PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0763%/8h= +83.6% APRnext payment +$3.82 per $10,000 · paid last 24h +0.152%

Price spread now: KuCoin against BloFin+0.105%65s7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1411.407% of the position

Long on BloFin Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.520%+$52 on $10k

Price spread, last 3 days (all we have)−0.160%−$16 · spread now +0.105%, 7d avg −0.011%

Together, before fees+0.360%+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and KuCoin is 0.117% dearer against BloFin than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.011%. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.520% in total (about 27.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.82 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	BloFin PIPPIN-USDT	0.01896	0.0079	pay 0.0039% / 4h	21m 57s	$250K	$27K	25x
Short	KuCoin PIPPINUSDTM	0.01898	0.0842	get 0.0421% / 4h	21m 57s	$2.1M	$3.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.105%Rate

Funding earned: $160.33
Price spread: +0.105% → −0.011%: $11.67
Slippage, 4 orders: −$116.65
Fee BloFin: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $31.36
Costs to cover: 1.407%
Break-even: 5.6 days

Slippage from BloFin: live order book, 49 min ago; KuCoin: live order book, 6 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, 49 min ago	2.64 bp	22.4 bp −$22	85.8 bp −$858	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	7.89 bp	49.3 bp −$49	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
BloFin PIPPIN-USDTlong	+0.0079%	4h	0.01896	long leg	$250K	$27K	25x
Aster PIPPINUSDT	+0.0100%	4h	0.01896	0.000%	$110K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01899	+0.164%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01899	+0.158%	$5.3M	$4.6M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01901	+0.264%	$1.5M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01898	+0.105%	$2.4M	$764K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01900	+0.211%	$1K	$9.8M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01891	−0.264%	$34K	$16K	20x	as long as short
Gate PIPPIN_USDT	+0.0388%	4h	0.01897	+0.053%	$1.8M	$305K	20x	as long as short
Bybit PIPPINUSDT	+0.0413%	4h	0.01899	+0.158%	$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	+0.0666%	4h	0.01900	+0.211%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.0700%	4h	0.01899	+0.158%	$1.6M	$334K	10x	as long as short
KuCoin PIPPINUSDTMshort	+0.0842%	4h	0.01898	+0.105%	$2.1M	$3.8M	25x