Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0674%/8h= −73.8% APRpaid last 24h −0.244%

Price spread now: MEXC against Coinbase International−2.571%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 MEXC

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 −$20 a day on $10k at the current rate, and MEXC is 2.571% cheaper against Coinbase International than usual: you would sell low and buy high (−$257 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	0.0736	pay 0.0092% / 1h	23m 09s	$47K	$42K	50x
Short	MEXC CHIP_USDT	0.04730	0.0062	get 0.0031% / 4h	23m 09s	$1.8M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −2.571%Rate

Funding earned: −$141.54
Price spread: −2.571% → 0.000%: −$257.07
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$408.61
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago	2.12 bp	20.7 bp −$21	89.1 bp −$891	243.6 bp −$24.4K	770.2 bp −$385.1K

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	−0.0623%	1h	0.04734	−2.488%	$33K	$249K	5x	as long as short
Phoenix CHIP	−0.0510%	1h	0.04723	−2.715%	$3K	$129K	5x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0489%	1h	0.04730	−2.575%	$10K	$24K	10x	as long as short
ApeX Omni CHIPUSDT	−0.0430%	1h	0.04736	−2.447%	$16K	$245K	50x	as long as short
Bybit CHIPUSDT	−0.0414%	4h	0.04736	−2.447%	$10.9M	$9.1M	20x	as long as short
OKX CHIP-USDT-SWAP	−0.0377%	4h	0.04731	−2.550%	$2.0M	$9.7M	20x	as long as short
Nado CHIP-PERP	−0.0135%	1h	0.04733	−2.509%	$239K	$20K	5x	as long as short
Aster CHIPUSDT	−0.0064%	4h	0.04738	−2.406%	$53K	$277K	5x	as long as short
BloFin CHIP-USDT	+0.0037%	4h	0.04724	−2.694%	$562K	$64K	50x	as long as short
MEXC CHIP_USDTshort	+0.0062%	4h	0.04730	−2.571%	$1.8M	$1.2M	50x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CHIPUSDT	+0.0062%	4h	0.04729	−2.591%	$14.3M	$26.9M	50x	as long as short
Extended CHIP-USD	+0.0064%	1h	0.04727	−2.627%	$216K	$1.9M	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04734	−2.488%	$97K	$117K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04741	−2.342%	$14.7M	$6.3M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04740	−2.365%	$16K	$3K	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04732	−2.529%	$689K	$966K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04733	−2.509%	$990K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04731	−2.550%	$2.0M	$3.3M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04731	−2.550%	—	$2.0M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04728	−2.609%	$841K	$527K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04731	−2.550%	$789	$1.0M	10x	as long as short
Aftermath Perps CHIPUSD	+0.0201%	1h	0.04724	−2.692%	$46	$37K	5x	as long as short
Coinbase International CHIP-PERP-INTXlong	+0.0736%	1h	0.04855	long leg	$47K	$42K	50x