Funding arb · Price arb /

CHIP

all CHIP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0828%/8h= +90.7% APRpaid last 24h +0.250%

Price spread now: Coinbase International against MEXC+0.606%51s7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Coinbase International is 0.606% dearer against MEXC than usual: you sell high and buy low: +$61 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC CHIP_USDT	0.04619	0.0100	pay 0.0050% / 4h	3h 34m	$1.8M	$1.2M	50x
Short	Coinbase International CHIP-PERP-INTX	0.04647	0.0928	get 0.0116% / 1h	34m 26s	$45K	$40K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.606%Rate

Funding earned: $173.88
Price spread: +0.606% → 0.000%: $60.62
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $224.5
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: MEXC: live order book, 2 min ago; Coinbase International: 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 MEXC live order book, 2 min ago	2.17 bp	12.4 bp −$12	53.3 bp −$533	245.0 bp −$24.5K	766.3 bp −$383.2K
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.1166%	1h	0.04617	−0.043%	$14K	$233K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0518%	1h	0.04624	+0.108%	$14K	$248K	50x	as long as short
Nado CHIP-PERP	−0.0180%	1h	0.04618	−0.011%	$231K	$18K	5x	as long as short
Phoenix CHIP	−0.0172%	1h	0.04618	−0.022%	$3K	$140K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0051%	4h	0.04622	+0.065%	$1.9M	$9.0M	20x	as long as short
Deribit CHIP_USDC-PERPETUAL	0.0000%	1h	0.04622	+0.069%	$10K	$24K	10x	as long as short
BloFin CHIP-USDT	+0.0085%	4h	0.04617	−0.043%	$547K	$65K	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04622	+0.065%	$86K	$108K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04630	+0.249%	$14.5M	$6.6M	3x	as long as short
Aster CHIPUSDT	+0.0100%	4h	0.04619	−0.010%	$47K	$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	+0.022%	$13K	$628	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04618	−0.022%	$13.9M	$26.0M	50x	as long as short
Bybit CHIPUSDT	+0.0100%	4h	0.04624	+0.108%	$10.8M	$8.7M	20x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04620	+0.022%	$682K	$907K	50x	as long as short
MEXC CHIP_USDTlong	+0.0100%	4h	0.04619	long leg	$1.8M	$1.2M	50x
KuCoin CHIPUSDTM	+0.0100%	4h	0.04624	+0.108%	$973K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04621	+0.043%	$1.9M	$3.2M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04619	0.000%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04618	−0.026%	$866K	$469K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04607	−0.260%	$602	$1.1M	10x	as long as short
Extended CHIP-USD	+0.0104%	1h	0.04617	−0.042%	$210K	$2.0M	5x	as long as short
Aftermath Perps CHIPUSD	+0.0358%	1h	0.04619	−0.001%	$85	$38K	5x	as long as short
Coinbase International CHIP-PERP-INTXshort	+0.0928%	1h	0.04647	+0.606%	$45K	$40K	50x