PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0124%/8h= +13.5% APRnext payment +$0.62 per $10,000 · paid last 24h −0.012%

Price spread now: Bybit against BloFin+0.314%82s7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as 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−$810.812% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

Price spread, last 3 days (all we have)−0.271%−$27 · spread now +0.314%, 7d avg +0.065%

Together, before fees−0.408%−$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bybit is 0.250% dearer against BloFin than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.065%. Mind the row above: over the last 7 days funding on this pair cost −0.137%, so the current rate has only just turned in your favour. The two prices were read 82 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	0.01908	0.0044	pay 0.0022% / 4h	3h 25m	$251K	$27K	25x
Short	Bybit PIPPINUSDT	0.01914	0.0167	get 0.0084% / 4h	3h 25m	$3.7M	$1.4M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.314%Rate

Funding earned: $25.97
Price spread: +0.314% → +0.065%: $24.98
Slippage, 4 orders: −$58.24
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.29
Costs to cover: 0.812%
Break-even: 15.2 days

Slippage from BloFin: live order book, 40 min ago; Bybit: 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, 40 min ago	5.25 bp	14.1 bp −$14	85.5 bp −$855	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	5.24 bp	20.4 bp −$20	127.0 bp −$1,270	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-USDTlong	+0.0044%	4h	0.01908	long leg	$251K	$27K	25x
Aster PIPPINUSDT	+0.0100%	4h	0.01907	−0.052%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01908	0.000%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01913	+0.255%	$5.4M	$4.6M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01915	+0.367%	$1.6M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01912	+0.210%	$2.5M	$760K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01913	+0.262%	$1K	$9.9M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01895	−0.681%	$34K	$15K	20x	as long as short
Bybit PIPPINUSDTshort	+0.0167%	4h	0.01914	+0.314%	$3.7M	$1.4M	13x
Gate PIPPIN_USDT	+0.0692%	4h	0.01910	+0.105%	$1.8M	$302K	20x	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	+0.1380%	4h	0.01914	+0.314%	—	$1.3M	—	as long as short
KuCoin PIPPINUSDTM	+0.1484%	4h	0.01911	+0.157%	$2.1M	$4.2M	25x	as long as short
Bitget PIPPINUSDT	+0.1496%	4h	0.01908	0.000%	$1.6M	$330K	10x	as long as short