Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0194%/8h= −21.3% APRpaid last 24h −0.023%

Price spread now: Pacifica against OKX−0.235%49s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Pacifica is 0.235% cheaper against OKX than usual: you would sell low and buy high (−$24 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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	OKX PIPPIN-USDT-SWAP	0.01911	0.0294	pay 0.0147% / 4h	2h 37m	$1.5M	$3.4M	20x
Short	Pacifica PIPPIN	0.01906	0.0100	get 0.0013% / 1h	37m 54s	$18K	$9K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.235%Rate

Funding earned: −$40.79
Price spread: −0.235% → 0.000%: −$23.55
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$82.34
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 min ago; Pacifica: no order-book sample. Net counts fees only.

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, 4 min ago	5.24 bp	23.1 bp −$23	143.2 bp −$1,432	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
BloFin PIPPIN-USDT	+0.0042%	4h	0.01905	−0.314%	$253K	$26K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01905	−0.334%	$111K	$33K	5x	as long as short
Pacifica PIPPINshort	+0.0100%	1h	0.01906	−0.235%	$18K	$9K	3x
Binance PIPPINUSDT	+0.0100%	4h	0.01910	−0.052%	$5.4M	$5.1M	25x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01910	−0.052%	$2.6M	$711K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01909	−0.105%	$32	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01902	−0.471%	$34K	$14K	20x	as long as short
OKX PIPPIN-USDT-SWAPlong	+0.0294%	4h	0.01911	long leg	$1.5M	$3.4M	20x
Gate PIPPIN_USDT	+0.0344%	4h	0.01906	−0.262%	$1.8M	$320K	20x	as long as short
Bitget PIPPINUSDT	+0.0632%	4h	0.01909	−0.105%	$1.6M	$315K	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	+0.0774%	4h	0.01911	0.000%	$3.7M	$1.4M	13x	as long as short
BingX PIPPIN-USDT	+0.0828%	4h	0.01913	+0.105%	—	$1.3M	—	as long as short
KuCoin PIPPINUSDTM	+0.0968%	4h	0.01906	−0.262%	$2.1M	$5.7M	25x	as long as short