

Price spread now: ApeX Omni against Bitget−0.130%73s7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$116as 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−$730.727% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.433%−$43 on $10k

Price spread, last 3 days (all we have)+0.005%+$1 · spread now −0.130%, 7d avg −0.065%

Together, before fees−0.428%−$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and ApeX Omni is 0.065% cheaper against Bitget than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.065%). Swap the legs. The two prices were read 73 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 -0.433% in total (about -22.6% 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	Bitget CHIPUSDT	0.04617	0.0100	pay 0.0050% / 4h	2h 24m	$2.0M	$3.0M	50x
Short	ApeX Omni CHIPUSDT	0.04611	−0.0599	pay 0.0075% / 1h	24m 18s	$14K	$248K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BitgetbpFee ApeX OmnibpOrdersPrice spread, now −0.130%Rate

Funding earned: −$146.88
Price spread: −0.130% → −0.065%: −$6.52
Slippage, 4 orders: −$50.69
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$226.09
Costs to cover: 0.727%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; ApeX Omni: live order book, 62 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 Bitget live order book, 3 min ago	6.50 bp	18.4 bp −$18	55.6 bp −$556	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 62 min ago	8.58 bp	16.2 bp −$16	111.4 bp −$1,114	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_PERP	−0.1108%	1h	0.04611	−0.130%	$16K	$234K	5x	as long as short
ApeX Omni CHIPUSDTshort	−0.0599%	1h	0.04611	−0.130%	$14K	$248K	50x
Deribit CHIP_USDC-PERPETUAL	−0.0594%	1h	0.04615	−0.045%	$10K	$24K	10x	as long as short
Bybit CHIPUSDT	−0.0187%	4h	0.04617	0.000%	$10.7M	$8.9M	20x	as long as short
Nado CHIP-PERP	−0.0187%	1h	0.04612	−0.097%	$231K	$18K	5x	as long as short
Phoenix CHIP	−0.0173%	1h	0.04618	+0.022%	$3K	$143K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0170%	4h	0.04610	−0.152%	$1.9M	$9.2M	20x	as long as short
BloFin CHIP-USDT	−0.0152%	4h	0.04610	−0.152%	$542K	$66K	50x	as long as short
Extended CHIP-USD	−0.0120%	1h	0.04613	−0.086%	$210K	$1.3M	5x	as long as short
Binance CHIPUSDT	−0.0116%	4h	0.04611	−0.130%	$13.9M	$25.7M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC CHIP_USDT	−0.0114%	4h	0.04611	−0.130%	$1.8M	$1.2M	50x	as long as short
Aftermath Perps CHIPUSD	−0.0084%	1h	0.04607	−0.221%	$85	$39K	5x	as long as short
Aster CHIPUSDT	−0.0030%	4h	0.04616	−0.015%	$44K	$226K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04613	−0.087%	$86K	$110K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04620	+0.056%	$14.8M	$6.5M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04613	−0.082%	$13K	$628	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04616	−0.022%	$693K	$899K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04613	−0.087%	$986K	$1.0M	50x	as long as short
Bitget CHIPUSDTlong	+0.0100%	4h	0.04617	long leg	$2.0M	$3.0M	50x
BingX CHIP-USDT	+0.0100%	4h	0.04612	−0.108%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04618	+0.029%	$840K	$462K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04608	−0.195%	$603	$1.0M	10x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0816%	1h	0.04757	+3.021%	$46K	$41K	50x	as long as short