Funding you earn now, next payment 08:00 UTC−0.0104%/8h= −11.3% APRnext payment −$0.52 per $10,000 · paid last 24h −0.075%
Price spread now: Bybit against BingX−0.104%7-day average +0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$187as in the Funding arb table
Net, price: spread back to 7d avg − costs−$120as in the Price arb table
costs, in and out, $10k−$1051.049% of the position
Funding, last 7 days−0.823%−$82 on $10k
+Price spread, last 7 days+0.133%+$13 · spread now −0.104%, 7d avg +0.051%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.155% cheaper against BingX than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.051%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX PIPPIN-USDT | 0.01923 | 0.0886 | pay 0.0443% / 4h | 2h 13m | — | $1.3M | — |
| Short | Bybit PIPPINUSDT | 0.01921 | 0.0782 | get 0.0391% / 4h | 2h 13m | $3.7M | $1.5M | 13x |
BingX PIPPIN-USDT
Bybit PIPPINUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BingX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$21.74
- Price spread: −0.104% → +0.051%
- −$15.46
- Slippage, 4 orders
- −$83.89
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$142.09
- Costs to cover
- 1.049%
- Break-even
- never at this rate
Slippage from BingX: live order book, 3 min ago; Bybit: live order book, 4 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 BingX live order book, 3 min ago | 2.61 bp | 18.1 bp −$18 | 186.7 bp −$1,867 | 734.9 bp −$73.5K | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.61 bp | 23.9 bp −$24 | 183.7 bp −$1,837 | 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 | 0.01915 | −0.421% | $112K | $34K | 5x | as long as short |
| Pacifica PIPPIN | +0.0100% | 1h | 0.01916 | −0.364% | $18K | $9K | 3x | as long as short |
| Binance PIPPINUSDT | +0.0100% | 4h | 0.01920 | −0.156% | $5.5M | $5.2M | 25x | as long as short |
| MEXC PIPPIN_USDT | +0.0100% | 4h | 0.01920 | −0.156% | $2.6M | $750K | 50x | as long as short |
| SunX PIPPIN-USDT | +0.0100% | 4h | 0.01919 | −0.208% | $2K | $10.4M | 20x | as long as short |
| HTX PIPPIN-USDT | +0.0100% | 4h | 0.01905 | −0.936% | $34K | $14K | 20x | as long as short |
| BloFin PIPPIN-USDT | +0.0109% | 4h | 0.01916 | −0.364% | $255K | $27K | 25x | as long as short |
| Gate PIPPIN_USDT | +0.0380% | 4h | 0.01915 | −0.416% | $1.8M | $324K | 20x | as long as short |
| OKX PIPPIN-USDT-SWAP | +0.0410% | 4h | 0.01920 | −0.156% | $1.6M | $3.5M | 20x | as long as short |
| Bybit PIPPINUSDTshort | +0.0782% | 4h | 0.01921 | −0.104% | $3.7M | $1.5M | 13x |
Aster PIPPINUSDT
Pacifica PIPPIN
Binance PIPPINUSDT
MEXC PIPPIN_USDT
SunX PIPPIN-USDT
HTX PIPPIN-USDT
BloFin PIPPIN-USDT
Gate PIPPIN_USDT
OKX PIPPIN-USDT-SWAPShow all 13 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PIPPINUSDT | +0.0858% | 4h | 0.01920 | −0.156% | $1.6M | $320K | 10x | as long as short |
| BingX PIPPIN-USDTlong | +0.0886% | 4h | 0.01923 | long leg | — | $1.3M | — | |
| KuCoin PIPPINUSDTM | +0.1098% | 4h | 0.01918 | −0.260% | $2.1M | $5.8M | 25x | as long as short |
Bitget PIPPINUSDT
KuCoin PIPPINUSDTM