PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0145%/8h= −15.9% APRnext payment −$0.73 per $10,000 · paid last 24h −0.024%

Price spread now: SunX against Bybit−0.105%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$202as in the Funding arb table

Net, price: spread back to 7d avg − costs−$185as in the Price arb table

costs, in and out, $10k−$1781.780% of the position

Long on Bybit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.243%−$24 on $10k

Price spread, last 3 days (all we have)−0.004%$0 · spread now −0.105%, 7d avg −0.035%

Together, before fees−0.247%−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and SunX is 0.069% cheaper against Bybit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PIPPINUSDT	0.01913	0.0245	pay 0.0123% / 4h	3h 31m	$3.7M	$1.3M	13x
Short	SunX PIPPIN-USDT	0.01911	0.0100	get 0.0050% / 4h	3h 31m	$2K	$9.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$30.51
Price spread: −0.105% → −0.035%: −$6.95
Slippage, 4 orders: −$159.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$215.48
Costs to cover: 1.780%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; SunX: live order book, 9 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, 2 min ago	5.23 bp	21.7 bp −$22	475.1 bp −$4,751	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	18.39 bp	74.0 bp −$74	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	0.01903	−0.539%	$111K	$32K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01908	−0.261%	$18K	$9K	3x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01909	−0.209%	$2.6M	$755K	50x	as long as short
KuCoin PIPPINUSDTM	+0.0100%	4h	0.01911	−0.105%	$2.1M	$3.5M	25x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01911	−0.105%	$1.6M	$351K	10x	as long as short
SunX PIPPIN-USDTshort	+0.0100%	4h	0.01911	−0.105%	$2K	$9.7M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01895	−0.941%	$34K	$15K	20x	as long as short
Binance PIPPINUSDT	+0.0128%	4h	0.01909	−0.209%	$5.4M	$4.6M	25x	as long as short
BloFin PIPPIN-USDT	+0.0157%	4h	0.01909	−0.209%	$251K	$25K	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0175%	4h	0.01912	−0.052%	$1.6M	$3.3M	20x	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	+0.0245%	4h	0.01910	−0.157%	—	$1.3M	—	as long as short
Bybit PIPPINUSDTlong	+0.0245%	4h	0.01913	long leg	$3.7M	$1.3M	13x
Gate PIPPIN_USDT	+0.1606%	4h	0.01911	−0.105%	$1.8M	$306K	20x	as long as short