PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0219%/8h= +24.0% APRnext payment +$1.10 per $10,000 · paid last 24h +0.037%

Price spread now: Gate against Bybit−0.157%7-day average −0.125% · you buy dearer than you sell

Net, funding: paid 7d − costs−$862as in the Funding arb table

Net, price: spread back to 7d avg − costs−$867as in the Price arb table

costs, in and out, $10k−$8648.642% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 7 days+0.089%+$9 · spread now −0.157%, 7d avg −0.125%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.032% cheaper against Bybit than usual: you would sell low and buy high (spread −0.157% now, against its 7-day average of −0.125%). If the spread goes back, that is −$3 on $10k: about 12 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.024% in total) that is about 9.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.024% in total (about 1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.10 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	Bybit PIPPINUSDT	0.01909	0.0207	pay 0.0103% / 4h	2h 44m	$3.7M	$1.4M	13x
Short	Gate PIPPIN_USDT	0.01906	0.0426	get 0.0213% / 4h	2h 44m	$1.8M	$301K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now −0.157%Rate

Funding earned: $46.07
Price spread: −0.157% → −0.125%: −$3.2
Slippage, 4 orders: −$838.25
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$821.39
Costs to cover: 8.642%
Break-even: 131.8 days

Slippage from Bybit: live order book, 3 min ago; Gate: live order book, 3 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 Bybit live order book, 3 min ago	2.62 bp	28.3 bp −$28	238.8 bp −$2,388	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	5.25 bp	615.1 bp −$615	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
BloFin PIPPIN-USDT	+0.0081%	4h	0.01904	−0.262%	$255K	$29K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01907	−0.119%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01906	−0.162%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01906	−0.157%	$5.4M	$4.8M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01908	−0.052%	$1.5M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01906	−0.157%	$2.4M	$741K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01907	−0.105%	$1K	$10.0M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01894	−0.786%	$34K	$15K	20x	as long as short
Bybit PIPPINUSDTlong	+0.0207%	4h	0.01909	long leg	$3.7M	$1.4M	13x
Gate PIPPIN_USDTshort	+0.0426%	4h	0.01906	−0.157%	$1.8M	$301K	20x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.1620%	4h	0.01906	−0.157%	$2.1M	$4.4M	25x	as long as short
BingX PIPPIN-USDT	+0.1950%	4h	0.01907	−0.105%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.2062%	4h	0.01902	−0.367%	$1.6M	$328K	10x	as long as short