PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0200%/8h= −21.9% APRnext payment −$1.00 per $10,000 · paid last 24h +0.108%

Price spread now: KuCoin against BloFin+0.266%80s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as 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−$1421.422% of the position

Long on BloFin Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.596%+$60 on $10k

Price spread, last 4 days (all we have)−0.321%−$32 · spread now +0.266%, 7d avg +0.012%

Together, before fees+0.276%+$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.254% dearer against BloFin than usual: you sell high and buy low (spread +0.266% now, against its 7-day average of +0.012%): +$25 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 4.2 days. Mind the row above: over the last 7 days funding on this pair paid +0.596%, so the current rate has only just turned against you. The two prices were read 80 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	0.01877	0.0300	pay 0.0150% / 4h	44m 02s	$254K	$30K	25x
Short	KuCoin PIPPINUSDTM	0.01882	0.0100	get 0.0050% / 4h	44m 02s	$2.1M	$7.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.266%Rate

Funding earned: −$42.06
Price spread: +0.266% → +0.012%: $25.41
Slippage, 4 orders: −$118.2
Fee BloFin: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$158.85
Costs to cover: 1.422%
Break-even: never at this rate

Slippage from BloFin: live order book, 55 min ago; KuCoin: 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, 55 min ago	2.64 bp	9.6 bp −$10	95.1 bp −$951	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.66 bp	56.1 bp −$56	doesn't fit	doesn't fit	doesn't fit

PIPPIN on 13 exchanges

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
Bitget PIPPINUSDT	−0.0434%	4h	0.01883	+0.320%	$1.6M	$248K	10x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01881	+0.213%	$18K	$4K	3x	as long as short
Bybit PIPPINUSDT	+0.0100%	4h	0.01884	+0.373%	$3.6M	$1.3M	13x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01881	+0.213%	$1.4M	$2.7M	20x	as long as short
KuCoin PIPPINUSDTMshort	+0.0100%	4h	0.01882	+0.266%	$2.1M	$7.1M	25x
SunX PIPPIN-USDT	+0.0100%	4h	0.01884	+0.373%	$2K	$8.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01870	−0.373%	$34K	$5K	20x	as long as short
Aster PIPPINUSDT	+0.0142%	4h	0.01877	+0.018%	$110K	$34K	5x	as long as short
Gate PIPPIN_USDT	+0.0196%	4h	0.01883	+0.320%	$1.8M	$295K	20x	as long as short
Binance PIPPINUSDT	+0.0284%	4h	0.01883	+0.320%	$5.3M	$4.4M	25x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PIPPIN_USDT	+0.0286%	4h	0.01883	+0.320%	$2.8M	$771K	50x	as long as short
BloFin PIPPIN-USDTlong	+0.0300%	4h	0.01877	long leg	$254K	$30K	25x
BingX PIPPIN-USDT	+0.0312%	4h	0.01883	+0.320%	—	$1.3M	—	as long as short