Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.067%

Price spread now: MEXC against Deribit−0.201%7-day average — · you buy dearer than you sell

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

Long on Deribit 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

Funding pays, the price is against you. MEXC is 0.201% cheaper against Deribit than usual: you would sell low and buy high (spread −0.201% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 6.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CHIP_USDC-PERPETUAL	0.04628	0	get 0.0000% / 1h	33m 56s	$10K	$24K	10x
Short	MEXC CHIP_USDT	0.04619	0.0100	get 0.0050% / 4h	3h 33m	$1.8M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now −0.201%Rate

Funding earned: $21
Price spread: −0.201% → 0.000%: −$20.09
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$6.09
Costs to cover: 0.070%
Break-even: 9.0 days

Slippage unknown: Deribit: 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 Deribit no order-book sample	—	—	—	—	—
Sell MEXC live order book, 3 min ago	2.17 bp	14.2 bp −$14	66.8 bp −$668	257.0 bp −$25.7K	795.5 bp −$397.7K

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
Backpack CHIP_USDC_PERP	−0.1168%	1h	0.04623	−0.115%	$14K	$233K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0518%	1h	0.04624	−0.093%	$14K	$248K	50x	as long as short
Nado CHIP-PERP	−0.0180%	1h	0.04618	−0.212%	$231K	$18K	5x	as long as short
Phoenix CHIP	−0.0172%	1h	0.04618	−0.223%	$3K	$140K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0051%	4h	0.04619	−0.201%	$1.9M	$9.0M	20x	as long as short
Deribit CHIP_USDC-PERPETUALlong	0.0000%	1h	0.04628	long leg	$10K	$24K	10x
BloFin CHIP-USDT	+0.0085%	4h	0.04617	−0.244%	$547K	$65K	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04627	−0.028%	$86K	$108K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04627	−0.019%	$14.5M	$6.6M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04625	−0.071%	$48K	$237K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CHIP	+0.0100%	1h	0.04620	−0.179%	$13K	$628	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04619	−0.201%	$13.9M	$26.0M	50x	as long as short
Bybit CHIPUSDT	+0.0100%	4h	0.04623	−0.115%	$10.8M	$8.7M	20x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04622	−0.136%	$683K	$907K	50x	as long as short
MEXC CHIP_USDTshort	+0.0100%	4h	0.04619	−0.201%	$1.8M	$1.2M	50x
KuCoin CHIPUSDTM	+0.0100%	4h	0.04623	−0.115%	$973K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04620	−0.179%	$1.9M	$3.2M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04620	−0.179%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04618	−0.227%	$866K	$469K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04621	−0.158%	$617	$1.1M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04618	−0.232%	$210K	$2.0M	5x	as long as short
Aftermath Perps CHIPUSD	+0.0358%	1h	0.04619	−0.201%	$85	$38K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0928%	1h	0.04647	+0.404%	$45K	$40K	50x	as long as short