PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0500%/8h= −54.8% APRnext payment −$2.50 per $10,000 · paid last 24h −0.019%

Price spread now: OKX against Bitget−0.052%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1061.056% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 7 days−0.016%−$2 · spread now −0.052%, 7d avg +0.048%

Together, before fees−0.081%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and OKX is 0.100% cheaper against Bitget than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.065% in total (about -3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.50 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	0.01908	0.0798	pay 0.0399% / 4h	3h 10m	$1.6M	$305K	10x
Short	OKX PIPPIN-USDT-SWAP	0.01907	0.0298	get 0.0149% / 4h	3h 10m	$1.5M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$105.05
Price spread: −0.052% → +0.048%: −$10.05
Slippage, 4 orders: −$83.58
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$220.68
Costs to cover: 1.056%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; OKX: live order book, 1 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	5.24 bp	28.7 bp −$29	350.2 bp −$3,502	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	2.62 bp	17.1 bp −$17	129.7 bp −$1,297	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	0.01907	−0.064%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01908	−0.026%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01908	−0.009%	$5.4M	$5.0M	25x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01907	−0.052%	$2.5M	$714K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01910	+0.105%	$1K	$10.2M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01887	−1.101%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0120%	4h	0.01909	+0.052%	$254K	$27K	25x	as long as short
OKX PIPPIN-USDT-SWAPshort	+0.0298%	4h	0.01907	−0.052%	$1.5M	$3.3M	20x
Gate PIPPIN_USDT	+0.0324%	4h	0.01907	−0.052%	$1.8M	$317K	20x	as long as short
Bybit PIPPINUSDT	+0.0658%	4h	0.01908	0.000%	$3.6M	$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	+0.0756%	4h	0.01907	−0.052%	—	$1.3M	—	as long as short
Bitget PIPPINUSDTlong	+0.0798%	4h	0.01908	long leg	$1.6M	$305K	10x
KuCoin PIPPINUSDTM	+0.1090%	4h	0.01908	0.000%	$2.1M	$5.5M	25x	as long as short