PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0954%/8h= −104.5% APRnext payment −$4.77 per $10,000 · paid last 24h −0.024%

Price spread now: Bitget against Gate−0.053%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$670as in the Funding arb table

Net, price: spread back to 7d avg − costs−$706as in the Price arb table

costs, in and out, $10k−$6986.978% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.273%+$27 on $10k

Price spread, last 7 days+0.062%+$6 · spread now −0.053%, 7d avg +0.029%

Together, before fees+0.335%+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and Bitget is 0.081% cheaper against Gate than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.029%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.273%, 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 0.273% in total (about 14.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.77 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	Gate PIPPIN_USDT	0.01902	0.1054	pay 0.0527% / 4h	2h 16m	$1.8M	$305K	20x
Short	Bitget PIPPINUSDT	0.01901	0.0100	get 0.0050% / 4h	2h 16m	$1.6M	$349K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Gate. 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 GatebpFee BitgetbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$200.34
Price spread: −0.053% → +0.029%: −$8.13
Slippage, 4 orders: −$670.77
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$906.24
Costs to cover: 6.978%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Bitget: live order book, just now.

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 Gate live order book, 1 min ago	5.25 bp	184.2 bp −$184	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, just now	7.89 bp	28.5 bp −$28	232.0 bp −$2,320	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
Bitget PIPPINUSDTshort	+0.0100%	4h	0.01901	−0.053%	$1.6M	$349K	10x
SunX PIPPIN-USDT	+0.0100%	4h	0.01902	0.000%	$1K	$9.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01889	−0.683%	$34K	$16K	20x	as long as short
Pacifica PIPPIN	+0.0134%	1h	0.01900	−0.105%	$18K	$9K	3x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0199%	4h	0.01900	−0.105%	$1.6M	$3.3M	20x	as long as short
Aster PIPPINUSDT	+0.0272%	4h	0.01899	−0.158%	$110K	$32K	5x	as long as short
BloFin PIPPIN-USDT	+0.0391%	4h	0.01901	−0.053%	$249K	$27K	25x	as long as short
KuCoin PIPPINUSDTM	+0.0392%	4h	0.01901	−0.053%	$2.1M	$3.2M	25x	as long as short
MEXC PIPPIN_USDT	+0.0442%	4h	0.01900	−0.105%	$2.5M	$768K	50x	as long as short
Binance PIPPINUSDT	+0.0442%	4h	0.01900	−0.079%	$5.3M	$4.6M	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDT	+0.0752%	4h	0.01901	−0.053%	—	$1.3M	—	as long as short
Bybit PIPPINUSDT	+0.0816%	4h	0.01903	+0.053%	$3.6M	$1.3M	13x	as long as short
Gate PIPPIN_USDTlong	+0.1054%	4h	0.01902	long leg	$1.8M	$305K	20x