Funding you earn now, next payment 12:00 UTC+0.0044%/8h= +4.8% APRnext payment +$0.22 per $10,000 · paid last 24h +0.001%
Price spread now: OKX against Bybit0.000%7-day average −0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs−$93as in the Price arb table
costs, in and out, $10k−$970.974% of the position
Funding, last 7 days+0.279%+$28 on $10k
+Price spread, last 7 days−0.058%−$6 · spread now 0.000%, 7d avg −0.049%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and OKX is 0.049% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.049%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PIPPINUSDT | 0.01905 | 0.0100 | pay 0.0050% / 4h | 3h 55m | $3.6M | $1.5M | 13x |
| Short | OKX PIPPIN-USDT-SWAP | 0.01905 | 0.0144 | get 0.0072% / 4h | 3h 55m | $1.5M | $3.5M | 20x |
Bybit PIPPINUSDT
OKX PIPPIN-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $9.18
- Price spread: 0.000% → −0.049%
- $4.85
- Slippage, 4 orders
- −$76.41
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$83.38
- Costs to cover
- 0.974%
- Break-even
- 70.6 days
Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 2 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 | 2.62 bp | 26.2 bp −$26 | 359.9 bp −$3,599 | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 5.24 bp | 25.5 bp −$26 | 178.8 bp −$1,788 | 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-USDT | +0.0100% | 4h | 0.01903 | −0.105% | $220K | $32K | 25x | as long as short |
| Aster PIPPINUSDT | +0.0100% | 4h | 0.01902 | −0.167% | $111K | $35K | 5x | as long as short |
| Pacifica PIPPIN | +0.0100% | 1h | 0.01904 | −0.058% | $18K | $5K | 3x | as long as short |
| Binance PIPPINUSDT | +0.0100% | 4h | 0.01902 | −0.167% | $5.4M | $5.3M | 25x | as long as short |
| Bybit PIPPINUSDTlong | +0.0100% | 4h | 0.01905 | long leg | $3.6M | $1.5M | 13x | |
| Gate PIPPIN_USDT | +0.0100% | 4h | 0.01901 | −0.210% | $1.8M | $319K | 20x | as long as short |
| MEXC PIPPIN_USDT | +0.0100% | 4h | 0.01904 | −0.052% | $2.8M | $779K | 50x | as long as short |
| SunX PIPPIN-USDT | +0.0100% | 4h | 0.01905 | 0.000% | $2K | $10.4M | 20x | as long as short |
| HTX PIPPIN-USDT | +0.0100% | 4h | 0.01899 | −0.315% | $34K | $14K | 20x | as long as short |
| OKX PIPPIN-USDT-SWAPshort | +0.0144% | 4h | 0.01905 | 0.000% | $1.5M | $3.5M | 20x |
BloFin PIPPIN-USDT
Aster PIPPINUSDT
Pacifica PIPPIN
Binance PIPPINUSDT
Gate PIPPIN_USDT
MEXC PIPPIN_USDT
SunX PIPPIN-USDT
HTX PIPPIN-USDTShow all 13 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PIPPINUSDT | +0.0238% | 4h | 0.01904 | −0.052% | $1.6M | $328K | 10x | as long as short |
| BingX PIPPIN-USDT | +0.0268% | 4h | 0.01907 | +0.105% | — | $1.4M | — | as long as short |
| KuCoin PIPPINUSDTM | +0.0448% | 4h | 0.01904 | −0.052% | $2.1M | $6.4M | 25x | as long as short |
Bitget PIPPINUSDT
BingX PIPPIN-USDT
KuCoin PIPPINUSDTM