Funding you earn now, next payment 05:00 UTC−0.0193%/8h= −21.1% APRpaid last 24h −0.140%
Price spread now: Backpack against MEXC−0.042%7-day average +0.025% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$640.638% of the position
Funding, last 7 days+0.250%+$25 on $10k
+Price spread, last 4 days (all we have)+0.065%+$7 · spread now −0.042%, 7d avg +0.025%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Backpack is 0.067% cheaper against MEXC than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.025%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.250%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC CHIP_USDT | 0.04707 | 0.0092 | pay 0.0046% / 4h | 3h 57m | $1.8M | $1.2M | 50x |
| Short | Backpack CHIP_USDC_PERP | 0.04705 | −0.0101 | pay 0.0013% / 1h | 57m 01s | $34K | $251K | 5x |
MEXC CHIP_USDT
Backpack CHIP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against MEXC. 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
- −$40.48
- Price spread: −0.042% → +0.025%
- −$6.74
- Slippage, 4 orders
- −$53.76
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$110.97
- Costs to cover
- 0.638%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 5 min ago; Backpack: live order book, 61 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 MEXC live order book, 5 min ago | 1.05 bp | 17.8 bp −$18 | 70.4 bp −$704 | 276.1 bp −$27.6K | 707.8 bp −$353.9K |
| Sell Backpack live order book, 61 min ago | 2.13 bp | 13.8 bp −$14 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix CHIP | −0.0510% | 1h | 0.04729 | +0.467% | $3K | $137K | 5x | as long as short |
| OKX CHIP-USDT-SWAP | −0.0313% | 4h | 0.04702 | −0.106% | $2.0M | $9.7M | 20x | as long as short |
| Gate CHIP_USDT | −0.0312% | 4h | 0.04710 | +0.064% | $682K | $978K | 50x | as long as short |
| ApeX Omni CHIPUSDT | −0.0310% | 1h | 0.04727 | +0.425% | $16K | $244K | 50x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | −0.0111% | 1h | 0.04708 | +0.021% | $10K | $24K | 10x | as long as short |
| Backpack CHIP_USDC_PERPshort | −0.0101% | 1h | 0.04705 | −0.042% | $34K | $251K | 5x | |
| Nado CHIP-PERP | −0.0041% | 1h | 0.04709 | +0.053% | $238K | $20K | 5x | as long as short |
| Aster CHIPUSDT | +0.0001% | 4h | 0.04711 | +0.080% | $56K | $279K | 5x | as long as short |
| BloFin CHIP-USDT | +0.0071% | 4h | 0.04704 | −0.064% | $563K | $65K | 50x | as long as short |
| MEXC CHIP_USDTlong | +0.0092% | 4h | 0.04707 | long leg | $1.8M | $1.2M | 50x |
Phoenix CHIP
OKX CHIP-USDT-SWAP
Gate CHIP_USDT
ApeX Omni CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
Nado CHIP-PERP
Aster CHIPUSDT
BloFin CHIP-USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDT | +0.0093% | 4h | 0.04701 | −0.127% | $14.2M | $27.0M | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04705 | −0.042% | $96K | $114K | 3x | as long as short |
| Extended CHIP-USD | +0.0096% | 1h | 0.04705 | −0.038% | $214K | $1.9M | 5x | as long as short |
| Hyperliquid CHIP | +0.0100% | 1h | 0.04708 | +0.013% | $14.6M | $6.2M | 3x | as long as short |
| Pacifica CHIP | +0.0100% | 1h | 0.04720 | +0.276% | $16K | $3K | 3x | as long as short |
| Bybit CHIPUSDT | +0.0100% | 4h | 0.04703 | −0.085% | $10.8M | $9.1M | 20x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04710 | +0.064% | $974K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04705 | −0.042% | $2.0M | $3.4M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04699 | −0.170% | — | $2.0M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04751 | +0.938% | $844K | $527K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04703 | −0.085% | $800 | $1.0M | 10x | as long as short |
| Aftermath Perps CHIPUSD | +0.0133% | 1h | 0.04737 | +0.639% | $100 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0744% | 1h | 0.04765 | +1.232% | $46K | $41K | 50x | as long as short |
Binance CHIPUSDT
Lighter CHIP
Extended CHIP-USD
Hyperliquid CHIP
Pacifica CHIP
Bybit CHIPUSDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX