Funding you earn now, next payment 12:00 UTC−0.0318%/8h= −34.9% APRnext payment −$1.59 per $10,000 · paid last 24h +0.010%
Price spread now: OKX against BloFin−0.052%53s7-day average +0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs−$74as 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−$890.889% of the position
Funding, last 7 days+0.148%+$15 on $10k
+Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.052%, 7d avg +0.042%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and OKX is 0.094% cheaper against BloFin than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.042%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.148%, so the current rate has only just turned against you. The two prices were read 53 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 0.148% in total (about 7.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.59 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 | 0.01912 | 0.0481 | pay 0.0241% / 4h | 3h 02m | $255K | $32K | 25x |
| Short | OKX PIPPIN-USDT-SWAP | 0.01911 | 0.0163 | get 0.0081% / 4h | 3h 02m | $1.5M | $3.4M | 20x |
BloFin PIPPIN-USDT
OKX PIPPIN-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against BloFin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$66.87
- Price spread: −0.052% → +0.042%
- −$9.39
- Slippage, 4 orders
- −$66.89
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$165.15
- Costs to cover
- 0.889%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 64 min ago; OKX: live order book, 5 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, 64 min ago | 2.62 bp | 22.0 bp −$22 | 86.8 bp −$868 | doesn't fit | doesn't fit |
| Sell OKX live order book, 5 min ago | 5.23 bp | 22.0 bp −$22 | 116.3 bp −$1,163 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Pacifica PIPPIN | +0.0100% | 1h | 0.01911 | −0.052% | $18K | $5K | 3x | as long as short |
| SunX PIPPIN-USDT | +0.0100% | 4h | 0.01914 | +0.105% | $1K | $10.2M | 20x | as long as short |
| HTX PIPPIN-USDT | +0.0100% | 4h | 0.01897 | −0.785% | $34K | $14K | 20x | as long as short |
| Bitget PIPPINUSDT | +0.0152% | 4h | 0.01914 | +0.105% | $1.6M | $332K | 10x | as long as short |
| OKX PIPPIN-USDT-SWAPshort | +0.0163% | 4h | 0.01911 | −0.052% | $1.5M | $3.4M | 20x | |
| Aster PIPPINUSDT | +0.0326% | 4h | 0.01909 | −0.157% | $111K | $35K | 5x | as long as short |
| KuCoin PIPPINUSDTM | +0.0480% | 4h | 0.01912 | 0.000% | $2.1M | $6.6M | 25x | as long as short |
| BloFin PIPPIN-USDTlong | +0.0481% | 4h | 0.01912 | long leg | $255K | $32K | 25x | |
| Bybit PIPPINUSDT | +0.0501% | 4h | 0.01912 | 0.000% | $3.7M | $1.5M | 13x | as long as short |
| MEXC PIPPIN_USDT | +0.0518% | 4h | 0.01911 | −0.052% | $2.8M | $804K | 50x | as long as short |
Pacifica PIPPIN
SunX PIPPIN-USDT
HTX PIPPIN-USDT
Bitget PIPPINUSDT
Aster PIPPINUSDT
KuCoin PIPPINUSDTM
Bybit PIPPINUSDT
MEXC PIPPIN_USDTShow all 13 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance PIPPINUSDT | +0.0519% | 4h | 0.01911 | −0.052% | $5.4M | $5.2M | 25x | as long as short |
| BingX PIPPIN-USDT | +0.0532% | 4h | 0.01912 | 0.000% | — | $1.4M | — | as long as short |
| Gate PIPPIN_USDT | +0.1144% | 4h | 0.01911 | −0.052% | $1.8M | $323K | 20x | as long as short |
Binance PIPPINUSDT
BingX PIPPIN-USDT
Gate PIPPIN_USDT