PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1742%/8h= −190.7% APRnext payment −$8.71 per $10,000 · paid last 24h −0.033%

Price spread now: Gate against BingX−0.105%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$839as in the Funding arb table

Net, price: spread back to 7d avg − costs−$764as in the Price arb table

costs, in and out, $10k−$7617.610% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.783%−$78 on $10k

Price spread, last 7 days+0.066%+$7 · spread now −0.105%, 7d avg −0.074%

Together, before fees−0.717%−$72 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$52 a day on $10k at the current rate, and Gate is 0.031% cheaper against BingX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.074%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.783% in total (about -40.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$8.71 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	BingX PIPPIN-USDT	0.01912	0.2020	pay 0.1010% / 4h	2h 32m	—	$1.3M	—
Short	Gate PIPPIN_USDT	0.01910	0.0278	get 0.0139% / 4h	2h 32m	$1.8M	$304K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now −0.105%Rate

Funding earned: −$365.82
Price spread: −0.105% → −0.074%: −$3.06
Slippage, 4 orders: −$736.02
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,129.9
Costs to cover: 7.610%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Gate: 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 BingX live order book, 4 min ago	2.62 bp	63.6 bp −$64	176.5 bp −$1,765	746.1 bp −$74.6K	doesn't fit
Sell Gate live order book, 5 min ago	5.22 bp	517.8 bp −$518	doesn't fit	doesn't fit	doesn't fit

PIPPIN on 12 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	0.01910	−0.094%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01910	−0.099%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01913	+0.036%	$5.4M	$4.8M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01915	+0.157%	$1.6M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01911	−0.052%	$2.5M	$743K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01916	+0.209%	$2K	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01902	−0.523%	$34K	$15K	20x	as long as short
Bybit PIPPINUSDT	+0.0248%	4h	0.01915	+0.157%	$3.7M	$1.4M	13x	as long as short
Gate PIPPIN_USDTshort	+0.0278%	4h	0.01910	−0.105%	$1.8M	$304K	20x
KuCoin PIPPINUSDTM	+0.1636%	4h	0.01912	0.000%	$2.1M	$4.5M	25x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDTlong	+0.2020%	4h	0.01912	long leg	—	$1.3M	—
Bitget PIPPINUSDT	+0.2130%	4h	0.01915	+0.157%	$1.6M	$328K	10x	as long as short