Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0014%/8h= −1.6% APRpaid last 24h −0.016%

Price spread now: Pacifica against BloFin+0.111%94s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

The price spread pays, funding is against you. Pacifica is 0.111% dearer against BloFin than usual: you sell high and buy low (spread +0.111% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 26 days. The two prices were read 94 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	0.01893	0.0114	pay 0.0057% / 4h	1h 07m	$250K	$27K	25x
Short	Pacifica PIPPIN	0.01895	0.0100	get 0.0013% / 1h	7m 28s	$18K	$9K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.111%Rate

Funding earned: −$3.01
Price spread: +0.111% → 0.000%: $11.09
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$11.91
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 4 min ago; Pacifica: no order-book sample. Net counts fees only.

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, 4 min ago	2.64 bp	22.4 bp −$22	85.8 bp −$858	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.01896	+0.176%	$110K	$34K	5x	as long as short
Pacifica PIPPINshort	+0.0100%	1h	0.01895	+0.111%	$18K	$9K	3x
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01899	+0.317%	$1.6M	$3.3M	20x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01897	+0.211%	$1.6M	$334K	10x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01897	+0.211%	$2K	$9.8M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01883	−0.528%	$34K	$16K	20x	as long as short
BloFin PIPPIN-USDTlong	+0.0114%	4h	0.01893	long leg	$250K	$27K	25x
Binance PIPPINUSDT	+0.0130%	4h	0.01896	+0.158%	$5.3M	$4.6M	25x	as long as short
MEXC PIPPIN_USDT	+0.0134%	4h	0.01894	+0.053%	$2.6M	$750K	50x	as long as short
BingX PIPPIN-USDT	+0.0468%	4h	0.01899	+0.317%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PIPPIN_USDT	+0.0476%	4h	0.01896	+0.158%	$1.8M	$304K	20x	as long as short
Bybit PIPPINUSDT	+0.0486%	4h	0.01898	+0.264%	$3.6M	$1.4M	13x	as long as short
KuCoin PIPPINUSDTM	+0.0498%	4h	0.01897	+0.211%	$2.1M	$3.6M	25x	as long as short