PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0191%/8h= +20.9% APRnext payment +$0.96 per $10,000 · paid last 24h +0.050%

Price spread now: Bybit against SunX−0.104%46s7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1601.602% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.268%+$27 on $10k

Price spread, last 4 days (all we have)+0.137%+$14 · spread now −0.104%, 7d avg +0.037%

Together, before fees+0.405%+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.141% cheaper against SunX than usual: you would sell low and buy high (spread −0.104% now, against its 7-day average of +0.037%). If the spread goes back, that is −$14 on $10k: about 2.5 days of funding at the current rate (+$6 a day). The two prices were read 46 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	SunX PIPPIN-USDT	0.01918	0.0100	pay 0.0050% / 4h	1h 02m	$2K	$10.4M	20x
Short	Bybit PIPPINUSDT	0.01916	0.0291	get 0.0146% / 4h	1h 02m	$3.7M	$1.5M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.104%Rate

Funding earned: $40.14
Price spread: −0.104% → +0.037%: −$14.14
Slippage, 4 orders: −$141.19
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$134.19
Costs to cover: 1.602%
Break-even: 30.4 days

Slippage from SunX: live order book, 7 min ago; Bybit: live order book, 5 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, 7 min ago	18.24 bp	62.5 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.60 bp	24.8 bp −$25	208.6 bp −$2,086	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	0.01912	−0.312%	$112K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01915	−0.146%	$18K	$6K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01915	−0.156%	$5.4M	$5.3M	25x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01915	−0.156%	$2.7M	$765K	50x	as long as short
SunX PIPPIN-USDTlong	+0.0100%	4h	0.01918	long leg	$2K	$10.4M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01912	−0.313%	$35K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0115%	4h	0.01917	−0.052%	$256K	$27K	25x	as long as short
Gate PIPPIN_USDT	+0.0268%	4h	0.01913	−0.261%	$1.8M	$329K	20x	as long as short
Bybit PIPPINUSDTshort	+0.0291%	4h	0.01916	−0.104%	$3.7M	$1.5M	13x
OKX PIPPIN-USDT-SWAP	+0.0302%	4h	0.01914	−0.209%	$1.5M	$3.5M	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	+0.0818%	4h	0.01920	+0.104%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.0842%	4h	0.01917	−0.052%	$1.6M	$320K	10x	as long as short
KuCoin PIPPINUSDTM	+0.0964%	4h	0.01915	−0.156%	$2.1M	$6.1M	25x	as long as short