PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0806%/8h= +88.3% APRnext payment +$4.03 per $10,000 · paid last 24h +0.097%

Price spread now: Gate against SunX−0.158%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$864as in the Funding arb table

Net, price: spread back to 7d avg − costs−$898as in the Price arb table

costs, in and out, $10k−$8928.918% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.274%+$27 on $10k

Price spread, last 3 days (all we have)+0.049%+$5 · spread now −0.158%, 7d avg −0.094%

Together, before fees+0.323%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.064% cheaper against SunX than usual: you would sell low and buy high (spread −0.158% now, against its 7-day average of −0.094%). If the spread goes back, that is −$6 on $10k: about 6 hours of funding at the current rate (+$24 a day). At the pace of the last 7 days (+0.274% in total) that is about 39 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.274% in total (about 14.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.03 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PIPPIN-USDT	0.01895	0.0100	pay 0.0050% / 4h	2h 06m	$2K	$9.7M	20x
Short	Gate PIPPIN_USDT	0.01892	0.0906	get 0.0453% / 4h	2h 06m	$1.8M	$306K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.158%Rate

Funding earned: $169.26
Price spread: −0.158% → −0.094%: −$6.43
Slippage, 4 orders: −$868.79
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$728.96
Costs to cover: 8.918%
Break-even: 37.1 days

Slippage from SunX: live order book, 12 min ago; Gate: live order book, 1 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	18.39 bp	65.0 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	5.28 bp	523.2 bp −$523	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
Bitget PIPPINUSDT	+0.0100%	4h	0.01898	+0.158%	$1.6M	$349K	10x	as long as short
SunX PIPPIN-USDTlong	+0.0100%	4h	0.01895	long leg	$2K	$9.7M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01885	−0.528%	$34K	$16K	20x	as long as short
Pacifica PIPPIN	+0.0134%	1h	0.01892	−0.158%	$18K	$9K	3x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0156%	4h	0.01891	−0.211%	$1.6M	$3.2M	20x	as long as short
Aster PIPPINUSDT	+0.0259%	4h	0.01892	−0.160%	$110K	$32K	5x	as long as short
KuCoin PIPPINUSDTM	+0.0322%	4h	0.01894	−0.053%	$2.1M	$3.3M	25x	as long as short
BloFin PIPPIN-USDT	+0.0387%	4h	0.01893	−0.106%	$250K	$27K	25x	as long as short
Binance PIPPINUSDT	+0.0443%	4h	0.01891	−0.221%	$5.3M	$4.6M	25x	as long as short
MEXC PIPPIN_USDT	+0.0450%	4h	0.01891	−0.211%	$2.6M	$779K	50x	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	+0.0690%	4h	0.01892	−0.158%	—	$1.3M	—	as long as short
Bybit PIPPINUSDT	+0.0699%	4h	0.01893	−0.106%	$3.6M	$1.3M	13x	as long as short
Gate PIPPIN_USDTshort	+0.0906%	4h	0.01892	−0.158%	$1.8M	$306K	20x