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 −0.010%

Price spread now: Bitget against Binance+0.218%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$950.946% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 7 days−0.151%−$15 · spread now +0.218%, 7d avg +0.051%

Together, before fees−0.032%−$3 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: Bitget is 0.167% dearer against Binance than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PIPPINUSDT	0.01895	0.0100	pay 0.0050% / 4h	2h 55m	$5.3M	$4.6M	25x
Short	Bitget PIPPINUSDT	0.01899	0.0100	get 0.0050% / 4h	2h 55m	$1.6M	$349K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.218%Rate

Funding earned: $0
Price spread: +0.218% → +0.051%: $16.73
Slippage, 4 orders: −$72.59
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$77.86
Costs to cover: 0.946%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Bitget: 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 Binance live order book, 12 min ago	5.26 bp	22.4 bp −$22	281.2 bp −$2,812	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	2.63 bp	26.5 bp −$26	226.3 bp −$2,263	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
Aster PIPPINUSDT	+0.0100%	4h	0.01895	0.000%	$110K	$32K	5x	as long as short
Binance PIPPINUSDTlong	+0.0100%	4h	0.01895	long leg	$5.3M	$4.6M	25x
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01898	+0.165%	$1.6M	$3.2M	20x	as long as short
Bitget PIPPINUSDTshort	+0.0100%	4h	0.01899	+0.218%	$1.6M	$349K	10x
SunX PIPPIN-USDT	+0.0100%	4h	0.01898	+0.165%	$913	$9.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01890	−0.257%	$34K	$16K	20x	as long as short
MEXC PIPPIN_USDT	+0.0118%	4h	0.01895	+0.007%	$2.5M	$757K	50x	as long as short
Bybit PIPPINUSDT	+0.0133%	4h	0.01899	+0.218%	$3.6M	$1.3M	13x	as long as short
Pacifica PIPPIN	+0.0134%	1h	0.01896	+0.060%	$18K	$9K	3x	as long as short
BloFin PIPPIN-USDT	+0.0146%	4h	0.01895	+0.007%	$216K	$24K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.0182%	4h	0.01899	+0.218%	$2.1M	$3.4M	25x	as long as short
BingX PIPPIN-USDT	+0.0246%	4h	0.01907	+0.640%	—	$1.3M	—	as long as short
Gate PIPPIN_USDT	+0.0520%	4h	0.01897	+0.112%	$1.8M	$304K	20x	as long as short