Funding arb · Price arb /

PIPPIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Aster against Binance−0.262%7-day average −0.039% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$720.716% of the position

Long on Binance Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.215%+$22 · spread now −0.262%, 7d avg −0.039%

Together, before fees+0.207%+ Points / potential airdropAster: Stage 5 · farm board+$21 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: Aster is 0.223% cheaper against Binance than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PIPPINUSDT	0.01908	0.0100	pay 0.0050% / 4h	1h 17m	$5.4M	$4.8M	25x
Short	Aster PIPPINUSDT	0.01903	0.0100	get 0.0050% / 4h	1h 17m	$111K	$33K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Binance. 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 BinancebpFee AsterbpOrdersPrice spread, now −0.262%Rate

Funding earned: $0
Price spread: −0.262% → −0.039%: −$22.3
Slippage, 4 orders: −$53.61
Fee Binance: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$93.91
Costs to cover: 0.716%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; Aster: live order book, 43 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 Binance live order book, 5 min ago	2.62 bp	21.8 bp −$22	266.0 bp −$2,660	doesn't fit	doesn't fit
Sell Aster live order book, 43 min ago	5.24 bp	13.8 bp −$14	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
Pacifica PIPPIN	−0.0778%	1h	0.01908	0.000%	$18K	$9K	3x	as long as short
BloFin PIPPIN-USDT	+0.0091%	4h	0.01909	+0.052%	$252K	$25K	25x	as long as short
Aster PIPPINUSDTshort	+0.0100%	4h	0.01903	−0.262%	$111K	$33K	5x
Binance PIPPINUSDTlong	+0.0100%	4h	0.01908	long leg	$5.4M	$4.8M	25x
Bybit PIPPINUSDT	+0.0100%	4h	0.01911	+0.157%	$3.7M	$1.4M	13x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01908	0.000%	$2.4M	$728K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01906	−0.105%	$1K	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01886	−1.153%	$34K	$14K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0207%	4h	0.01909	+0.052%	$1.5M	$3.3M	20x	as long as short
Gate PIPPIN_USDT	+0.0348%	4h	0.01909	+0.052%	$1.8M	$303K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.1240%	4h	0.01910	+0.105%	$2.1M	$4.9M	25x	as long as short
BingX PIPPIN-USDT	+0.1462%	4h	0.01909	+0.052%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.1556%	4h	0.01910	+0.105%	$1.6M	$321K	10x	as long as short