PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1817%/8h= +199.0% APRnext payment +$9.08 per $10,000 · paid last 24h +0.067%

Price spread now: BingX against OKX−0.208%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$890.892% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.530%+$53 on $10k

Price spread, last 7 days+0.246%+$25 · spread now −0.208%, 7d avg −0.004%

Together, before fees+0.777%+$78 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.204% cheaper against OKX than usual: you would sell low and buy high (spread −0.208% now, against its 7-day average of −0.004%). If the spread goes back, that is −$20 on $10k: about 9 hours of funding at the current rate (+$55 a day). At the pace of the last 7 days (+0.530% in total) that is about 2.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.530% in total (about 27.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$9.08 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	OKX PIPPIN-USDT-SWAP	0.01926	0.0109	pay 0.0055% / 4h	3h 04m	$1.6M	$3.2M	20x
Short	BingX PIPPIN-USDT	0.01922	0.1926	get 0.0963% / 4h	3h 04m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now −0.208%Rate

Funding earned: $381.57
Price spread: −0.208% → −0.004%: −$20.38
Slippage, 4 orders: −$69.22
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $271.96
Costs to cover: 0.892%
Break-even: 2.0 days

Slippage from OKX: live order book, 3 min ago; BingX: live order book, 12 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 OKX live order book, 3 min ago	5.21 bp	26.6 bp −$27	147.3 bp −$1,473	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	7.83 bp	24.8 bp −$25	116.6 bp −$1,166	581.3 bp −$58.1K	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	0.01921	−0.245%	$112K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01924	−0.104%	$18K	$9K	3x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01925	−0.052%	$849	$9.9M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01895	−1.610%	$34K	$15K	20x	as long as short
OKX PIPPIN-USDT-SWAPlong	+0.0109%	4h	0.01926	long leg	$1.6M	$3.2M	20x
MEXC PIPPIN_USDT	+0.0196%	4h	0.01923	−0.156%	$2.5M	$763K	50x	as long as short
Binance PIPPINUSDT	+0.0196%	4h	0.01923	−0.156%	$5.4M	$4.7M	25x	as long as short
BloFin PIPPIN-USDT	+0.0207%	4h	0.01924	−0.104%	$218K	$28K	25x	as long as short
Bybit PIPPINUSDT	+0.0342%	4h	0.01924	−0.104%	$3.7M	$1.4M	13x	as long as short
Gate PIPPIN_USDT	+0.1020%	4h	0.01922	−0.208%	$1.8M	$304K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.1832%	4h	0.01926	0.000%	$2.1M	$4.3M	25x	as long as short
BingX PIPPIN-USDTshort	+0.1926%	4h	0.01922	−0.208%	—	$1.3M	—
Bitget PIPPINUSDT	+0.2240%	4h	0.01922	−0.208%	$1.6M	$327K	10x	as long as short