PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0027%/8h= +2.9% APRnext payment +$0.13 per $10,000 · paid last 24h −0.012%

Price spread now: Bybit against BloFin+0.158%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$990.990% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

Price spread, last 4 days (all we have)−0.212%−$21 · spread now +0.158%, 7d avg +0.073%

Together, before fees−0.350%−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bybit is 0.085% dearer against BloFin than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.073%. Mind the row above: over the last 7 days funding on this pair cost −0.137%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PIPPIN-USDT	0.01902	0.0073	pay 0.0037% / 4h	3h 58m	$253K	$22K	25x
Short	Bybit PIPPINUSDT	0.01905	0.0100	get 0.0050% / 4h	3h 58m	$3.6M	$1.4M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now +0.158%Rate

Funding earned: $5.66
Price spread: +0.158% → +0.073%: $8.5
Slippage, 4 orders: −$76.04
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$84.88
Costs to cover: 0.990%
Break-even: 112.1 days

Slippage from BloFin: live order book, 33 min ago; Bybit: 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 BloFin live order book, 33 min ago	7.90 bp	19.5 bp −$19	94.5 bp −$945	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.63 bp	30.7 bp −$31	217.0 bp −$2,170	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
BloFin PIPPIN-USDTlong	+0.0073%	4h	0.01902	long leg	$253K	$22K	25x
Aster PIPPINUSDT	+0.0100%	4h	0.01903	+0.060%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01903	+0.058%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01903	+0.063%	$5.4M	$4.9M	25x	as long as short
Bybit PIPPINUSDTshort	+0.0100%	4h	0.01905	+0.158%	$3.6M	$1.4M	13x
Gate PIPPIN_USDT	+0.0100%	4h	0.01903	+0.053%	$1.8M	$308K	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01903	+0.053%	$2.5M	$706K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01907	+0.263%	$851	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01891	−0.578%	$34K	$14K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0238%	4h	0.01903	+0.053%	$1.5M	$3.3M	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PIPPINUSDT	+0.0514%	4h	0.01905	+0.158%	$1.6M	$313K	10x	as long as short
BingX PIPPIN-USDT	+0.0534%	4h	0.01904	+0.105%	—	$1.3M	—	as long as short
KuCoin PIPPINUSDTM	+0.0740%	4h	0.01905	+0.158%	$2.1M	$5.2M	25x	as long as short