Funding you earn now, next payment 21:00 UTC−0.0273%/8h= −29.9% APRnext payment −$0.34 per $10,000 · paid last 24h −0.091%
Price spread now: Phoenix against Hyperliquid−0.083%7-day average −0.199% · you buy dearer than you sell
Net, funding: paid 7d − costs−$153as in the Funding arb table
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$860.865% of the position
Funding, last 7 days−0.668%−$67 on $10k
+Price spread, last 3 days (all we have)−0.123%−$12 · spread now −0.083%, 7d avg −0.199%
=Together, before fees−0.791%+ Points / potential airdropHyperliquid: Season 2 · farm board−$79 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.116% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.083% now, against its 7-day average of −0.199%): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 34 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid CHIP | 0.04587 | 0.0100 | pay 0.0013% / 1h | 47m 09s | $14.7M | $6.6M | 3x |
| Short | Phoenix CHIP | 0.04583 | −0.0173 | pay 0.0022% / 1h | 47m 09s | $3K | $143K | 5x |
Hyperliquid CHIP
Phoenix CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$57.29
- Price spread: −0.083% → −0.199%
- $11.6
- Slippage, 4 orders
- −$70.49
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$132.18
- Costs to cover
- 0.865%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 6 min ago; Phoenix: live order book, 35 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, 6 min ago | 0.98 bp | 21.8 bp −$22 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 35 min ago | 4.28 bp | 26.1 bp −$26 | 71.0 bp −$710 | 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_PERP | −0.2119% | 1h | 0.04578 | −0.192% | $16K | $234K | 5x | as long as short |
| ApeX Omni CHIPUSDT | −0.1045% | 1h | 0.04582 | −0.105% | $14K | $248K | 50x | as long as short |
| Bybit CHIPUSDT | −0.0430% | 4h | 0.04586 | −0.017% | $10.7M | $8.9M | 20x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0382% | 1h | 0.04586 | −0.024% | $10K | $24K | 10x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0180% | 4h | 0.04579 | −0.170% | $1.9M | $9.1M | 20x | as long as short |
| Nado CHIP-PERP | −0.0179% | 1h | 0.04576 | −0.235% | $229K | $18K | 5x | as long as short |
| Phoenix CHIPshort | −0.0173% | 1h | 0.04583 | −0.083% | $3K | $143K | 5x | |
| BloFin CHIP-USDT | −0.0142% | 4h | 0.04576 | −0.235% | $548K | $66K | 50x | as long as short |
| Extended CHIP-USD | −0.0088% | 1h | 0.04583 | −0.091% | $209K | $1.3M | 5x | as long as short |
| Binance CHIPUSDT | −0.0085% | 4h | 0.04576 | −0.226% | $13.8M | $25.6M | 50x | as long as short |
Backpack CHIP_USDC_PERP
ApeX Omni CHIPUSDT
Bybit CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
OKX CHIP-USDT-SWAP
Nado CHIP-PERP
BloFin CHIP-USDT
Extended CHIP-USD
Binance CHIPUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC CHIP_USDT | −0.0084% | 4h | 0.04577 | −0.214% | $1.8M | $1.2M | 50x | as long as short |
| Aster CHIPUSDT | −0.0073% | 4h | 0.04581 | −0.119% | $41K | $226K | 5x | as long as short |
| Aftermath Perps CHIPUSD | +0.0059% | 1h | 0.04595 | +0.182% | $85 | $39K | 5x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04583 | −0.083% | $85K | $110K | 3x | as long as short |
| Hyperliquid CHIPlong | +0.0100% | 1h | 0.04587 | long leg | $14.7M | $6.6M | 3x | |
| Pacifica CHIP | +0.0100% | 1h | 0.04580 | −0.148% | $13K | $628 | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04582 | −0.105% | $688K | $898K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04581 | −0.126% | $988K | $1.0M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04584 | −0.061% | $1.9M | $3.0M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04579 | −0.170% | — | $1.9M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04585 | −0.039% | $836K | $463K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04572 | −0.323% | $619 | $1.0M | 10x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0816% | 1h | 0.04757 | +3.700% | $46K | $41K | 50x | as long as short |
MEXC CHIP_USDT
Aster CHIPUSDT
Aftermath Perps CHIPUSD
Lighter CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Coinbase International CHIP-PERP-INTX