Funding you earn now, next payment 03:00 UTC+0.0610%/8h= +66.8% APRnext payment +$0.76 per $10,000 · paid last 24h +0.101%
Price spread now: Hyperliquid against Phoenix+0.101%7-day average +0.198% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$103as in the Price arb table
costs, in and out, $10k−$930.932% of the position
Funding, last 7 days+0.671%+$67 on $10k
+Price spread, last 4 days (all we have)+0.105%+$11 · spread now +0.101%, 7d avg +0.198%
=Together, before fees+0.776%+ Points / potential airdropHyperliquid: Season 2 · farm board+$78 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.097% cheaper against Phoenix than usual: you would sell low and buy high (spread +0.101% now, against its 7-day average of +0.198%). If the spread goes back, that is −$10 on $10k: about 13 hours of funding at the current rate (+$18 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix CHIP | 0.04746 | −0.0510 | get 0.0064% / 1h | 3m 07s | $3K | $129K | 5x |
| Short | Hyperliquid CHIP | 0.04751 | 0.0100 | get 0.0013% / 1h | 3m 07s | $14.7M | $6.2M | 3x |
Phoenix CHIP
Hyperliquid CHIPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Phoenix. 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
- $128.05
- Price spread: +0.101% → +0.198%
- −$9.67
- Slippage, 4 orders
- −$77.23
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $25.15
- Costs to cover
- 0.932%
- Break-even
- 5.6 days
Slippage from Phoenix: live order book, 47 min ago; Hyperliquid: live order book, 10 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, 47 min ago | 4.29 bp | 26.2 bp −$26 | 79.1 bp −$791 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 10 min ago | 1.26 bp | 24.5 bp −$24 | 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 CHIPlong | −0.0510% | 1h | 0.04746 | long leg | $3K | $129K | 5x | |
| OKX CHIP-USDT-SWAP | −0.0317% | 4h | 0.04743 | −0.063% | $2.0M | $9.8M | 20x | as long as short |
| ApeX Omni CHIPUSDT | −0.0289% | 1h | 0.04727 | −0.400% | $16K | $244K | 50x | as long as short |
| Backpack CHIP_USDC_PERP | −0.0276% | 1h | 0.04749 | +0.063% | $34K | $251K | 5x | as long as short |
| Bybit CHIPUSDT | −0.0248% | 4h | 0.04745 | −0.021% | $10.9M | $9.1M | 20x | as long as short |
| Nado CHIP-PERP | −0.0118% | 1h | 0.04745 | −0.021% | $240K | $20K | 5x | as long as short |
| Aster CHIPUSDT | −0.0014% | 4h | 0.04744 | −0.049% | $56K | $279K | 5x | as long as short |
| Deribit CHIP_USDC-PERPETUAL | 0.0000% | 1h | 0.04748 | +0.036% | $10K | $24K | 10x | as long as short |
| Extended CHIP-USD | +0.0080% | 1h | 0.04741 | −0.102% | $215K | $1.9M | 5x | as long as short |
| MEXC CHIP_USDT | +0.0080% | 4h | 0.04744 | −0.042% | $1.8M | $1.2M | 50x | as long as short |
OKX CHIP-USDT-SWAP
ApeX Omni CHIPUSDT
Backpack CHIP_USDC_PERP
Bybit CHIPUSDT
Nado CHIP-PERP
Aster CHIPUSDT
Deribit CHIP_USDC-PERPETUAL
Extended CHIP-USD
MEXC CHIP_USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CHIPUSDT | +0.0082% | 4h | 0.04742 | −0.084% | $14.3M | $27.0M | 50x | as long as short |
| Lighter CHIP | +0.0096% | 1h | 0.04744 | −0.042% | $97K | $117K | 3x | as long as short |
| Hyperliquid CHIPshort | +0.0100% | 1h | 0.04751 | +0.101% | $14.7M | $6.2M | 3x | |
| Pacifica CHIP | +0.0100% | 1h | 0.04749 | +0.055% | $16K | $3K | 3x | as long as short |
| Gate CHIP_USDT | +0.0100% | 4h | 0.04746 | 0.000% | $687K | $992K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04747 | +0.021% | $986K | $1.1M | 50x | as long as short |
| Bitget CHIPUSDT | +0.0100% | 4h | 0.04746 | 0.000% | $2.0M | $3.4M | 50x | as long as short |
| BingX CHIP-USDT | +0.0100% | 4h | 0.04743 | −0.063% | — | $2.0M | — | as long as short |
| Variational Omni CHIP | +0.0100% | 4h | 0.04723 | −0.491% | $839K | $527K | — | as long as short |
| SunX CHIP-USDT | +0.0100% | 4h | 0.04743 | −0.063% | $975 | $1.0M | 10x | as long as short |
| BloFin CHIP-USDT | +0.0119% | 4h | 0.04740 | −0.126% | $567K | $65K | 50x | as long as short |
| Aftermath Perps CHIPUSD | +0.0129% | 1h | 0.04744 | −0.037% | $100 | $38K | 5x | as long as short |
| Coinbase International CHIP-PERP-INTX | +0.0736% | 1h | 0.04759 | +0.270% | $46K | $41K | 50x | as long as short |
Binance CHIPUSDT
Lighter CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
BloFin CHIP-USDT
Aftermath Perps CHIPUSD
Coinbase International CHIP-PERP-INTX