CHIP

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0415%/8h= −45.5% APRnext payment −$0.52 per $10,000 · paid last 24h +0.012%

Price spread now: ApeX Omni against Phoenix+0.022%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$850.849% of the position

Long on Phoenix Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now +0.022%, 7d avg +0.011%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.117%, 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 0.117% in total (about 6.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.52 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	Phoenix CHIP	0.04600	−0.0173	get 0.0022% / 1h	12m 03s	$3K	$143K	5x
Short	ApeX Omni CHIPUSDT	0.04601	−0.0588	pay 0.0074% / 1h	12m 03s	$14K	$248K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phoenix. 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 PhoenixbpFee ApeX OmnibpOrdersPrice spread, now +0.022%Rate

Funding earned: −$87.2
Price spread: +0.022% → +0.011%: $1.11
Slippage, 4 orders: −$67.86
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$170.95
Costs to cover: 0.849%
Break-even: never at this rate

Slippage from Phoenix: live order book, 4 min ago; ApeX Omni: live order book, 9 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 Phoenix live order book, 4 min ago	4.35 bp	26.5 bp −$26	78.7 bp −$787	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 9 min ago	6.52 bp	17.8 bp −$18	127.8 bp −$1,278	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
Deribit CHIP_USDC-PERPETUAL	−0.0904%	1h	0.04586	−0.302%	$10K	$24K	10x	as long as short
ApeX Omni CHIPUSDTshort	−0.0588%	1h	0.04601	+0.022%	$14K	$248K	50x
Backpack CHIP_USDC_PERP	−0.0584%	1h	0.04583	−0.370%	$16K	$234K	5x	as long as short
Bybit CHIPUSDT	−0.0343%	4h	0.04587	−0.283%	$10.7M	$8.9M	20x	as long as short
OKX CHIP-USDT-SWAP	−0.0247%	4h	0.04585	−0.326%	$1.9M	$9.1M	20x	as long as short
Nado CHIP-PERP	−0.0176%	1h	0.04584	−0.359%	$229K	$18K	5x	as long as short
Phoenix CHIPlong	−0.0173%	1h	0.04600	long leg	$3K	$143K	5x
BloFin CHIP-USDT	−0.0146%	4h	0.04588	−0.261%	$492K	$66K	50x	as long as short
Extended CHIP-USD	−0.0112%	1h	0.04583	−0.368%	$209K	$1.3M	5x	as long as short
Binance CHIPUSDT	−0.0109%	4h	0.04580	−0.428%	$13.8M	$25.7M	50x	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	−0.0108%	4h	0.04581	−0.413%	$1.8M	$1.2M	50x	as long as short
Aftermath Perps CHIPUSD	−0.0091%	1h	0.04602	+0.038%	$85	$39K	5x	as long as short
Aster CHIPUSDT	−0.0004%	4h	0.04588	−0.261%	$44K	$226K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04584	−0.348%	$85K	$110K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04591	−0.189%	$14.7M	$6.5M	3x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04590	−0.217%	$13K	$628	3x	as long as short
Gate CHIP_USDT	+0.0100%	4h	0.04593	−0.152%	$681K	$903K	50x	as long as short
KuCoin CHIPUSDTM	+0.0100%	4h	0.04594	−0.130%	$982K	$1.0M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04585	−0.326%	$2.0M	$3.0M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04583	−0.370%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04601	+0.028%	$839K	$462K	—	as long as short
SunX CHIP-USDT	+0.0100%	4h	0.04585	−0.326%	$903	$1.0M	10x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0816%	1h	0.04757	+3.402%	$46K	$41K	50x	as long as short