PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0079%/8h= −8.6% APRnext payment −$0.39 per $10,000 · paid last 24h −0.073%

Price spread now: Bybit against Gate+0.158%7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$785as in the Funding arb table

Net, price: spread back to 7d avg − costs−$779as in the Price arb table

costs, in and out, $10k−$7827.819% of the position

Long on Gate Short on Bybit

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−0.139%−$14 · spread now +0.158%, 7d avg +0.125%

Together, before fees−0.171%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.033% dearer against Gate than usual: you sell high and buy low (spread +0.158% now, against its 7-day average of +0.125%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 34 hours. At the pace of the last 7 days (−0.031% in total) that is about 7.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PIPPIN_USDT	0.01894	0.0734	pay 0.0367% / 4h	1h 54m	$1.8M	$300K	20x
Short	Bybit PIPPINUSDT	0.01897	0.0655	get 0.0328% / 4h	1h 54m	$3.6M	$1.3M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.158%Rate

Funding earned: −$16.51
Price spread: +0.158% → +0.125%: $3.32
Slippage, 4 orders: −$755.87
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$795.06
Costs to cover: 7.819%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Bybit: 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 Gate live order book, 3 min ago	2.64 bp	242.1 bp −$242	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.64 bp	12.1 bp −$12	94.9 bp −$949	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	+0.0100%	1h	0.01895	+0.037%	$18K	$9K	3x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01891	−0.158%	$1.6M	$350K	10x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01899	+0.264%	$1K	$9.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01886	−0.422%	$34K	$16K	20x	as long as short
Aster PIPPINUSDT	+0.0116%	4h	0.01889	−0.239%	$110K	$32K	5x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0116%	4h	0.01898	+0.211%	$1.6M	$3.3M	20x	as long as short
KuCoin PIPPINUSDTM	+0.0330%	4h	0.01897	+0.158%	$2.1M	$3.3M	25x	as long as short
MEXC PIPPIN_USDT	+0.0338%	4h	0.01895	+0.053%	$2.6M	$747K	50x	as long as short
Binance PIPPINUSDT	+0.0339%	4h	0.01896	+0.093%	$5.3M	$4.6M	25x	as long as short
BloFin PIPPIN-USDT	+0.0347%	4h	0.01897	+0.158%	$250K	$27K	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	+0.0600%	4h	0.01897	+0.158%	—	$1.3M	—	as long as short
Bybit PIPPINUSDTshort	+0.0655%	4h	0.01897	+0.158%	$3.6M	$1.3M	13x
Gate PIPPIN_USDTlong	+0.0734%	4h	0.01894	long leg	$1.8M	$300K	20x