Saw this called an 8-bit trill once. It's made with an arpeggio.

Since old machines had maybe four tracks or less (one per physical output the machine is capable of) chords had to be done by quickly cycling through each note of the chord. This creates a signature effect unique to chiptunes.

Surge

Set an LFO to sequencer mode.

Hold shift while dragging steps to set the chord (ex. +0, +3, +7.)

Modulate oscillator pitch upwards by up to 12 semitones with the sequencer.

Adjust sequencer rate to desired arpeggiation.

Vital

Set LFO X grid to number of notes in chord, Y grid to 12.

Turn on paint mode and set to step.

Paint desired chord (ex. +0, +3, +7.)

Modulate oscillator pitch upward by up to 12 semitones with the LFO.

Adjust sequencer rate to desired arpeggiation.