PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0233%/8h= −25.5% APRnext payment −$1.17 per $10,000 · paid last 24h −0.070%

Price spread now: SunX against BloFin+0.053%55s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$204as 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−$1631.635% of the position

Long on BloFin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.400%−$40 on $10k

Price spread, last 3 days (all we have)−0.143%−$14 · spread now +0.053%, 7d avg +0.027%

Together, before fees−0.544%−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.025% dearer against BloFin than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of +0.027%): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 9 hours. The two prices were read 55 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	0.01896	0.0333	pay 0.0167% / 4h	1h 23m	$251K	$27K	25x
Short	SunX PIPPIN-USDT	0.01897	0.0100	get 0.0050% / 4h	1h 23m	$2K	$9.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$48.98
Price spread: +0.053% → +0.027%: $2.55
Slippage, 4 orders: −$143.46
Fee BloFin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$209.89
Costs to cover: 1.635%
Break-even: never at this rate

Slippage from BloFin: live order book, 52 min ago; SunX: live order book, 5 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, 52 min ago	2.63 bp	12.0 bp −$12	81.2 bp −$812	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	18.41 bp	68.2 bp −$68	doesn't fit	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	0.01896	+0.021%	$110K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01898	+0.132%	$18K	$9K	3x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01896	0.000%	$1.6M	$338K	10x	as long as short
SunX PIPPIN-USDTshort	+0.0100%	4h	0.01897	+0.053%	$2K	$9.8M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01888	−0.422%	$34K	$16K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0153%	4h	0.01896	0.000%	$1.6M	$3.3M	20x	as long as short
Binance PIPPINUSDT	+0.0273%	4h	0.01895	−0.053%	$5.3M	$4.6M	25x	as long as short
MEXC PIPPIN_USDT	+0.0286%	4h	0.01895	−0.053%	$2.6M	$749K	50x	as long as short
BloFin PIPPIN-USDTlong	+0.0333%	4h	0.01896	long leg	$251K	$27K	25x
KuCoin PIPPINUSDTM	+0.0542%	4h	0.01897	+0.053%	$2.1M	$3.4M	25x	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	+0.0584%	4h	0.01895	−0.053%	—	$1.3M	—	as long as short
Gate PIPPIN_USDT	+0.0616%	4h	0.01897	+0.053%	$1.8M	$303K	20x	as long as short
Bybit PIPPINUSDT	+0.0676%	4h	0.01897	+0.053%	$3.6M	$1.4M	13x	as long as short