PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0320%/8h= −35.0% APRnext payment −$1.60 per $10,000 · paid last 24h +0.009%

Price spread now: Binance against OKX0.000%7-day average −0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$920.923% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 7 days−0.049%−$5 · spread now 0.000%, 7d avg −0.096%

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

The price spread pays, funding is against you. Binance is 0.096% dearer against OKX than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.096%): +$10 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 7 days (−0.122% in total) that is about 5.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.122% in total (about -6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.60 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	OKX PIPPIN-USDT-SWAP	0.01922	0.0420	pay 0.0210% / 4h	2h 19m	$1.6M	$3.5M	20x
Short	Binance PIPPINUSDT	0.01922	0.0100	get 0.0050% / 4h	2h 19m	$5.5M	$5.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$67.19
Price spread: 0.000% → −0.096%: $9.63
Slippage, 4 orders: −$72.32
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$149.89
Costs to cover: 0.923%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Binance: 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 OKX live order book, 3 min ago	2.61 bp	28.0 bp −$28	168.4 bp −$1,684	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	2.62 bp	22.9 bp −$23	146.3 bp −$1,463	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	0.01919	−0.171%	$112K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01922	0.000%	$18K	$9K	3x	as long as short
Binance PIPPINUSDTshort	+0.0100%	4h	0.01922	0.000%	$5.5M	$5.2M	25x
MEXC PIPPIN_USDT	+0.0100%	4h	0.01922	0.000%	$2.6M	$750K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01921	−0.052%	$1K	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01898	−1.249%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0146%	4h	0.01917	−0.260%	$258K	$27K	25x	as long as short
OKX PIPPIN-USDT-SWAPlong	+0.0420%	4h	0.01922	long leg	$1.6M	$3.5M	20x
Gate PIPPIN_USDT	+0.0428%	4h	0.01923	+0.052%	$1.8M	$324K	20x	as long as short
Bitget PIPPINUSDT	+0.0820%	4h	0.01922	0.000%	$1.6M	$318K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PIPPINUSDT	+0.0934%	4h	0.01924	+0.104%	$3.7M	$1.5M	13x	as long as short
BingX PIPPIN-USDT	+0.0968%	4h	0.01923	+0.052%	—	$1.3M	—	as long as short
KuCoin PIPPINUSDTM	+0.1098%	4h	0.01921	−0.052%	$2.1M	$5.8M	25x	as long as short