PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0104%/8h= −11.4% APRnext payment −$0.52 per $10,000 · paid last 24h −0.025%

Price spread now: BloFin against Gate+0.210%93s7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$829as 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−$8408.399% of the position

Long on Gate Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.210%, 7d avg +0.053%

Together, before fees+0.093%+$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.158% dearer against Gate than usual: you sell high and buy low (spread +0.210% now, against its 7-day average of +0.053%): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.113%, so the current rate has only just turned against you. The two prices were read 93 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	Gate PIPPIN_USDT	0.01902	0.0204	pay 0.0102% / 4h	3h 59m	$1.8M	$308K	20x
Short	BloFin PIPPIN-USDT	0.01906	0.0100	get 0.0050% / 4h	3h 59m	$253K	$22K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.210%Rate

Funding earned: −$21.81
Price spread: +0.210% → +0.053%: $15.75
Slippage, 4 orders: −$812.91
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$845.96
Costs to cover: 8.399%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; BloFin: live order book, 32 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 Gate live order book, 3 min ago	2.63 bp	211.1 bp −$211	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 32 min ago	7.90 bp	28.6 bp −$29	98.3 bp −$983	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	0.01903	+0.043%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01904	+0.105%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01903	+0.058%	$5.4M	$4.9M	25x	as long as short
Bybit PIPPINUSDT	+0.0100%	4h	0.01907	+0.263%	$3.6M	$1.4M	13x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01903	+0.053%	$2.5M	$706K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01909	+0.368%	$809	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01888	−0.736%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDTshort	+0.0100%	4h	0.01906	+0.210%	$253K	$22K	25x
Gate PIPPIN_USDTlong	+0.0204%	4h	0.01902	long leg	$1.8M	$308K	20x
OKX PIPPIN-USDT-SWAP	+0.0238%	4h	0.01901	−0.053%	$1.5M	$3.3M	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PIPPINUSDT	+0.0526%	4h	0.01905	+0.158%	$1.6M	$313K	10x	as long as short
BingX PIPPIN-USDT	+0.0534%	4h	0.01904	+0.105%	—	$1.3M	—	as long as short
KuCoin PIPPINUSDTM	+0.0740%	4h	0.01906	+0.210%	$2.1M	$5.2M	25x	as long as short