PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0331%/8h= +36.2% APRnext payment +$1.65 per $10,000 · paid last 24h −0.059%

Price spread now: Bybit against Binance+0.060%7-day average +0.146% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$830.830% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$18 on $10k

Price spread, last 7 days−0.002%$0 · spread now +0.060%, 7d avg +0.146%

Together, before fees−0.187%−$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.086% cheaper against Binance than usual: you would sell low and buy high (spread +0.060% now, against its 7-day average of +0.146%). If the spread goes back, that is −$9 on $10k: about 21 hours of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.185%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.185% in total (about -9.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.65 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PIPPINUSDT	0.01898	0.0100	pay 0.0050% / 4h	2h 37m	$5.3M	$4.5M	25x
Short	Bybit PIPPINUSDT	0.01899	0.0431	get 0.0215% / 4h	2h 37m	$3.6M	$1.3M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.060%Rate

Funding earned: $69.44
Price spread: +0.060% → +0.146%: −$8.6
Slippage, 4 orders: −$61.98
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.14
Costs to cover: 0.830%
Break-even: 9.2 days

Slippage from Binance: live order book, 15 min ago; Bybit: live order book, 5 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, 15 min ago	2.64 bp	24.0 bp −$24	252.7 bp −$2,527	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.63 bp	19.9 bp −$20	107.7 bp −$1,077	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	+0.0047%	4h	0.01897	−0.046%	$251K	$27K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01894	−0.180%	$110K	$32K	5x	as long as short
Binance PIPPINUSDTlong	+0.0100%	4h	0.01898	long leg	$5.3M	$4.5M	25x
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01899	+0.060%	$1.6M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01896	−0.098%	$2.5M	$762K	50x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01900	+0.112%	$1.6M	$349K	10x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01898	+0.007%	$2K	$9.6M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01888	−0.520%	$34K	$16K	20x	as long as short
Pacifica PIPPIN	+0.0134%	1h	0.01897	−0.046%	$18K	$9K	3x	as long as short
KuCoin PIPPINUSDTM	+0.0270%	4h	0.01898	+0.007%	$2.1M	$3.2M	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDT	+0.0284%	4h	0.01901	+0.165%	—	$1.3M	—	as long as short
Bybit PIPPINUSDTshort	+0.0431%	4h	0.01899	+0.060%	$3.6M	$1.3M	13x
Gate PIPPIN_USDT	+0.0592%	4h	0.01898	+0.007%	$1.8M	$304K	20x	as long as short