PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0645%/8h= +70.7% APRnext payment +$3.23 per $10,000 · paid last 24h +0.077%

Price spread now: BingX against BloFin−0.208%96s7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1191.189% of the position

Long on BloFin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.689%+$69 on $10k

Price spread, last 4 days (all we have)+0.190%+$19 · spread now −0.208%, 7d avg +0.048%

Together, before fees+0.879%+$88 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.257% cheaper against BloFin than usual: you would sell low and buy high (spread −0.208% now, against its 7-day average of +0.048%). If the spread goes back, that is −$26 on $10k: about 32 hours of funding at the current rate (+$19 a day). The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PIPPIN-USDT	0.01919	0.0159	pay 0.0079% / 4h	2h 49m	$255K	$27K	25x
Short	BingX PIPPIN-USDT	0.01915	0.0804	get 0.0402% / 4h	2h 49m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against BloFin. 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 BloFinbpFee BingXbpOrdersPrice spread, now −0.208%Rate

Funding earned: $135.52
Price spread: −0.208% → +0.048%: −$25.66
Slippage, 4 orders: −$96.86
Fee BloFin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$9
Costs to cover: 1.189%
Break-even: 7.5 days

Slippage from BloFin: live order book, 32 min ago; BingX: live order book, 2 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 BloFin live order book, 32 min ago	5.25 bp	18.3 bp −$18	110.2 bp −$1,102	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	2.61 bp	17.5 bp −$18	94.6 bp −$946	507.8 bp −$50.8K	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	0.01911	−0.418%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01914	−0.261%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01914	−0.259%	$5.4M	$5.0M	25x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01912	−0.365%	$2.5M	$707K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01916	−0.156%	$2K	$10.3M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01900	−0.990%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDTlong	+0.0159%	4h	0.01919	long leg	$255K	$27K	25x
OKX PIPPIN-USDT-SWAP	+0.0275%	4h	0.01915	−0.208%	$1.5M	$3.4M	20x	as long as short
Gate PIPPIN_USDT	+0.0378%	4h	0.01916	−0.156%	$1.8M	$318K	20x	as long as short
Bitget PIPPINUSDT	+0.0760%	4h	0.01918	−0.052%	$1.6M	$312K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDTshort	+0.0804%	4h	0.01915	−0.208%	—	$1.3M	—
Bybit PIPPINUSDT	+0.0870%	4h	0.01916	−0.156%	$3.7M	$1.4M	13x	as long as short
KuCoin PIPPINUSDTM	+0.1082%	4h	0.01915	−0.208%	$2.1M	$5.6M	25x	as long as short