PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.06 per $10,000 · paid last 24h −0.010%

Price spread now: BloFin against Binance−0.053%101s7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as 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−$830.826% of the position

Long on Binance Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 4 days (all we have)+0.326%+$33 · spread now −0.053%, 7d avg +0.046%

Together, before fees+0.301%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and BloFin is 0.098% cheaper against Binance than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.046%). Swap the legs. The two prices were read 101 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	Binance PIPPINUSDT	0.01892	0.0100	pay 0.0050% / 4h	1h 03m	$5.4M	$4.8M	25x
Short	BloFin PIPPIN-USDT	0.01891	0.0089	get 0.0044% / 4h	1h 03m	$251K	$25K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Binance. 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 BinancebpFee BloFinbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$2.39
Price spread: −0.053% → +0.046%: −$9.84
Slippage, 4 orders: −$60.63
Fee Binance: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$94.86
Costs to cover: 0.826%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; BloFin: live order book, 35 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 Binance live order book, 4 min ago	2.63 bp	22.0 bp −$22	241.5 bp −$2,415	doesn't fit	doesn't fit
Sell BloFin live order book, 35 min ago	2.64 bp	14.8 bp −$15	62.1 bp −$621	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
Pacifica PIPPIN	−0.0778%	1h	0.01891	−0.074%	$18K	$9K	3x	as long as short
BloFin PIPPIN-USDTshort	+0.0089%	4h	0.01891	−0.053%	$251K	$25K	25x
Aster PIPPINUSDT	+0.0100%	4h	0.01898	+0.305%	$110K	$33K	5x	as long as short
Binance PIPPINUSDTlong	+0.0100%	4h	0.01892	long leg	$5.4M	$4.8M	25x
MEXC PIPPIN_USDT	+0.0100%	4h	0.01890	−0.106%	$2.4M	$730K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01889	−0.159%	$2K	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01882	−0.529%	$34K	$14K	20x	as long as short
Bybit PIPPINUSDT	+0.0100%	4h	0.01894	+0.106%	$3.6M	$1.4M	13x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0218%	4h	0.01890	−0.106%	$1.5M	$3.2M	20x	as long as short
Gate PIPPIN_USDT	+0.0350%	4h	0.01890	−0.106%	$1.8M	$305K	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	+0.1138%	4h	0.01890	−0.106%	$2.1M	$4.9M	25x	as long as short
Bitget PIPPINUSDT	+0.1358%	4h	0.01893	+0.053%	$1.6M	$320K	10x	as long as short
BingX PIPPIN-USDT	+0.1404%	4h	0.01896	+0.211%	—	$1.3M	—	as long as short