PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0371%/8h= +40.6% APRnext payment +$1.85 per $10,000 · paid last 24h −0.002%

Price spread now: Bybit against OKX+0.105%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$950.955% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 7 days−0.057%−$6 · spread now +0.105%, 7d avg +0.049%

Together, before fees−0.333%−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Bybit is 0.056% dearer against OKX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.049%. Mind the row above: over the last 7 days funding on this pair cost −0.277%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PIPPIN-USDT-SWAP	0.01904	0.0100	pay 0.0050% / 4h	3h 39m	$1.6M	$3.2M	20x
Short	Bybit PIPPINUSDT	0.01906	0.0471	get 0.0235% / 4h	3h 39m	$3.7M	$1.4M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.105%Rate

Funding earned: $77.87
Price spread: +0.105% → +0.049%: $5.63
Slippage, 4 orders: −$74.46
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$11.96
Costs to cover: 0.955%
Break-even: 8.1 days

Slippage from OKX: 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 OKX live order book, 3 min ago	2.62 bp	18.5 bp −$19	142.8 bp −$1,428	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.62 bp	28.2 bp −$28	163.4 bp −$1,634	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	0.01905	+0.030%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01906	+0.105%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01905	+0.053%	$5.4M	$4.7M	25x	as long as short
OKX PIPPIN-USDT-SWAPlong	+0.0100%	4h	0.01904	long leg	$1.6M	$3.2M	20x
MEXC PIPPIN_USDT	+0.0100%	4h	0.01904	0.000%	$2.4M	$759K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01909	+0.263%	$1K	$9.9M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01893	−0.578%	$34K	$16K	20x	as long as short
BloFin PIPPIN-USDT	+0.0145%	4h	0.01904	0.000%	$251K	$27K	25x	as long as short
Bybit PIPPINUSDTshort	+0.0471%	4h	0.01906	+0.105%	$3.7M	$1.4M	13x
Gate PIPPIN_USDT	+0.0594%	4h	0.01906	+0.105%	$1.8M	$301K	20x	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	+0.1212%	4h	0.01902	−0.105%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.1350%	4h	0.01907	+0.158%	$1.6M	$330K	10x	as long as short
KuCoin PIPPINUSDTM	+0.1368%	4h	0.01906	+0.105%	$2.1M	$4.1M	25x	as long as short