Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0325%/8h= −35.6% APRpaid last 24h +0.030%

Price spread now: Pacifica against Bybit−0.032%7-day average — · you buy dearer than you sell

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

Long on Bybit 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

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Pacifica is 0.032% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PIPPINUSDT	0.01898	0.0425	pay 0.0212% / 4h	23m 54s	$3.7M	$1.4M	13x
Short	Pacifica PIPPIN	0.01897	0.0100	get 0.0013% / 1h	23m 54s	$18K	$9K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.032%Rate

Funding earned: −$68.24
Price spread: −0.032% → 0.000%: −$3.16
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$90.4
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: 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 Bybit live order book, 4 min ago	2.63 bp	19.9 bp −$20	108.5 bp −$1,085	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	0.01898	−0.024%	$110K	$34K	5x	as long as short
Pacifica PIPPINshort	+0.0100%	1h	0.01897	−0.032%	$18K	$9K	3x
Binance PIPPINUSDT	+0.0100%	4h	0.01896	−0.105%	$5.3M	$4.6M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01896	−0.105%	$1.5M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01896	−0.105%	$2.4M	$764K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01898	0.000%	$338	$9.8M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01892	−0.316%	$34K	$16K	20x	as long as short
BloFin PIPPIN-USDT	+0.0141%	4h	0.01900	+0.105%	$251K	$28K	25x	as long as short
Gate PIPPIN_USDT	+0.0404%	4h	0.01898	0.000%	$1.8M	$305K	20x	as long as short
Bybit PIPPINUSDTlong	+0.0425%	4h	0.01898	long leg	$3.7M	$1.4M	13x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDT	+0.0654%	4h	0.01897	−0.053%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.0700%	4h	0.01898	0.000%	$1.6M	$334K	10x	as long as short
KuCoin PIPPINUSDTM	+0.0846%	4h	0.01898	0.000%	$2.1M	$3.8M	25x	as long as short