Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h −0.034%

Price spread now: Variational Omni against Nado−0.125%7-day average +0.049% · you buy dearer than you sell

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.174%−$17 on $10k

Price spread, last 4 days (all we have)+0.475%+$48 · spread now −0.125%, 7d avg +0.049%

Together, before fees+0.301%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.174% cheaper against Nado than usual: you would sell low and buy high (spread −0.125% now, against its 7-day average of +0.049%). If the spread goes back, that is −$17 on $10k: about 3.4 days of funding at the current rate (+$5 a day). Mind the row above: over the last 3 days funding on this pair cost −0.174%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CHIP-PERP	0.04677	−0.0072	get 0.0009% / 1h	43m 36s	$237K	$20K	5x
Short	Variational Omni CHIP	0.04672	0.0100	get 0.0050% / 4h	43m 36s	$831K	$529K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee Variational OmnibpOrdersPrice spread, now −0.125%Rate

Funding earned: $36.15
Price spread: −0.125% → +0.049%: −$17.44
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $11.71
Costs to cover: 0.070%
Break-even: 4.7 days

Slippage unknown: Nado: live order book, 14 min ago; Variational Omni: RFQ quote, 15 min ago. 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 Nado live order book, 14 min ago	5.11 bp	14.8 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 15 min ago	6.38 bp	doesn't fit	150.9 bp −$1,509	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	−0.0683%	1h	0.04691	+0.289%	$34K	$245K	5x	as long as short
ApeX Omni CHIPUSDT	−0.0639%	1h	0.04657	−0.438%	$16K	$246K	50x	as long as short
Bybit CHIPUSDT	−0.0561%	4h	0.04687	+0.203%	$10.8M	$9.0M	20x	as long as short
Phoenix CHIP	−0.0510%	1h	0.04664	−0.289%	$3K	$129K	5x	as long as short
OKX CHIP-USDT-SWAP	−0.0382%	4h	0.04684	+0.139%	$2.0M	$9.5M	20x	as long as short
Deribit CHIP_USDC-PERPETUAL	−0.0112%	1h	0.04688	+0.229%	$10K	$24K	10x	as long as short
Aster CHIPUSDT	−0.0106%	4h	0.04685	+0.150%	$50K	$276K	5x	as long as short
Nado CHIP-PERPlong	−0.0072%	1h	0.04677	long leg	$237K	$20K	5x
BloFin CHIP-USDT	+0.0015%	4h	0.04664	−0.289%	$568K	$63K	50x	as long as short
Extended CHIP-USD	+0.0072%	1h	0.04680	+0.059%	$213K	$1.9M	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC CHIP_USDT	+0.0072%	4h	0.04683	+0.118%	$1.8M	$1.2M	50x	as long as short
Binance CHIPUSDT	+0.0072%	4h	0.04683	+0.108%	$14.1M	$26.8M	50x	as long as short
Lighter CHIP	+0.0096%	1h	0.04683	+0.118%	$87K	$107K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04688	+0.227%	$14.6M	$6.3M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04683	+0.122%	$16K	$3K	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04681	+0.075%	$680K	$951K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04683	+0.118%	$979K	$1.1M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04677	−0.011%	$2.0M	$3.3M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04678	+0.011%	—	$1.9M	—	as long as short
Variational Omni CHIPshort	+0.0100%	4h	0.04672	−0.125%	$831K	$529K	—
SunX CHIP-USDT	+0.0100%	4h	0.04678	+0.011%	$584	$1.0M	10x	as long as short
Aftermath Perps CHIPUSD	+0.0320%	1h	0.04678	+0.013%	$132	$38K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0736%	1h	0.04855	+3.790%	$47K	$42K	50x	as long as short