Funding you earn now, next payment 08:00 UTC+0.0110%/8h= +12.1% APRnext payment +$0.14 per $10,000 · paid last 24h −0.213%
Price spread now: Backpack against Deribit+0.058%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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 +$3 a day on $10k at the current rate, and Backpack is 0.058% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit CHIP_USDC-PERPETUAL | 0.04788 | 0 | get 0.0000% / 1h | 1m 37s | $10K | $23K | 10x |
| Short | Backpack CHIP_USDC_PERP | 0.04791 | 0.0110 | get 0.0014% / 1h | 1m 37s | $26K | $213K | 5x |
Deribit CHIP_USDC-PERPETUAL
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- $23.17
- Price spread: +0.058% → 0.000%
- $5.85
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $12.01
- Costs to cover
- 0.170%
- Break-even
- 3.4 days
Slippage unknown: Deribit: no order-book sample; Backpack: live order book, 37 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 37 min ago | 3.15 bp | 12.9 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
Deribit: 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix CHIP | −0.0335% | 1h | 0.04790 | +0.038% | $3K | $125K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.0253% | 1h | 0.04795 | +0.142% | $17K | $246K | 50x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0085% | 4h | 0.04784 | −0.088% | $2.2M | $9.5M | 20x | as long as short |
| Aftermath Perps CHIPUSD | −0.0063% | 1h | 0.04788 | +0.001% | $114 | $35K | 5x | as long as short |
| KuCoin CHIPUSDTM | −0.0060% | 4h | 0.04786 | −0.046% | $996K | $1.1M | 50x | as long as short |
| Bybit CHIPUSDT | −0.0033% | 4h | 0.04789 | +0.017% | $10.9M | $8.9M | 20x | as long as short |
| Deribit CHIP_USDC-PERPETUALlong | 0.0000% | 1h | 0.04788 | long leg | $10K | $23K | 10x | |
| Nado CHIP-PERP | +0.0029% | 1h | 0.04781 | −0.150% | $242K | $18K | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04789 | +0.017% | $99K | $107K | 3x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04794 | +0.117% | $14.8M | $5.9M | 3x | as long as short |
Phoenix CHIP
ApeX Omni CHIPUSDT
OKX CHIP-USDT-SWAP
Aftermath Perps CHIPUSD
KuCoin CHIPUSDTM
Bybit CHIPUSDT
Nado CHIP-PERP
Lighter CHIP
Hyperliquid CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster CHIPUSDT | +0.0100% | 4h | 0.04787 | −0.029% | $49K | $275K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04789 | +0.017% | $16K | $4K | 3x | as long as short |
| Binance CHIPUSDT | +0.0100% | 4h | 0.04786 | −0.048% | $14.4M | $26.7M | 50x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04781 | −0.150% | $678K | $979K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04786 | −0.046% | $1.9M | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04787 | −0.025% | $2.0M | $3.4M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04786 | −0.046% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04788 | −0.007% | $924K | $472K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04781 | −0.150% | $665 | $1.0M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04784 | −0.091% | $220K | $1.9M | 5x | as long as short |
| Backpack CHIP_USDC_PERPshort | +0.0110% | 1h | 0.04791 | +0.058% | $26K | $213K | 5x | |
| BloFin CHIP-USDT | +0.0154% | 4h | 0.04783 | −0.109% | $573K | $100K | 50x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0920% | 1h | 0.04799 | +0.230% | $46K | $37K | 50x | as long as short |
Aster CHIPUSDT
Pacifica CHIP
Binance CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
BloFin CHIP-USDT
Coinbase International CHIP-PERP-INTX