Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0149%/8h= −16.3% APRpaid last 24h +0.065%

Price spread now: Deribit against Gate+0.094%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.094% dearer against Gate than usual: you sell high and buy low (spread +0.094% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CHIP_USDT	0.04680	0.0100	pay 0.0050% / 4h	3h 11m	$693K	$911K	50x
Short	Deribit CHIP_USDC-PERPETUAL	0.04684	−0.0049	pay 0.0006% / 1h	11m 48s	$10K	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now +0.094%Rate

Funding earned: −$31.24
Price spread: +0.094% → 0.000%: $9.4
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$43.84
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 60 min ago; Deribit: 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 Gate live order book, 60 min ago	5.39 bp	43.7 bp −$44	255.0 bp −$2,550	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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	−0.0796%	1h	0.04680	0.000%	$14K	$229K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0273%	1h	0.04674	−0.128%	$17K	$249K	50x	as long as short
Phoenix CHIP	−0.0172%	1h	0.04677	−0.064%	$3K	$140K	5x	as long as short
Nado CHIP-PERP	−0.0135%	1h	0.04681	+0.021%	$234K	$18K	5x	as long as short
Deribit CHIP_USDC-PERPETUALshort	−0.0049%	1h	0.04684	+0.094%	$10K	$24K	10x
OKX CHIP-USDT-SWAP	−0.0002%	4h	0.04675	−0.107%	$2.0M	$9.1M	20x	as long as short
Lighter CHIP	+0.0096%	1h	0.04682	+0.043%	$87K	$108K	3x	as long as short
BloFin CHIP-USDT	+0.0096%	4h	0.04677	−0.064%	$550K	$65K	50x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04692	+0.259%	$14.7M	$6.5M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04683	+0.061%	$49K	$238K	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	0.04682	+0.034%	$13K	$628	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04677	−0.068%	$14.1M	$26.0M	50x	as long as short
Bybit CHIPUSDT	+0.0100%	4h	0.04678	−0.043%	$10.9M	$8.6M	20x	as long as short
Gate CHIP_USDTlong	+0.0100%	4h	0.04680	long leg	$693K	$911K	50x
MEXC CHIP_USDT	+0.0100%	4h	0.04677	−0.064%	$1.8M	$1.2M	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04682	+0.043%	$979K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04681	+0.021%	$2.0M	$3.2M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04679	−0.021%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04671	−0.186%	$877K	$467K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04679	−0.021%	$839	$1.0M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04676	−0.075%	$212K	$1.9M	5x	as long as short
Aftermath Perps CHIPUSD	+0.0324%	1h	0.04669	−0.236%	$145	$38K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0928%	1h	0.04696	+0.353%	$45K	$40K	50x	as long as short