Funding arb · Price arb /

CHIP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0412%/8h= −45.1% APRpaid last 24h +0.044%

Price spread now: Deribit against SunX+0.278%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.278% dearer against SunX than usual: you sell high and buy low (spread +0.278% now, against zero (this spread has no 7-day history yet)): +$28 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX CHIP-USDT	0.04786	0.0100	pay 0.0050% / 4h	3h 54m	$629	$1.0M	10x
Short	Deribit CHIP_USDC-PERPETUAL	0.04799	−0.0312	pay 0.0039% / 1h	54m 51s	$10K	$23K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now +0.278%Rate

Funding earned: −$86.58
Price spread: +0.278% → 0.000%: $27.79
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$73.79
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: SunX: live order book, 8 min ago; Deribit: 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 SunX live order book, 8 min ago	47.06 bp	134.8 bp −$135	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Gate CHIP_USDT	−0.0532%	4h	0.04823	+0.773%	$720K	$1.0M	50x	as long as short
Phoenix CHIP	−0.0335%	1h	0.04814	+0.585%	$3K	$122K	5x	as long as short
Bybit CHIPUSDT	−0.0335%	4h	0.04822	+0.752%	$11.0M	$9.0M	20x	as long as short
Deribit CHIP_USDC-PERPETUALshort	−0.0312%	1h	0.04799	+0.278%	$10K	$23K	10x
ApeX Omni CHIPUSDT	−0.0212%	1h	0.04790	+0.084%	$17K	$247K	50x	as long as short
OKX CHIP-USDT-SWAP	−0.0058%	4h	0.04818	+0.669%	$2.2M	$9.6M	20x	as long as short
KuCoin CHIPUSDTM	−0.0046%	4h	0.04822	+0.752%	$1.0M	$1.1M	50x	as long as short
Aftermath Perps CHIPUSD	0.0000%	1h	0.04801	+0.315%	$235	$35K	5x	as long as short
Lighter CHIP	+0.0096%	1h	0.04798	+0.251%	$100K	$106K	3x	as long as short
Hyperliquid CHIP	+0.0100%	1h	0.04831	+0.932%	$14.9M	$5.9M	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CHIPUSDT	+0.0100%	4h	0.04827	+0.855%	$49K	$274K	5x	as long as short
Pacifica CHIP	+0.0100%	1h	0.04791	+0.096%	$16K	$4K	3x	as long as short
Binance CHIPUSDT	+0.0100%	4h	0.04826	+0.836%	$14.5M	$26.8M	50x	as long as short
MEXC CHIP_USDT	+0.0100%	4h	0.04826	+0.836%	$1.9M	$1.0M	50x	as long as short
Bitget CHIPUSDT	+0.0100%	4h	0.04828	+0.878%	$2.0M	$3.4M	50x	as long as short
BingX CHIP-USDT	+0.0100%	4h	0.04828	+0.878%	—	$1.9M	—	as long as short
Variational Omni CHIP	+0.0100%	4h	0.04801	+0.318%	$927K	$472K	—	as long as short
SunX CHIP-USDTlong	+0.0100%	4h	0.04786	long leg	$629	$1.0M	10x
Extended CHIP-USD	+0.0104%	1h	0.04820	+0.703%	$219K	$1.8M	5x	as long as short
BloFin CHIP-USDT	+0.0122%	4h	0.04823	+0.773%	$530K	$117K	50x	as long as short
Nado CHIP-PERP	+0.0296%	1h	0.04801	+0.313%	$243K	$18K	5x	as long as short
Backpack CHIP_USDC_PERP	+0.0539%	1h	0.04816	+0.627%	$26K	$211K	5x	as long as short
Coinbase International CHIP-PERP-INTX	+0.0896%	1h	0.04835	+1.015%	$46K	$37K	50x	as long as short