Funding arb · Price arb /

PIPPIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.029%

Price spread now: BloFin against Pacifica−0.053%7-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 BloFin

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 pays, the price is against you. BloFin is 0.053% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 4.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PIPPIN	0.01903	0.0100	pay 0.0013% / 1h	17m 08s	$18K	$9K	3x
Short	BloFin PIPPIN-USDT	0.01902	0.0144	get 0.0072% / 4h	17m 08s	$252K	$24K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.053%Rate

Funding earned: $9.16
Price spread: −0.053% → 0.000%: −$5.25
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$16.09
Costs to cover: 0.200%
Break-even: 19.3 days

Slippage unknown: Pacifica: no order-book sample; BloFin: live order book, 14 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 BloFin live order book, 14 min ago	7.90 bp	28.6 bp −$29	98.3 bp −$983	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	0.01902	−0.074%	$111K	$33K	5x	as long as short
Pacifica PIPPINlong	+0.0100%	1h	0.01903	long leg	$18K	$9K	3x
Binance PIPPINUSDT	+0.0100%	4h	0.01904	+0.065%	$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	0.01908	+0.263%	$1K	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01888	−0.788%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDTshort	+0.0144%	4h	0.01902	−0.053%	$252K	$24K	25x
Bybit PIPPINUSDT	+0.0202%	4h	0.01906	+0.158%	$3.6M	$1.4M	13x	as long as short
Gate PIPPIN_USDT	+0.0224%	4h	0.01901	−0.105%	$1.8M	$309K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0237%	4h	0.01905	+0.105%	$1.5M	$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	+0.0554%	4h	0.01899	−0.210%	—	$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	+0.0720%	4h	0.01903	0.000%	$2.1M	$5.1M	25x	as long as short