Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.093%

Price spread now: Aster against SunX+0.144%7-day average −0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1601.599% of the position

Long on SunX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.360%+$36 on $10k

Price spread, last 3 days (all we have)−0.316%−$32 · spread now +0.144%, 7d avg −0.113%

Together, before fees+0.044%+ Points / potential airdropAster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.257% dearer against SunX than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of −0.113%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PIPPIN-USDT	0.01898	0.0100	pay 0.0050% / 4h	27m 10s	$1K	$9.8M	20x
Short	Aster PIPPINUSDT	0.01901	0.0100	get 0.0050% / 4h	27m 10s	$111K	$34K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against SunX. 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 SunXbpFee AsterbpOrdersPrice spread, now +0.144%Rate

Funding earned: $0
Price spread: +0.144% → −0.113%: $25.67
Slippage, 4 orders: −$143.87
Fee SunX: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$134.2
Costs to cover: 1.599%
Break-even: never at this rate

Slippage from SunX: live order book, 12 min ago; Aster: live order book, 48 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 SunX live order book, 12 min ago	18.41 bp	58.0 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 48 min ago	5.28 bp	15.2 bp −$15	doesn't fit	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 PIPPINUSDTshort	+0.0100%	4h	0.01901	+0.144%	$111K	$34K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01897	−0.047%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01902	+0.215%	$5.3M	$4.6M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01900	+0.105%	$1.5M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01900	+0.105%	$2.4M	$763K	50x	as long as short
SunX PIPPIN-USDTlong	+0.0100%	4h	0.01898	long leg	$1K	$9.8M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01892	−0.316%	$34K	$16K	20x	as long as short
BloFin PIPPIN-USDT	+0.0121%	4h	0.01898	0.000%	$250K	$28K	25x	as long as short
Gate PIPPIN_USDT	+0.0430%	4h	0.01900	+0.105%	$1.8M	$305K	20x	as long as short
Bybit PIPPINUSDT	+0.0456%	4h	0.01900	+0.105%	$3.7M	$1.4M	13x	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	+0.0654%	4h	0.01902	+0.211%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.0690%	4h	0.01899	+0.053%	$1.6M	$333K	10x	as long as short
KuCoin PIPPINUSDTM	+0.0844%	4h	0.01900	+0.105%	$2.1M	$3.8M	25x	as long as short