PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0230%/8h= +25.2% APRnext payment +$1.15 per $10,000 · paid last 24h +0.132%

Price spread now: BingX against SunX+0.053%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1761.758% of the position

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.034%+$103 on $10k

Price spread, last 3 days (all we have)+0.056%+$6 · spread now +0.053%, 7d avg +0.011%

Together, before fees+1.090%+$109 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BingX is 0.042% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PIPPIN-USDT	0.01902	0.0100	pay 0.0050% / 4h	2h 34m	$2K	$9.6M	20x
Short	BingX PIPPIN-USDT	0.01903	0.0330	get 0.0165% / 4h	2h 34m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.053%Rate

Funding earned: $48.3
Price spread: +0.053% → +0.011%: $4.17
Slippage, 4 orders: −$157.77
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$123.31
Costs to cover: 1.758%
Break-even: 24.9 days

Slippage from SunX: live order book, 4 min ago; BingX: live order book, 2 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, 4 min ago	18.47 bp	57.0 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	7.89 bp	25.9 bp −$26	101.5 bp −$1,015	287.0 bp −$28.7K	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 PIPPINUSDT	+0.0100%	4h	0.01898	−0.223%	$110K	$32K	5x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01900	−0.105%	$1.6M	$349K	10x	as long as short
SunX PIPPIN-USDTlong	+0.0100%	4h	0.01902	long leg	$2K	$9.6M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01889	−0.683%	$34K	$16K	20x	as long as short
MEXC PIPPIN_USDT	+0.0104%	4h	0.01902	0.000%	$2.5M	$765K	50x	as long as short
BloFin PIPPIN-USDT	+0.0133%	4h	0.01895	−0.368%	$250K	$27K	25x	as long as short
Pacifica PIPPIN	+0.0134%	1h	0.01902	0.000%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0138%	4h	0.01902	+0.006%	$5.3M	$4.5M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0157%	4h	0.01903	+0.053%	$1.6M	$3.3M	20x	as long as short
BingX PIPPIN-USDTshort	+0.0330%	4h	0.01903	+0.053%	—	$1.3M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.0346%	4h	0.01901	−0.053%	$2.1M	$3.2M	25x	as long as short
Bybit PIPPINUSDT	+0.0707%	4h	0.01903	+0.053%	$3.6M	$1.3M	13x	as long as short
Gate PIPPIN_USDT	+0.0804%	4h	0.01900	−0.105%	$1.8M	$304K	20x	as long as short