PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0250%/8h= −27.4% APRnext payment −$1.25 per $10,000 · paid last 24h −0.197%

Price spread now: Bybit against KuCoin−0.052%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$188as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1211.206% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.678%−$68 on $10k

Price spread, last 7 days+0.072%+$7 · spread now −0.052%, 7d avg +0.064%

Together, before fees−0.606%−$61 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.116% cheaper against KuCoin than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.064%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PIPPINUSDTM	0.01905	0.0886	pay 0.0443% / 4h	41m 18s	$2.1M	$3.7M	25x
Short	Bybit PIPPINUSDT	0.01904	0.0636	get 0.0318% / 4h	41m 18s	$3.7M	$1.4M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$52.55
Price spread: −0.052% → +0.064%: −$11.64
Slippage, 4 orders: −$97.61
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$184.79
Costs to cover: 1.206%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Bybit: live order book, 1 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 KuCoin live order book, 6 min ago	5.24 bp	59.8 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.62 bp	17.0 bp −$17	103.3 bp −$1,033	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	0.01905	+0.004%	$111K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01903	−0.105%	$18K	$9K	3x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01905	0.000%	$745	$9.8M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01892	−0.682%	$34K	$16K	20x	as long as short
Binance PIPPINUSDT	+0.0103%	4h	0.01903	−0.131%	$5.3M	$4.6M	25x	as long as short
BloFin PIPPIN-USDT	+0.0103%	4h	0.01903	−0.105%	$249K	$28K	25x	as long as short
MEXC PIPPIN_USDT	+0.0118%	4h	0.01902	−0.157%	$2.5M	$757K	50x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0122%	4h	0.01902	−0.157%	$1.5M	$3.2M	20x	as long as short
Gate PIPPIN_USDT	+0.0554%	4h	0.01905	0.000%	$1.8M	$305K	20x	as long as short
Bybit PIPPINUSDTshort	+0.0636%	4h	0.01904	−0.052%	$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	+0.0652%	4h	0.01902	−0.157%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.0688%	4h	0.01905	0.000%	$1.6M	$333K	10x	as long as short
KuCoin PIPPINUSDTMlong	+0.0886%	4h	0.01905	long leg	$2.1M	$3.7M	25x