PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0390%/8h= +42.7% APRnext payment +$1.95 per $10,000 · paid last 24h +0.097%

Price spread now: Gate against SunX−0.263%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$759as in the Funding arb table

Net, price: spread back to 7d avg − costs−$803as in the Price arb table

costs, in and out, $10k−$7867.864% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.274%+$27 on $10k

Price spread, last 3 days (all we have)+0.209%+$21 · spread now −0.263%, 7d avg −0.096%

Together, before fees+0.483%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.167% cheaper against SunX than usual: you would sell low and buy high (spread −0.263% now, against its 7-day average of −0.096%). If the spread goes back, that is −$17 on $10k: about 34 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.274% in total) that is about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PIPPIN-USDT	0.01898	0.0100	pay 0.0050% / 4h	2h 54m	$2K	$9.7M	20x
Short	Gate PIPPIN_USDT	0.01893	0.0490	get 0.0245% / 4h	2h 54m	$1.8M	$304K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.263%Rate

Funding earned: $81.9
Price spread: −0.263% → −0.096%: −$16.74
Slippage, 4 orders: −$763.39
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$721.23
Costs to cover: 7.864%
Break-even: 68.6 days

Slippage from SunX: live order book, 5 min ago; Gate: live order book, 3 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, 5 min ago	18.44 bp	48.0 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	5.27 bp	466.4 bp −$466	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 PIPPINUSDT	+0.0100%	4h	0.01895	−0.168%	$110K	$32K	5x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01893	−0.262%	$5.3M	$4.6M	25x	as long as short
Bybit PIPPINUSDT	+0.0100%	4h	0.01892	−0.316%	$3.6M	$1.3M	13x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01893	−0.263%	$1.6M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01893	−0.263%	$2.5M	$757K	50x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01894	−0.211%	$1.6M	$350K	10x	as long as short
SunX PIPPIN-USDTlong	+0.0100%	4h	0.01898	long leg	$2K	$9.7M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01887	−0.580%	$34K	$16K	20x	as long as short
BloFin PIPPIN-USDT	+0.0114%	4h	0.01896	−0.105%	$216K	$27K	25x	as long as short
Pacifica PIPPIN	+0.0134%	1h	0.01895	−0.174%	$18K	$9K	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.0176%	4h	0.01899	+0.053%	$2.1M	$3.4M	25x	as long as short
BingX PIPPIN-USDT	+0.0246%	4h	0.01897	−0.053%	—	$1.3M	—	as long as short
Gate PIPPIN_USDTshort	+0.0490%	4h	0.01893	−0.263%	$1.8M	$304K	20x