Funding arb · Price arb /

PIPPIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.039%

Price spread now: Aster against Pacifica−0.229%7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 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 · Aster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.229% cheaper against Pacifica than usual: you would sell low and buy high, −$23 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PIPPIN	0.01903	0.0100	pay 0.0013% / 1h	1h 00m	$18K	$9K	3x
Short	Aster PIPPINUSDT	0.01899	0.0100	get 0.0050% / 4h	1h 00m	$110K	$34K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Pacifica. 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 PacificabpFee AsterbpOrdersPrice spread, now −0.229%Rate

Funding earned: $0
Price spread: −0.229% → 0.000%: −$22.88
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$38.88
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; Aster: live order book, 16 min ago. 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 Pacifica no order-book sample	—	—	—	—	—
Sell Aster live order book, 16 min ago	5.28 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit

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
Aster PIPPINUSDTshort	+0.0100%	4h	0.01899	−0.229%	$110K	$34K	5x
Pacifica PIPPINlong	+0.0100%	1h	0.01903	long leg	$18K	$9K	3x
Binance PIPPINUSDT	+0.0100%	4h	0.01902	−0.079%	$5.3M	$4.6M	25x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01903	0.000%	$2K	$9.8M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01882	−1.104%	$34K	$16K	20x	as long as short
MEXC PIPPIN_USDT	+0.0104%	4h	0.01901	−0.105%	$2.5M	$761K	50x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0104%	4h	0.01903	0.000%	$1.6M	$3.3M	20x	as long as short
BloFin PIPPIN-USDT	+0.0115%	4h	0.01903	0.000%	$250K	$27K	25x	as long as short
Bitget PIPPINUSDT	+0.0128%	4h	0.01902	−0.053%	$1.6M	$334K	10x	as long as short
BingX PIPPIN-USDT	+0.0496%	4h	0.01902	−0.053%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PIPPIN_USDT	+0.0508%	4h	0.01901	−0.105%	$1.8M	$304K	20x	as long as short
Bybit PIPPINUSDT	+0.0566%	4h	0.01904	+0.053%	$3.7M	$1.4M	13x	as long as short
KuCoin PIPPINUSDTM	+0.0568%	4h	0.01903	0.000%	$2.1M	$3.6M	25x	as long as short