Funding arb · Price arb /

PIPPIN

all PIPPIN markets

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 +0.083%

Price spread now: Binance against SunX−0.026%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$152as in the Price arb table

costs, in and out, $10k−$1571.568% of the position

Long on SunX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.427%+$43 on $10k

Price spread, last 3 days (all we have)−0.073%−$7 · spread now −0.026%, 7d avg −0.077%

Together, before fees+0.355%+$35 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: Binance is 0.051% dearer against SunX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PIPPIN-USDT	0.01905	0.0100	pay 0.0050% / 4h	56m 58s	$1K	$9.8M	20x
Short	Binance PIPPINUSDT	0.01904	0.0100	get 0.0050% / 4h	56m 58s	$5.4M	$4.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.026%Rate

Funding earned: $0
Price spread: −0.026% → −0.077%: $5.11
Slippage, 4 orders: −$138.8
Fee SunX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$151.69
Costs to cover: 1.568%
Break-even: never at this rate

Slippage from SunX: live order book, 12 min ago; Binance: live order book, 11 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, 12 min ago	18.44 bp	48.8 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	2.64 bp	20.2 bp −$20	147.3 bp −$1,473	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
BloFin PIPPIN-USDT	+0.0042%	4h	0.01901	−0.210%	$250K	$27K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01899	−0.338%	$110K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01903	−0.105%	$18K	$9K	3x	as long as short
Binance PIPPINUSDTshort	+0.0100%	4h	0.01904	−0.026%	$5.4M	$4.6M	25x
MEXC PIPPIN_USDT	+0.0100%	4h	0.01903	−0.105%	$2.5M	$753K	50x	as long as short
SunX PIPPIN-USDTlong	+0.0100%	4h	0.01905	long leg	$1K	$9.8M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01884	−1.102%	$34K	$16K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0121%	4h	0.01906	+0.052%	$1.6M	$3.3M	20x	as long as short
Bitget PIPPINUSDT	+0.0194%	4h	0.01902	−0.157%	$1.6M	$334K	10x	as long as short
BingX PIPPIN-USDT	+0.0522%	4h	0.01904	−0.052%	—	$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	+0.0542%	4h	0.01903	−0.105%	$1.8M	$302K	20x	as long as short
Bybit PIPPINUSDT	+0.0609%	4h	0.01905	0.000%	$3.7M	$1.4M	13x	as long as short
KuCoin PIPPINUSDTM	+0.0620%	4h	0.01904	−0.052%	$2.1M	$3.6M	25x	as long as short