Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.053%

Price spread now: SunX against Aster+0.325%7-day average +0.099% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1521.524% of the position

Long on Aster Short on SunX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.356%−$36 on $10k

Price spread, last 4 days (all we have)−0.195%−$19 · spread now +0.325%, 7d avg +0.099%

Together, before fees−0.551%+ Points / potential airdropAster: Stage 5 · farm board−$55 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: SunX is 0.226% dearer against Aster than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.099%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PIPPINUSDT	0.01900	0.0100	pay 0.0050% / 4h	3h 21m	$111K	$35K	5x
Short	SunX PIPPIN-USDT	0.01906	0.0100	get 0.0050% / 4h	3h 21m	$1K	$10.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Aster. 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 AsterbpFee SunXbpOrdersPrice spread, now +0.325%Rate

Funding earned: $0
Price spread: +0.325% → +0.099%: $22.58
Slippage, 4 orders: −$136.36
Fee Aster: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$129.78
Costs to cover: 1.524%
Break-even: never at this rate

Slippage from Aster: live order book, 9 min ago; SunX: live order book, 7 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 Aster live order book, 9 min ago	5.29 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	18.48 bp	65.0 bp −$65	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
BloFin PIPPIN-USDT	+0.0059%	4h	0.01902	+0.114%	$256K	$32K	25x	as long as short
Aster PIPPINUSDTlong	+0.0100%	4h	0.01900	long leg	$111K	$35K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01901	+0.062%	$18K	$5K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01904	+0.220%	$5.4M	$5.3M	25x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01904	+0.220%	$2.7M	$787K	50x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01904	+0.220%	$1.6M	$337K	10x	as long as short
SunX PIPPIN-USDTshort	+0.0100%	4h	0.01906	+0.325%	$1K	$10.4M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01890	−0.517%	$34K	$14K	20x	as long as short
BingX PIPPIN-USDT	+0.0104%	4h	0.01904	+0.220%	—	$1.4M	—	as long as short
OKX PIPPIN-USDT-SWAP	+0.0140%	4h	0.01904	+0.220%	$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
Bybit PIPPINUSDT	+0.0147%	4h	0.01905	+0.272%	$3.6M	$1.5M	13x	as long as short
Gate PIPPIN_USDT	+0.0288%	4h	0.01902	+0.114%	$1.8M	$321K	20x	as long as short
KuCoin PIPPINUSDTM	+0.0328%	4h	0.01903	+0.167%	$2.1M	$6.6M	25x	as long as short