PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0046%/8h= +5.0% APRnext payment +$0.23 per $10,000 · paid last 24h +0.012%

Price spread now: BloFin against Bybit−0.263%112s7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as 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−$890.888% of the position

Long on Bybit Short on BloFin

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)+0.318%+$32 · spread now −0.263%, 7d avg −0.064%

Together, before fees+0.455%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.199% cheaper against Bybit than usual: you would sell low and buy high (spread −0.263% now, against its 7-day average of −0.064%). If the spread goes back, that is −$20 on $10k: about 15 days of funding at the current rate (+$1 a day). The two prices were read 112 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	Bybit PIPPINUSDT	0.01900	0.0100	pay 0.0050% / 4h	1h 35m	$3.6M	$1.4M	13x
Short	BloFin PIPPIN-USDT	0.01895	0.0146	get 0.0073% / 4h	1h 35m	$252K	$27K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Bybit. 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 BybitbpFee BloFinbpOrdersPrice spread, now −0.263%Rate

Funding earned: $9.61
Price spread: −0.263% → −0.064%: −$19.93
Slippage, 4 orders: −$65.81
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$99.13
Costs to cover: 0.888%
Break-even: 79.2 days

Slippage from Bybit: live order book, 2 min ago; BloFin: 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	2.63 bp	24.5 bp −$24	205.6 bp −$2,056	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	2.64 bp	14.8 bp −$15	62.1 bp −$621	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	−0.0778%	1h	0.01898	−0.105%	$18K	$9K	3x	as long as short
Aster PIPPINUSDT	+0.0044%	4h	0.01895	−0.282%	$110K	$33K	5x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01899	−0.069%	$5.4M	$4.8M	25x	as long as short
Bybit PIPPINUSDTlong	+0.0100%	4h	0.01900	long leg	$3.6M	$1.4M	13x
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01900	0.000%	$1.5M	$3.3M	20x	as long as short
Gate PIPPIN_USDT	+0.0100%	4h	0.01896	−0.211%	$1.8M	$302K	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01898	−0.105%	$2.4M	$726K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01898	−0.105%	$940	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01883	−0.895%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDTshort	+0.0146%	4h	0.01895	−0.263%	$252K	$27K	25x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.1280%	4h	0.01898	−0.105%	$2.1M	$4.8M	25x	as long as short
BingX PIPPIN-USDT	+0.1608%	4h	0.01902	+0.105%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.1620%	4h	0.01900	0.000%	$1.6M	$325K	10x	as long as short