PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1817%/8h= −199.0% APRnext payment −$9.08 per $10,000 · paid last 24h −0.067%

Price spread now: OKX against BingX0.000%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$890.892% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.530%−$53 on $10k

Price spread, last 7 days−0.039%−$4 · spread now 0.000%, 7d avg +0.004%

Together, before fees−0.569%−$57 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: −$55 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.530% in total (about -27.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$9.08 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	0.01922	0.1926	pay 0.0963% / 4h	3h 04m	—	$1.3M	—
Short	OKX PIPPIN-USDT-SWAP	0.01922	0.0109	get 0.0055% / 4h	3h 04m	$1.6M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$381.57
Price spread: 0.000% → +0.004%: −$0.39
Slippage, 4 orders: −$69.22
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$471.18
Costs to cover: 0.892%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; OKX: 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 BingX live order book, 12 min ago	7.83 bp	19.8 bp −$20	183.9 bp −$1,839	710.6 bp −$71.1K	doesn't fit
Sell OKX live order book, 3 min ago	5.21 bp	18.1 bp −$18	128.0 bp −$1,280	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	0.01921	−0.037%	$112K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01924	+0.104%	$18K	$9K	3x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01925	+0.156%	$849	$9.9M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01895	−1.405%	$34K	$15K	20x	as long as short
OKX PIPPIN-USDT-SWAPshort	+0.0109%	4h	0.01922	0.000%	$1.6M	$3.2M	20x
MEXC PIPPIN_USDT	+0.0196%	4h	0.01924	+0.104%	$2.5M	$763K	50x	as long as short
Binance PIPPINUSDT	+0.0196%	4h	0.01923	+0.052%	$5.4M	$4.7M	25x	as long as short
BloFin PIPPIN-USDT	+0.0207%	4h	0.01924	+0.104%	$218K	$28K	25x	as long as short
Bybit PIPPINUSDT	+0.0342%	4h	0.01924	+0.104%	$3.7M	$1.4M	13x	as long as short
Gate PIPPIN_USDT	+0.1020%	4h	0.01922	0.000%	$1.8M	$304K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.1832%	4h	0.01925	+0.156%	$2.1M	$4.3M	25x	as long as short
BingX PIPPIN-USDTlong	+0.1926%	4h	0.01922	long leg	—	$1.3M	—
Bitget PIPPINUSDT	+0.2240%	4h	0.01923	+0.052%	$1.6M	$327K	10x	as long as short