Funding arb · Price arb /

PIPPIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Aster+0.210%7-day average +0.145% · 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−$79as in the Price arb table

costs, in and out, $10k−$860.859% of the position

Long on Aster Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.084%−$8 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.210%, 7d avg +0.145%

Together, before fees−0.083%+ Points / potential airdropAster: Stage 5 · farm board−$8 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: Bybit is 0.065% dearer against Aster than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.145%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PIPPINUSDT	0.01903	0.0100	pay 0.0050% / 4h	3h 50m	$111K	$35K	5x
Short	Bybit PIPPINUSDT	0.01907	0.0100	get 0.0050% / 4h	3h 50m	$3.6M	$1.5M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aster. 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 AsterbpFee BybitbpOrdersPrice spread, now +0.210%Rate

Funding earned: $0
Price spread: +0.210% → +0.145%: $6.49
Slippage, 4 orders: −$66.94
Fee Aster: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$79.45
Costs to cover: 0.859%
Break-even: never at this rate

Slippage from Aster: live order book, 45 min ago; Bybit: live order book, 2 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 Aster live order book, 45 min ago	5.26 bp	16.3 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.62 bp	24.7 bp −$25	280.3 bp −$2,803	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 PIPPINUSDTlong	+0.0100%	4h	0.01903	long leg	$111K	$35K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01905	+0.105%	$18K	$5K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01905	+0.105%	$5.4M	$5.3M	25x	as long as short
Bybit PIPPINUSDTshort	+0.0100%	4h	0.01907	+0.210%	$3.6M	$1.5M	13x
MEXC PIPPIN_USDT	+0.0100%	4h	0.01905	+0.105%	$2.8M	$779K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01909	+0.315%	$328	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01901	−0.105%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0114%	4h	0.01907	+0.210%	$256K	$32K	25x	as long as short
Gate PIPPIN_USDT	+0.0136%	4h	0.01906	+0.158%	$1.8M	$319K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0150%	4h	0.01904	+0.053%	$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
Bitget PIPPINUSDT	+0.0222%	4h	0.01906	+0.158%	$1.6M	$328K	10x	as long as short
BingX PIPPIN-USDT	+0.0230%	4h	0.01908	+0.263%	—	$1.4M	—	as long as short
KuCoin PIPPINUSDTM	+0.0454%	4h	0.01907	+0.210%	$2.1M	$6.4M	25x	as long as short