PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0434%/8h= −47.5% APRnext payment −$2.17 per $10,000 · paid last 24h +0.024%

Price spread now: Gate against Bitget−0.053%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$870as in the Funding arb table

Net, price: spread back to 7d avg − costs−$845as in the Price arb table

costs, in and out, $10k−$8438.427% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.273%−$27 on $10k

Price spread, last 7 days+0.024%+$2 · spread now −0.053%, 7d avg −0.029%

Together, before fees−0.249%−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Gate is 0.024% cheaper against Bitget than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.029%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.273% in total (about -14.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.17 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	Bitget PIPPINUSDT	0.01901	0.0766	pay 0.0383% / 4h	10m 37s	$1.6M	$331K	10x
Short	Gate PIPPIN_USDT	0.01900	0.0332	get 0.0166% / 4h	10m 37s	$1.8M	$305K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bitget. 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 BitgetbpFee GatebpOrdersPrice spread, now −0.053%Rate

Funding earned: −$91.14
Price spread: −0.053% → −0.029%: −$2.39
Slippage, 4 orders: −$815.65
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$936.18
Costs to cover: 8.427%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Gate: live order book, 2 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 Bitget live order book, 1 min ago	7.89 bp	27.0 bp −$27	302.5 bp −$3,025	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.63 bp	582.2 bp −$582	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
Aster PIPPINUSDT	+0.0100%	4h	0.01901	−0.004%	$111K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01902	+0.026%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01902	+0.053%	$5.4M	$4.6M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01902	+0.053%	$1.6M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01900	−0.053%	$2.4M	$765K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01901	0.000%	$878	$9.9M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01889	−0.631%	$34K	$16K	20x	as long as short
BloFin PIPPIN-USDT	+0.0155%	4h	0.01899	−0.105%	$250K	$28K	25x	as long as short
Gate PIPPIN_USDTshort	+0.0332%	4h	0.01900	−0.053%	$1.8M	$305K	20x
Bybit PIPPINUSDT	+0.0449%	4h	0.01901	0.000%	$3.7M	$1.4M	13x	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	+0.0702%	4h	0.01903	+0.105%	—	$1.3M	—	as long as short
Bitget PIPPINUSDTlong	+0.0766%	4h	0.01901	long leg	$1.6M	$331K	10x
KuCoin PIPPINUSDTM	+0.0922%	4h	0.01901	0.000%	$2.1M	$3.9M	25x	as long as short