Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.060%

Price spread now: SunX against Binance+0.142%46s7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6,118as in the Funding arb table

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

costs, in and out, $10k−$6,07660.756% of the position

Long on Binance Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.425%−$43 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now +0.142%, 7d avg +0.074%

Together, before fees−0.468%−$47 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 0.068% dearer against Binance than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.074%. 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	Binance PIPPINUSDT	0.01908	0.0100	pay 0.0050% / 4h	2h 56m	$5.4M	$5.0M	25x
Short	SunX PIPPIN-USDT	0.01911	0.0100	get 0.0050% / 4h	2h 56m	$2K	$10.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.142%Rate

Funding earned: $0
Price spread: +0.142% → +0.074%: $6.82
Slippage, 4 orders: −$6,057.64
Fee Binance: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$6,068.82
Costs to cover: 60.756%
Break-even: never at this rate

Slippage from Binance: live order book, 11 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 Binance live order book, 11 min ago	2.63 bp	21.2 bp −$21	317.6 bp −$3,176	doesn't fit	doesn't fit
Sell SunX live order book, 13 min ago	500.79 bp	3030.2 bp −$3,030	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	+0.0067%	4h	0.01909	+0.038%	$255K	$26K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01908	0.000%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01908	−0.004%	$18K	$9K	3x	as long as short
Binance PIPPINUSDTlong	+0.0100%	4h	0.01908	long leg	$5.4M	$5.0M	25x
MEXC PIPPIN_USDT	+0.0100%	4h	0.01907	−0.067%	$2.5M	$706K	50x	as long as short
SunX PIPPIN-USDTshort	+0.0100%	4h	0.01911	+0.142%	$2K	$10.2M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01891	−0.906%	$34K	$14K	20x	as long as short
Gate PIPPIN_USDT	+0.0254%	4h	0.01909	+0.038%	$1.8M	$317K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0275%	4h	0.01908	−0.015%	$1.5M	$3.3M	20x	as long as short
Bitget PIPPINUSDT	+0.0748%	4h	0.01910	+0.090%	$1.6M	$310K	10x	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	+0.0870%	4h	0.01907	−0.067%	—	$1.3M	—	as long as short
Bybit PIPPINUSDT	+0.0965%	4h	0.01910	+0.090%	$3.6M	$1.4M	13x	as long as short
KuCoin PIPPINUSDTM	+0.1094%	4h	0.01909	+0.038%	$2.1M	$5.5M	25x	as long as short