PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0383%/8h= −42.0% APRnext payment −$1.92 per $10,000 · paid last 24h +0.054%

Price spread now: KuCoin against BingX+0.052%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$409as in the Funding arb table

Net, price: spread back to 7d avg − costs−$392as in the Price arb table

costs, in and out, $10k−$3993.987% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 7 days−0.043%−$4 · spread now +0.052%, 7d avg −0.012%

Together, before fees−0.142%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.064% dearer against BingX than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of −0.012%): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.099% in total) that is about 4.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.099% in total (about -5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.92 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	BingX PIPPIN-USDT	0.01910	0.2117	pay 0.1059% / 4h	2h 17m	—	$1.3M	—
Short	KuCoin PIPPINUSDTM	0.01911	0.1734	get 0.0867% / 4h	2h 17m	$2.1M	$4.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$80.47
Price spread: +0.052% → −0.012%: $6.42
Slippage, 4 orders: −$376.67
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$472.72
Costs to cover: 3.987%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; KuCoin: live order book, 5 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 BingX live order book, 9 min ago	2.62 bp	54.6 bp −$55	183.1 bp −$1,831	734.7 bp −$73.5K	doesn't fit
Sell KuCoin live order book, 5 min ago	5.22 bp	41.0 bp −$41	doesn't fit	doesn't fit	doesn't fit

PIPPIN on 12 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	0.01916	+0.314%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01912	+0.084%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01911	+0.027%	$5.4M	$4.8M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01910	0.000%	$1.5M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01910	0.000%	$2.5M	$744K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01916	+0.314%	$1K	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01897	−0.681%	$34K	$15K	20x	as long as short
Bybit PIPPINUSDT	+0.0126%	4h	0.01912	+0.105%	$3.7M	$1.4M	13x	as long as short
Gate PIPPIN_USDT	+0.0176%	4h	0.01912	+0.105%	$1.8M	$306K	20x	as long as short
KuCoin PIPPINUSDTMshort	+0.1734%	4h	0.01911	+0.052%	$2.1M	$4.5M	25x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDTlong	+0.2117%	4h	0.01910	long leg	—	$1.3M	—
Bitget PIPPINUSDT	+0.2232%	4h	0.01912	+0.105%	$1.6M	$328K	10x	as long as short