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: SunX against Aster+0.252%7-day average +0.111% · 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−$141as in the Price arb table

costs, in and out, $10k−$1551.548% of the position

Long on Aster Short on SunX

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)−0.077%−$8 · spread now +0.252%, 7d avg +0.111%

Together, before fees−0.437%+ Points / potential airdropAster: Stage 5 · farm board−$44 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: SunX is 0.141% dearer against Aster than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PIPPINUSDT	0.01891	0.0100	pay 0.0050% / 4h	1h 14m	$110K	$34K	5x
Short	SunX PIPPIN-USDT	0.01896	0.0100	get 0.0050% / 4h	1h 14m	$2K	$9.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.252%Rate

Funding earned: $0
Price spread: +0.252% → +0.111%: $14.15
Slippage, 4 orders: −$138.77
Fee Aster: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$140.62
Costs to cover: 1.548%
Break-even: never at this rate

Slippage from Aster: live order book, 1 min ago; SunX: 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 Aster live order book, 1 min ago	5.28 bp	16.4 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	18.48 bp	60.0 bp −$60	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 PIPPINUSDTlong	+0.0100%	4h	0.01891	long leg	$110K	$34K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01895	+0.199%	$18K	$9K	3x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01896	+0.252%	$1.6M	$337K	10x	as long as short
SunX PIPPIN-USDTshort	+0.0100%	4h	0.01896	+0.252%	$2K	$9.8M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01884	−0.382%	$34K	$16K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0109%	4h	0.01895	+0.199%	$1.6M	$3.3M	20x	as long as short
Binance PIPPINUSDT	+0.0155%	4h	0.01893	+0.093%	$5.3M	$4.6M	25x	as long as short
MEXC PIPPIN_USDT	+0.0164%	4h	0.01893	+0.093%	$2.6M	$750K	50x	as long as short
BloFin PIPPIN-USDT	+0.0173%	4h	0.01894	+0.146%	$250K	$27K	25x	as long as short
Gate PIPPIN_USDT	+0.0506%	4h	0.01894	+0.146%	$1.8M	$304K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.0520%	4h	0.01896	+0.252%	$2.1M	$3.5M	25x	as long as short
Bybit PIPPINUSDT	+0.0533%	4h	0.01896	+0.252%	$3.6M	$1.4M	13x	as long as short
BingX PIPPIN-USDT	+0.0580%	4h	0.01895	+0.199%	—	$1.3M	—	as long as short