Funding you earn now, next payment 21:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h +0.072%
Price spread now: OKX against Phoenix−0.261%96s7-day average +0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$970.966% of the position
Funding, last 7 days+0.454%+$45 on $10k
+Price spread, last 3 days (all we have)+0.275%+$28 · spread now −0.261%, 7d avg +0.002%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.263% cheaper against Phoenix than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of +0.002%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.454%, so the current rate has only just turned against you. The two prices were read 96 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 | Phoenix CHIP | 0.04600 | −0.0173 | get 0.0022% / 1h | 11m 48s | $3K | $143K | 5x |
| Short | OKX CHIP-USDT-SWAP | 0.04588 | −0.0247 | pay 0.0124% / 4h | 2h 11m | $1.9M | $9.1M | 20x |
Phoenix CHIP
OKX CHIP-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$15.63
- Price spread: −0.261% → +0.002%
- −$26.33
- Slippage, 4 orders
- −$79.56
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$138.52
- Costs to cover
- 0.966%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 4 min ago; OKX: live order book, 1 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 OKX live order book, 1 min ago | 1.09 bp | 32.1 bp −$32 | 299.0 bp −$2,990 | 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 CHIPUSDT | −0.0588% | 1h | 0.04601 | +0.022% | $14K | $248K | 50x | as long as short |
| Backpack CHIP_USDC_PERP | −0.0584% | 1h | 0.04583 | −0.370% | $16K | $234K | 5x | as long as short |
| Bybit CHIPUSDT | −0.0343% | 4h | 0.04592 | −0.174% | $10.7M | $8.9M | 20x | as long as short |
| OKX CHIP-USDT-SWAPshort | −0.0247% | 4h | 0.04588 | −0.261% | $1.9M | $9.1M | 20x | |
| 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 | 0.04583 | −0.370% | $13.8M | $25.7M | 50x | as long as short |
Deribit CHIP_USDC-PERPETUAL
ApeX Omni CHIPUSDT
Backpack CHIP_USDC_PERP
Bybit CHIPUSDT
Nado CHIP-PERP
BloFin CHIP-USDT
Extended CHIP-USD
Binance CHIPUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC CHIP_USDT | −0.0108% | 4h | 0.04580 | −0.435% | $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 | −0.263% | $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 | 0.04593 | −0.152% | $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 | 0.04590 | −0.217% | $680K | $903K | 50x | as long as short |
| KuCoin CHIPUSDTM | +0.0100% | 4h | 0.04590 | −0.217% | $981K | $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 | 0.04587 | −0.283% | — | $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 |
MEXC CHIP_USDT
Aftermath Perps CHIPUSD
Aster CHIPUSDT
Lighter CHIP
Hyperliquid CHIP
Pacifica CHIP
Gate CHIP_USDT
KuCoin CHIPUSDTM
Bitget CHIPUSDT
BingX CHIP-USDT
Variational Omni CHIP
SunX CHIP-USDT
Coinbase International CHIP-PERP-INTX