Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0666%/8h= +72.9% APRpaid last 24h +0.020%

Price spread now: Bitget against Pacifica−0.026%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 Bitget

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 · farm boardneeds both histories

Funding pays, the price is against you. Bitget is 0.026% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.026% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$20 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PIPPIN	0.01902	0.0100	pay 0.0013% / 1h	10m 15s	$18K	$9K	3x
Short	Bitget PIPPINUSDT	0.01901	0.0766	get 0.0383% / 4h	10m 15s	$1.6M	$331K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.026%Rate

Funding earned: $139.86
Price spread: −0.026% → 0.000%: −$2.63
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: $117.23
Costs to cover: 0.200%
Break-even: 1.1 days

Slippage unknown: Pacifica: no order-book sample; Bitget: live order book, 1 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 Bitget live order book, 1 min ago	7.89 bp	23.5 bp −$24	169.0 bp −$1,690	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 PIPPINUSDT	+0.0100%	4h	0.01901	−0.005%	$111K	$34K	5x	as long as short
Pacifica PIPPINlong	+0.0100%	1h	0.01902	long leg	$18K	$9K	3x
Binance PIPPINUSDT	+0.0100%	4h	0.01902	+0.007%	$5.3M	$4.6M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01902	+0.026%	$1.6M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01901	−0.026%	$2.4M	$765K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01902	+0.026%	$816	$9.9M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01889	−0.657%	$34K	$16K	20x	as long as short
BloFin PIPPIN-USDT	+0.0155%	4h	0.01899	−0.131%	$250K	$28K	25x	as long as short
Gate PIPPIN_USDT	+0.0332%	4h	0.01900	−0.079%	$1.8M	$305K	20x	as long as short
Bybit PIPPINUSDT	+0.0449%	4h	0.01903	+0.079%	$3.7M	$1.4M	13x	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	+0.0702%	4h	0.01901	−0.026%	—	$1.3M	—	as long as short
Bitget PIPPINUSDTshort	+0.0766%	4h	0.01901	−0.026%	$1.6M	$331K	10x
KuCoin PIPPINUSDTM	+0.0922%	4h	0.01903	+0.079%	$2.1M	$3.9M	25x	as long as short