PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0246%/8h= +26.9% APRnext payment +$1.23 per $10,000 · paid last 24h +0.073%

Price spread now: Gate against Bybit−0.105%7-day average −0.125% · you buy dearer than you sell

Net, funding: paid 7d − costs−$701as in the Funding arb table

Net, price: spread back to 7d avg − costs−$702as in the Price arb table

costs, in and out, $10k−$7047.038% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 7 days+0.086%+$9 · spread now −0.105%, 7d avg −0.125%

Together, before fees+0.118%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.125%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.031% in total (about 1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.23 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	0.01896	0.0100	pay 0.0050% / 4h	2h 47m	$3.6M	$1.3M	13x
Short	Gate PIPPIN_USDT	0.01894	0.0346	get 0.0173% / 4h	2h 47m	$1.8M	$304K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.105%Rate

Funding earned: $51.66
Price spread: −0.105% → −0.125%: $1.97
Slippage, 4 orders: −$677.77
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$650.14
Costs to cover: 7.038%
Break-even: 95.1 days

Slippage from Bybit: live order book, 5 min ago; Gate: 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 Bybit live order book, 5 min ago	2.64 bp	18.2 bp −$18	100.7 bp −$1,007	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.64 bp	449.5 bp −$450	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
Aster PIPPINUSDT	+0.0100%	4h	0.01892	−0.229%	$110K	$32K	5x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01893	−0.158%	$5.3M	$4.5M	25x	as long as short
Bybit PIPPINUSDTlong	+0.0100%	4h	0.01896	long leg	$3.6M	$1.3M	13x
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01895	−0.053%	$1.6M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01892	−0.211%	$2.5M	$760K	50x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01895	−0.053%	$1.6M	$349K	10x	as long as short
BingX PIPPIN-USDT	+0.0100%	4h	0.01898	+0.105%	—	$1.3M	—	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01895	−0.053%	$3K	$9.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01886	−0.527%	$34K	$16K	20x	as long as short
Pacifica PIPPIN	+0.0134%	1h	0.01893	−0.158%	$18K	$9K	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PIPPIN-USDT	+0.0139%	4h	0.01895	−0.053%	$251K	$27K	25x	as long as short
KuCoin PIPPINUSDTM	+0.0140%	4h	0.01895	−0.053%	$2.1M	$3.3M	25x	as long as short
Gate PIPPIN_USDTshort	+0.0346%	4h	0.01894	−0.105%	$1.8M	$304K	20x