Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: Bitget against Pacifica−0.258%52s7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on Bitget

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.258% cheaper against Pacifica than usual: you would sell low and buy high, −$26 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PIPPIN	0.01901	0.0100	pay 0.0013% / 1h	27m 55s	$18K	$9K	3x
Short	Bitget PIPPINUSDT	0.01896	0.0100	get 0.0050% / 4h	1h 27m	$1.6M	$338K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Pacifica. 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 PacificabpFee BitgetbpOrdersPrice spread, now −0.258%Rate

Funding earned: $0
Price spread: −0.258% → 0.000%: −$25.78
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$45.78
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; Bitget: live order book, 4 min ago. 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 Pacifica no order-book sample	—	—	—	—	—
Sell Bitget live order book, 4 min ago	7.91 bp	25.8 bp −$26	215.7 bp −$2,157	doesn't fit	doesn't fit

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	0.01897	−0.197%	$110K	$34K	5x	as long as short
Pacifica PIPPINlong	+0.0100%	1h	0.01901	long leg	$18K	$9K	3x
Bitget PIPPINUSDTshort	+0.0100%	4h	0.01896	−0.258%	$1.6M	$338K	10x
SunX PIPPIN-USDT	+0.0100%	4h	0.01904	+0.163%	$2K	$9.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01886	−0.784%	$34K	$16K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0155%	4h	0.01895	−0.310%	$1.6M	$3.3M	20x	as long as short
MEXC PIPPIN_USDT	+0.0304%	4h	0.01896	−0.258%	$2.6M	$749K	50x	as long as short
Binance PIPPINUSDT	+0.0306%	4h	0.01896	−0.262%	$5.3M	$4.6M	25x	as long as short
BloFin PIPPIN-USDT	+0.0315%	4h	0.01896	−0.258%	$251K	$27K	25x	as long as short
KuCoin PIPPINUSDTM	+0.0522%	4h	0.01896	−0.258%	$2.1M	$3.4M	25x	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	+0.0596%	4h	0.01894	−0.363%	—	$1.3M	—	as long as short
Bybit PIPPINUSDT	+0.0659%	4h	0.01896	−0.258%	$3.6M	$1.4M	13x	as long as short
Gate PIPPIN_USDT	+0.0666%	4h	0.01895	−0.310%	$1.8M	$303K	20x	as long as short