Funding arb · Price arb /

CHIP

all CHIP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.1030%/8h= +112.8% APRpaid last 24h +0.259%

Price spread now: Coinbase International against Bybit+3.223%54s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Coinbase International is 3.223% dearer against Bybit than usual: you sell high and buy low: +$322 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CHIPUSDT	0.04608	−0.0214	get 0.0107% / 4h	2h 20m	$10.7M	$8.9M	20x
Short	Coinbase International CHIP-PERP-INTX	0.04757	0.0816	get 0.0102% / 1h	20m 30s	$46K	$41K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +3.223%Rate

Funding earned: $216.4
Price spread: +3.223% → 0.000%: $322.27
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $517.66
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 3 min ago; Coinbase International: no order-book sample. Net counts fees only.

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 Bybit live order book, 3 min ago	3.25 bp	29.5 bp −$30	137.6 bp −$1,376	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0882%	1h	0.04606	−0.043%	$16K	$234K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0577%	1h	0.04607	−0.022%	$14K	$248K	50x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0552%	1h	0.04608	0.000%	$10K	$24K	10x	as long as short
Bybit CHIPUSDTlong	−0.0214%	4h	0.04608	long leg	$10.7M	$8.9M	20x
OKX CHIP-USDT-SWAP	−0.0185%	4h	0.04606	−0.043%	$1.9M	$9.2M	20x	as long as short
Nado CHIP-PERP	−0.0183%	1h	0.04605	−0.076%	$230K	$18K	5x	as long as short
Phoenix CHIP	−0.0173%	1h	0.04618	+0.217%	$3K	$143K	5x	as long as short
BloFin CHIP-USDT	−0.0145%	4h	0.04603	−0.109%	$541K	$66K	50x	as long as short
Binance CHIPUSDT	−0.0121%	4h	0.04603	−0.109%	$13.9M	$25.7M	50x	as long as short
Extended CHIP-USD	−0.0120%	1h	0.04604	−0.077%	$210K	$1.3M	5x	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	−0.0118%	4h	0.04603	−0.109%	$1.8M	$1.2M	50x	as long as short
Aftermath Perps CHIPUSD	−0.0087%	1h	0.04608	+0.003%	$115	$39K	5x	as long as short
Aster CHIPUSDT	−0.0022%	4h	0.04607	−0.025%	$44K	$226K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04605	−0.065%	$85K	$110K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04612	+0.089%	$14.8M	$6.5M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04605	−0.056%	$13K	$628	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04609	+0.022%	$692K	$899K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04607	−0.022%	$984K	$1.0M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04606	−0.043%	$2.0M	$3.0M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04604	−0.087%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04618	+0.224%	$840K	$462K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04602	−0.130%	$622	$1.0M	10x	as long as short
Coinbase International CHIP-PERP-INTXshort	+0.0816%	1h	0.04757	+3.223%	$46K	$41K	50x