PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0227%/8h= +24.9% APRnext payment +$1.14 per $10,000 · paid last 24h +0.002%

Price spread now: OKX against BloFin+0.052%53s7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as 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−$860.865% of the position

Long on BloFin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.052%, 7d avg +0.042%

Together, before fees+0.106%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.042%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.144% in total (about 7.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.14 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	BloFin PIPPIN-USDT	0.01909	0.0146	pay 0.0073% / 4h	2h 26m	$253K	$27K	25x
Short	OKX PIPPIN-USDT-SWAP	0.01910	0.0373	get 0.0186% / 4h	2h 26m	$1.6M	$3.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.052%Rate

Funding earned: $47.76
Price spread: +0.052% → +0.042%: $1.05
Slippage, 4 orders: −$64.5
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$37.68
Costs to cover: 0.865%
Break-even: 12.5 days

Slippage from BloFin: live order book, 55 min ago; OKX: live order book, 1 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	5.25 bp	18.3 bp −$18	110.2 bp −$1,102	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	2.62 bp	20.6 bp −$21	141.4 bp −$1,414	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	0.01911	+0.091%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01910	+0.026%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01910	+0.052%	$5.4M	$5.1M	25x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01909	0.000%	$2.6M	$733K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01904	−0.262%	$1K	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01903	−0.314%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDTlong	+0.0146%	4h	0.01909	long leg	$253K	$27K	25x
OKX PIPPIN-USDT-SWAPshort	+0.0373%	4h	0.01910	+0.052%	$1.6M	$3.5M	20x
Gate PIPPIN_USDT	+0.0442%	4h	0.01909	0.000%	$1.8M	$322K	20x	as long as short
Bitget PIPPINUSDT	+0.0780%	4h	0.01910	+0.052%	$1.6M	$317K	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-USDT	+0.0976%	4h	0.01912	+0.157%	—	$1.3M	—	as long as short
Bybit PIPPINUSDT	+0.0996%	4h	0.01910	+0.052%	$3.6M	$1.5M	13x	as long as short
KuCoin PIPPINUSDTM	+0.1074%	4h	0.01910	+0.052%	$2.1M	$5.7M	25x	as long as short