PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0048%/8h= +5.2% APRnext payment +$0.24 per $10,000 · paid last 24h +0.048%

Price spread now: BloFin against SunX−0.157%55s7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1621.622% of the position

Long on SunX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.403%+$40 on $10k

Price spread, last 4 days (all we have)+0.112%+$11 · spread now −0.157%, 7d avg −0.044%

Together, before fees+0.514%+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.113% cheaper against SunX than usual: you would sell low and buy high (spread −0.157% now, against its 7-day average of −0.044%). If the spread goes back, that is −$11 on $10k: about 7.9 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.403% in total) that is about 47 hours. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PIPPIN-USDT	0.01911	0.0100	pay 0.0050% / 4h	3h 57m	$2K	$10.4M	20x
Short	BloFin PIPPIN-USDT	0.01908	0.0148	get 0.0074% / 4h	3h 57m	$255K	$32K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.157%Rate

Funding earned: $10
Price spread: −0.157% → −0.044%: −$11.27
Slippage, 4 orders: −$142.24
Fee SunX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$163.51
Costs to cover: 1.622%
Break-even: 121.5 days

Slippage from SunX: live order book, 11 min ago; BloFin: live order book, 9 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, 11 min ago	18.30 bp	56.3 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 9 min ago	2.62 bp	21.2 bp −$21	64.5 bp −$645	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 PIPPINUSDT	+0.0100%	4h	0.01908	−0.182%	$111K	$35K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01908	−0.147%	$18K	$5K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01908	−0.154%	$5.4M	$5.3M	25x	as long as short
Bybit PIPPINUSDT	+0.0100%	4h	0.01909	−0.105%	$3.6M	$1.5M	13x	as long as short
Gate PIPPIN_USDT	+0.0100%	4h	0.01907	−0.209%	$1.8M	$319K	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01907	−0.209%	$2.8M	$778K	50x	as long as short
SunX PIPPIN-USDTlong	+0.0100%	4h	0.01911	long leg	$2K	$10.4M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01898	−0.680%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDTshort	+0.0148%	4h	0.01908	−0.157%	$255K	$32K	25x
OKX PIPPIN-USDT-SWAP	+0.0162%	4h	0.01908	−0.157%	$1.5M	$3.5M	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PIPPINUSDT	+0.0258%	4h	0.01908	−0.157%	$1.6M	$328K	10x	as long as short
BingX PIPPIN-USDT	+0.0302%	4h	0.01909	−0.105%	—	$1.4M	—	as long as short
KuCoin PIPPINUSDTM	+0.0472%	4h	0.01908	−0.157%	$2.1M	$6.4M	25x	as long as short