Funding arb · Price arb /

PIPPIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.093%

Price spread now: Aster against SunX−0.139%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1601.599% of the position

Long on SunX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.360%+$36 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now −0.139%, 7d avg −0.113%

Together, before fees+0.326%+ Points / potential airdropAster: Stage 5 · farm board+$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.026% cheaper against SunX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.113%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PIPPIN-USDT	0.01900	0.0100	pay 0.0050% / 4h	31m 46s	$798	$9.8M	20x
Short	Aster PIPPINUSDT	0.01897	0.0100	get 0.0050% / 4h	31m 46s	$110K	$34K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against SunX. 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 SunXbpFee AsterbpOrdersPrice spread, now −0.139%Rate

Funding earned: $0
Price spread: −0.139% → −0.113%: −$2.56
Slippage, 4 orders: −$143.87
Fee SunX: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$162.43
Costs to cover: 1.599%
Break-even: never at this rate

Slippage from SunX: live order book, 7 min ago; Aster: live order book, 44 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 SunX live order book, 7 min ago	18.41 bp	58.0 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 44 min ago	5.28 bp	15.2 bp −$15	doesn't fit	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 PIPPINUSDTshort	+0.0100%	4h	0.01897	−0.139%	$110K	$34K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01898	−0.105%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01898	−0.105%	$5.3M	$4.6M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01899	−0.053%	$1.5M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01898	−0.105%	$2.4M	$763K	50x	as long as short
SunX PIPPIN-USDTlong	+0.0100%	4h	0.01900	long leg	$798	$9.8M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01891	−0.474%	$34K	$16K	20x	as long as short
BloFin PIPPIN-USDT	+0.0126%	4h	0.01900	0.000%	$250K	$28K	25x	as long as short
Gate PIPPIN_USDT	+0.0474%	4h	0.01898	−0.105%	$1.8M	$305K	20x	as long as short
Bybit PIPPINUSDT	+0.0515%	4h	0.01899	−0.053%	$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	+0.0660%	4h	0.01899	−0.053%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.0702%	4h	0.01899	−0.053%	$1.6M	$333K	10x	as long as short
KuCoin PIPPINUSDTM	+0.0868%	4h	0.01900	0.000%	$2.1M	$3.8M	25x	as long as short