PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0043%/8h= −4.7% APRnext payment −$0.21 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against OKX+0.105%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$1071.065% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 7 days−0.057%−$6 · spread now +0.105%, 7d avg +0.046%

Together, before fees−0.334%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.059% dearer against OKX than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of +0.046%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.6 days. At the pace of the last 7 days (−0.277% in total) that is about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PIPPIN-USDT-SWAP	0.01903	0.0239	pay 0.0120% / 4h	14m 57s	$1.5M	$3.3M	20x
Short	Bybit PIPPINUSDT	0.01905	0.0196	get 0.0098% / 4h	14m 57s	$3.6M	$1.4M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.105%Rate

Funding earned: −$9.02
Price spread: +0.105% → +0.046%: $5.86
Slippage, 4 orders: −$85.51
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$109.66
Costs to cover: 1.065%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bybit: 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 OKX live order book, 2 min ago	5.25 bp	21.6 bp −$22	179.3 bp −$1,793	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.62 bp	27.6 bp −$28	196.3 bp −$1,963	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	−0.026%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01903	0.000%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01904	+0.028%	$5.4M	$4.9M	25x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01903	0.000%	$2.4M	$731K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01907	+0.210%	$2K	$10.2M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01890	−0.683%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0110%	4h	0.01901	−0.105%	$252K	$24K	25x	as long as short
Bybit PIPPINUSDTshort	+0.0196%	4h	0.01905	+0.105%	$3.6M	$1.4M	13x
Gate PIPPIN_USDT	+0.0220%	4h	0.01903	0.000%	$1.8M	$310K	20x	as long as short
OKX PIPPIN-USDT-SWAPlong	+0.0239%	4h	0.01903	long leg	$1.5M	$3.3M	20x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDT	+0.0554%	4h	0.01897	−0.315%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.0584%	4h	0.01903	0.000%	$1.6M	$313K	10x	as long as short
KuCoin PIPPINUSDTM	+0.0732%	4h	0.01904	+0.053%	$2.1M	$5.2M	25x	as long as short