PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0354%/8h= +38.8% APRnext payment +$1.77 per $10,000 · paid last 24h −0.009%

Price spread now: OKX against Binance+0.066%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$920.916% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 7 days−0.017%−$2 · spread now +0.066%, 7d avg +0.096%

Together, before fees+0.105%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.031% cheaper against Binance than usual: you would sell low and buy high (spread +0.066% now, against its 7-day average of +0.096%). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.122% in total) that is about 42 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.122% in total (about 6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.77 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PIPPINUSDT	0.01929	0.0100	pay 0.0050% / 4h	2h 05m	$5.5M	$5.2M	25x
Short	OKX PIPPIN-USDT-SWAP	0.01930	0.0454	get 0.0227% / 4h	2h 05m	$1.6M	$3.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now +0.066%Rate

Funding earned: $74.41
Price spread: +0.066% → +0.096%: −$3.06
Slippage, 4 orders: −$71.61
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$20.26
Costs to cover: 0.916%
Break-even: 8.9 days

Slippage from Binance: live order book, 2 min ago; OKX: live order book, 1 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 Binance live order book, 2 min ago	5.19 bp	23.7 bp −$24	317.8 bp −$3,178	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	2.60 bp	16.3 bp −$16	120.1 bp −$1,201	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	0.01928	−0.038%	$112K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01925	−0.194%	$18K	$9K	3x	as long as short
Binance PIPPINUSDTlong	+0.0100%	4h	0.01929	long leg	$5.5M	$5.2M	25x
MEXC PIPPIN_USDT	+0.0100%	4h	0.01928	−0.038%	$2.6M	$752K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01927	−0.090%	$1K	$10.3M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01911	−0.919%	$35K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0103%	4h	0.01924	−0.245%	$255K	$27K	25x	as long as short
OKX PIPPIN-USDT-SWAPshort	+0.0454%	4h	0.01930	+0.066%	$1.6M	$3.5M	20x
Gate PIPPIN_USDT	+0.0518%	4h	0.01928	−0.038%	$1.8M	$326K	20x	as long as short
Bybit PIPPINUSDT	+0.0875%	4h	0.01930	+0.066%	$3.7M	$1.5M	13x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDT	+0.0938%	4h	0.01927	−0.090%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.1082%	4h	0.01928	−0.038%	$1.6M	$319K	10x	as long as short
KuCoin PIPPINUSDTM	+0.1238%	4h	0.01928	−0.038%	$2.2M	$5.8M	25x	as long as short