Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.2066%/8h= −226.2% APRpaid last 24h −0.014%

Price spread now: Pacifica against Bitget+0.215%52s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

The price spread pays, funding is against you. Pacifica is 0.215% dearer against Bitget than usual: you sell high and buy low (spread +0.215% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$62 a day in funding at the current rate, which eats that in about 8 hours. The two prices were read 52 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	Bitget PIPPINUSDT	0.01911	0.2166	pay 0.1083% / 4h	2h 09m	$1.6M	$329K	10x
Short	Pacifica PIPPIN	0.01915	0.0100	get 0.0013% / 1h	9m 46s	$18K	$9K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.215%Rate

Funding earned: −$433.86
Price spread: +0.215% → 0.000%: $21.45
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$432.41
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Bitget: live order book, 2 min ago; Pacifica: no order-book sample. Net counts fees only.

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, 2 min ago	5.22 bp	28.7 bp −$29	270.4 bp −$2,704	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.0096%	4h	0.01915	+0.214%	$111K	$33K	5x	as long as short
Pacifica PIPPINshort	+0.0100%	1h	0.01915	+0.215%	$18K	$9K	3x
Binance PIPPINUSDT	+0.0100%	4h	0.01911	+0.003%	$5.4M	$4.8M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01911	0.000%	$1.6M	$3.3M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01911	0.000%	$2.5M	$745K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01907	−0.209%	$871	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01898	−0.680%	$34K	$15K	20x	as long as short
Gate PIPPIN_USDT	+0.0118%	4h	0.01912	+0.052%	$1.8M	$307K	20x	as long as short
Bybit PIPPINUSDT	+0.0131%	4h	0.01913	+0.105%	$3.7M	$1.4M	13x	as long as short
KuCoin PIPPINUSDTM	+0.1706%	4h	0.01912	+0.052%	$2.1M	$4.6M	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-USDT	+0.2078%	4h	0.01910	−0.052%	—	$1.3M	—	as long as short
Bitget PIPPINUSDTlong	+0.2166%	4h	0.01911	long leg	$1.6M	$329K	10x