PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1497%/8h= −163.9% APRnext payment −$7.48 per $10,000 · paid last 24h −0.067%

Price spread now: OKX against BingX+0.052%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$890.891% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.530%−$53 on $10k

Price spread, last 7 days−0.091%−$9 · spread now +0.052%, 7d avg +0.004%

Together, before fees−0.621%−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.048% dearer against BingX than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of +0.004%): +$5 on $10k if it goes back. Holding the pair costs −$45 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.530% in total) that is about 15 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.530% in total (about -27.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$7.48 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	0.01917	0.1604	pay 0.0802% / 4h	3h 12m	—	$1.3M	—
Short	OKX PIPPIN-USDT-SWAP	0.01918	0.0107	get 0.0054% / 4h	3h 12m	$1.6M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$314.33
Price spread: +0.052% → +0.004%: $4.83
Slippage, 4 orders: −$69.14
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$398.64
Costs to cover: 0.891%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; OKX: live order book, 4 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	7.83 bp	19.8 bp −$20	183.9 bp −$1,839	710.6 bp −$71.1K	doesn't fit
Sell OKX live order book, 4 min ago	2.61 bp	19.9 bp −$20	123.3 bp −$1,233	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	0.01914	−0.182%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01915	−0.104%	$18K	$9K	3x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01918	+0.052%	$1K	$9.9M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01895	−1.148%	$34K	$15K	20x	as long as short
OKX PIPPIN-USDT-SWAPshort	+0.0107%	4h	0.01918	+0.052%	$1.6M	$3.2M	20x
MEXC PIPPIN_USDT	+0.0164%	4h	0.01916	−0.052%	$2.5M	$761K	50x	as long as short
BloFin PIPPIN-USDT	+0.0186%	4h	0.01919	+0.104%	$252K	$28K	25x	as long as short
Binance PIPPINUSDT	+0.0199%	4h	0.01917	0.000%	$5.4M	$4.7M	25x	as long as short
Bybit PIPPINUSDT	+0.0236%	4h	0.01919	+0.104%	$3.7M	$1.4M	13x	as long as short
Gate PIPPIN_USDT	+0.1142%	4h	0.01918	+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
BingX PIPPIN-USDTlong	+0.1604%	4h	0.01917	long leg	—	$1.3M	—
KuCoin PIPPINUSDTM	+0.1660%	4h	0.01918	+0.052%	$2.1M	$4.2M	25x	as long as short
Bitget PIPPINUSDT	+0.1882%	4h	0.01918	+0.052%	$1.6M	$327K	10x	as long as short