Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.093%

Price spread now: SunX against Aster+0.331%46s7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1451.453% of the position

Long on Aster Short on SunX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.360%−$36 on $10k

Price spread, last 3 days (all we have)−0.156%−$16 · spread now +0.331%, 7d avg +0.111%

Together, before fees−0.516%+ Points / potential airdropAster: Stage 5 · farm board−$52 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.220% dearer against Aster than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.111%. The two prices were read 46 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	Aster PIPPINUSDT	0.01899	0.0100	pay 0.0050% / 4h	56m 35s	$110K	$34K	5x
Short	SunX PIPPIN-USDT	0.01905	0.0100	get 0.0050% / 4h	56m 35s	$1K	$9.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Aster. 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 AsterbpFee SunXbpOrdersPrice spread, now +0.331%Rate

Funding earned: $0
Price spread: +0.331% → +0.111%: $22.05
Slippage, 4 orders: −$129.26
Fee Aster: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$123.21
Costs to cover: 1.453%
Break-even: never at this rate

Slippage from Aster: live order book, 19 min ago; SunX: live order book, 13 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 Aster live order book, 19 min ago	5.28 bp	16.4 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 13 min ago	18.44 bp	64.8 bp −$65	doesn't fit	doesn't fit	doesn't fit

PIPPIN on 13 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
BloFin PIPPIN-USDT	+0.0042%	4h	0.01901	+0.120%	$250K	$27K	25x	as long as short
Aster PIPPINUSDTlong	+0.0100%	4h	0.01899	long leg	$110K	$34K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01905	+0.321%	$18K	$9K	3x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01904	+0.278%	$2.5M	$753K	50x	as long as short
SunX PIPPIN-USDTshort	+0.0100%	4h	0.01905	+0.331%	$1K	$9.8M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01884	−0.775%	$34K	$16K	20x	as long as short
Binance PIPPINUSDT	+0.0104%	4h	0.01905	+0.341%	$5.4M	$4.6M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0130%	4h	0.01907	+0.436%	$1.6M	$3.3M	20x	as long as short
Bitget PIPPINUSDT	+0.0224%	4h	0.01902	+0.173%	$1.6M	$334K	10x	as long as short
BingX PIPPIN-USDT	+0.0560%	4h	0.01904	+0.278%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PIPPIN_USDT	+0.0566%	4h	0.01903	+0.226%	$1.8M	$302K	20x	as long as short
Bybit PIPPINUSDT	+0.0644%	4h	0.01906	+0.384%	$3.7M	$1.4M	13x	as long as short
KuCoin PIPPINUSDTM	+0.0652%	4h	0.01905	+0.331%	$2.1M	$3.6M	25x	as long as short