Funding you earn now, next payment 00:00 UTC−0.0406%/8h= −44.4% APRnext payment −$2.03 per $10,000 · paid last 24h +0.059%
Price spread now: Binance against Bybit+0.081%7-day average −0.146% · you sell dearer than you buy
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$750.746% of the position
Funding, last 7 days+0.185%+$18 on $10k
+Price spread, last 7 days−0.139%−$14 · spread now +0.081%, 7d avg −0.146%
=The price spread pays, funding is against you. Binance is 0.227% dearer against Bybit than usual: you sell high and buy low (spread +0.081% now, against its 7-day average of −0.146%): +$23 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 45 hours. Mind the row above: over the last 7 days funding on this pair paid +0.185%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.185% in total (about 9.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.03 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 | Bybit PIPPINUSDT | 0.01906 | 0.0506 | pay 0.0253% / 4h | 5m 09s | $3.7M | $1.4M | 13x |
| Short | Binance PIPPINUSDT | 0.01908 | 0.0100 | get 0.0050% / 4h | 5m 09s | $5.4M | $4.6M | 25x |
Bybit PIPPINUSDT
Binance PIPPINUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bybit. 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
- −$85.22
- Price spread: +0.081% → −0.146%
- $22.74
- Slippage, 4 orders
- −$53.59
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$137.08
- Costs to cover
- 0.746%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; Binance: live order book, 3 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 Bybit live order book, 2 min ago | 5.25 bp | 21.3 bp −$21 | 120.8 bp −$1,208 | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 2.63 bp | 16.8 bp −$17 | 146.8 bp −$1,468 | 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 | +0.039% | $111K | $34K | 5x | as long as short |
| Pacifica PIPPIN | +0.0100% | 1h | 0.01905 | −0.042% | $18K | $9K | 3x | as long as short |
| Binance PIPPINUSDTshort | +0.0100% | 4h | 0.01908 | +0.081% | $5.4M | $4.6M | 25x | |
| OKX PIPPIN-USDT-SWAP | +0.0100% | 4h | 0.01907 | +0.052% | $1.6M | $3.2M | 20x | as long as short |
| MEXC PIPPIN_USDT | +0.0100% | 4h | 0.01906 | 0.000% | $2.4M | $765K | 50x | as long as short |
| SunX PIPPIN-USDT | +0.0100% | 4h | 0.01906 | 0.000% | $1K | $9.9M | 20x | as long as short |
| HTX PIPPIN-USDT | +0.0100% | 4h | 0.01894 | −0.630% | $34K | $16K | 20x | as long as short |
| BloFin PIPPIN-USDT | +0.0117% | 4h | 0.01905 | −0.052% | $250K | $28K | 25x | as long as short |
| Gate PIPPIN_USDT | +0.0360% | 4h | 0.01906 | 0.000% | $1.8M | $305K | 20x | as long as short |
| Bybit PIPPINUSDTlong | +0.0506% | 4h | 0.01906 | long leg | $3.7M | $1.4M | 13x |
Aster PIPPINUSDT
Pacifica PIPPIN
OKX PIPPIN-USDT-SWAP
MEXC PIPPIN_USDT
SunX PIPPIN-USDT
HTX PIPPIN-USDT
BloFin PIPPIN-USDT
Gate PIPPIN_USDTShow all 13 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX PIPPIN-USDT | +0.0740% | 4h | 0.01905 | −0.052% | — | $1.3M | — | as long as short |
| Bitget PIPPINUSDT | +0.0844% | 4h | 0.01904 | −0.105% | $1.6M | $330K | 10x | as long as short |
| KuCoin PIPPINUSDTM | +0.1002% | 4h | 0.01905 | −0.052% | $2.1M | $3.9M | 25x | as long as short |
BingX PIPPIN-USDT
Bitget PIPPINUSDT
KuCoin PIPPINUSDTM