Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0732%/8h= −80.2% APRpaid last 24h −0.249%

Price spread now: KuCoin against Coinbase International−2.529%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on KuCoin

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 against this trade now: funding costs −$22 a day on $10k at the current rate, and KuCoin is 2.529% cheaper against Coinbase International than usual: you would sell low and buy high (−$253 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CHIP-PERP-INTX	0.04855	0.0832	pay 0.0104% / 1h	8m 18s	$47K	$42K	50x
Short	KuCoin CHIPUSDTM	0.04732	0.0100	get 0.0050% / 4h	1h 08m	$987K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now −2.529%Rate

Funding earned: −$153.72
Price spread: −2.529% → 0.000%: −$252.95
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$428.67
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; KuCoin: live order book, 6 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 6 min ago	9.41 bp	47.8 bp −$48	459.3 bp −$4,593	doesn't fit	doesn't fit

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
ApeX Omni CHIPUSDT	−0.0634%	1h	0.04769	−1.767%	$16K	$246K	50x	as long as short
Bybit CHIPUSDT	−0.0599%	4h	0.04730	−2.571%	$10.9M	$8.9M	20x	as long as short
Backpack CHIP_USDC_PERP	−0.0464%	1h	0.04731	−2.550%	$30K	$239K	5x	as long as short
Phoenix CHIP	−0.0337%	1h	0.04742	−2.323%	$3K	$130K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0306%	4h	0.04725	−2.674%	$2.0M	$9.5M	20x	as long as short
Aster CHIPUSDT	−0.0093%	4h	0.04737	−2.421%	$49K	$273K	5x	as long as short
Nado CHIP-PERP	+0.0034%	1h	0.04731	−2.540%	$239K	$20K	5x	as long as short
Binance CHIPUSDT	+0.0068%	4h	0.04731	−2.544%	$14.3M	$26.5M	50x	as long as short
Extended CHIP-USD	+0.0072%	1h	0.04733	−2.504%	$219K	$1.9M	5x	as long as short
BloFin CHIP-USDT	+0.0073%	4h	0.04724	−2.694%	$573K	$62K	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	+0.0074%	4h	0.04730	−2.571%	$1.8M	$1.2M	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04735	−2.468%	$88K	$107K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04743	−2.305%	$14.9M	$6.2M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04734	−2.488%	$16K	$3K	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04730	−2.571%	$690K	$957K	50x	as long as short
KuCoin CHIPUSDTMshort	+0.0100%	4h	0.04732	−2.529%	$987K	$1.1M	50x
Bitget CHIPUSDT	+0.0100%	4h	0.04736	−2.447%	$2.0M	$3.3M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04739	−2.385%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04748	−2.209%	$845K	$529K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04728	−2.612%	$683	$1.0M	10x	as long as short
Deribit CHIP_USDC-PERPETUAL	+0.0277%	1h	0.04747	−2.223%	$10K	$24K	10x	as long as short
Aftermath Perps CHIPUSD	+0.0386%	1h	0.04766	−1.822%	$135	$38K	5x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0832%	1h	0.04855	long leg	$47K	$42K	50x