Funding you earn now, next payment 01:00 UTC−0.1112%/8h= −121.7% APRnext payment −$1.39 per $10,000 · paid last 24h −0.131%
Price spread now: Backpack against Hyperliquid−0.174%7-day average −0.171% · you buy dearer than you sell
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$610.612% of the position
Funding, last 7 days+0.167%+$17 on $10k
+Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.174%, 7d avg −0.171%
=Together, before fees+0.154%+ Points / potential airdropHyperliquid: Season 2 · farm board+$15 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.171%, so right now this pair is about funding alone: −$33 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.167%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.167% in total (about 8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.39 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid CHIP | 0.04649 | 0.0100 | pay 0.0013% / 1h | 20m 42s | $14.6M | $6.5M | 3x |
| Short | Backpack CHIP_USDC_PERP | 0.04641 | −0.1012 | pay 0.0126% / 1h | 20m 42s | $14K | $229K | 5x |
Hyperliquid CHIP
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hyperliquid. 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
- −$233.42
- Price spread: −0.174% → −0.171%
- −$0.36
- Slippage, 4 orders
- −$42.16
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$294.94
- Costs to cover
- 0.612%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 2 min ago; Backpack: live order book, 52 min ago.
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 Hyperliquid live order book, 2 min ago | 1.39 bp | 19.3 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 52 min ago | 1.08 bp | 16.2 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
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_PERPshort | −0.1012% | 1h | 0.04641 | −0.174% | $14K | $229K | 5x | |
| ApeX Omni CHIPUSDT | −0.0312% | 1h | 0.04651 | +0.041% | $17K | $249K | 50x | as long as short |
| Phoenix CHIP | −0.0172% | 1h | 0.04653 | +0.084% | $3K | $140K | 5x | as long as short |
| Nado CHIP-PERP | −0.0154% | 1h | 0.04643 | −0.120% | $232K | $18K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0021% | 4h | 0.04640 | −0.196% | $1.9M | $9.1M | 20x | as long as short |
| BloFin CHIP-USDT | +0.0064% | 4h | 0.04639 | −0.217% | $546K | $65K | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04643 | −0.131% | $86K | $108K | 3x | as long as short |
| Hyperliquid CHIPlong | +0.0100% | 1h | 0.04649 | long leg | $14.6M | $6.5M | 3x | |
| Aster CHIPUSDT | +0.0100% | 4h | 0.04647 | −0.055% | $48K | $237K | 5x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04642 | −0.155% | $13K | $628 | 3x | as long as short |
ApeX Omni CHIPUSDT
Phoenix CHIP
Nado CHIP-PERP
OKX CHIP-USDT-SWAP
BloFin CHIP-USDT
Lighter CHIP
Aster CHIPUSDT
Pacifica CHIPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDT | +0.0100% | 4h | 0.04639 | −0.213% | $14.0M | $26.0M | 50x | as long as short |
| Bybit CHIPUSDT | +0.0100% | 4h | 0.04642 | −0.153% | $10.8M | $8.7M | 20x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04648 | −0.024% | $688K | $908K | 50x | as long as short |
| MEXC CHIP_USDT | +0.0100% | 4h | 0.04641 | −0.174% | $1.8M | $1.2M | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04644 | −0.110% | $971K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04644 | −0.110% | $2.0M | $3.2M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04641 | −0.174% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04642 | −0.158% | $872K | $467K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04640 | −0.196% | $699 | $1.1M | 10x | as long as short |
| Extended CHIP-USD | +0.0104% | 1h | 0.04640 | −0.186% | $211K | $2.0M | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | +0.0224% | 1h | 0.04648 | −0.024% | $10K | $24K | 10x | as long as short |
| Aftermath Perps CHIPUSD | +0.0336% | 1h | 0.04646 | −0.063% | $196 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0928% | 1h | 0.04664 | +0.318% | $45K | $40K | 50x | as long as short |
Binance CHIPUSDT
Bybit CHIPUSDT
Gate CHIP_USDT
MEXC CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Extended CHIP-USD
Deribit CHIP_USDC-PERPETUAL
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX