PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0888%/8h= −97.2% APRnext payment −$4.44 per $10,000 · paid last 24h −0.033%

Price spread now: Gate against BingX+0.157%7-day average −0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$770as in the Funding arb table

Net, price: spread back to 7d avg − costs−$669as in the Price arb table

costs, in and out, $10k−$6926.922% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.783%−$78 on $10k

Price spread, last 7 days−0.195%−$20 · spread now +0.157%, 7d avg −0.073%

Together, before fees−0.978%−$98 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.230% dearer against BingX than usual: you sell high and buy low (spread +0.157% now, against its 7-day average of −0.073%): +$23 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.783% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PIPPIN-USDT	0.01916	0.1926	pay 0.0963% / 4h	3h 06m	—	$1.3M	—
Short	Gate PIPPIN_USDT	0.01919	0.1038	get 0.0519% / 4h	3h 06m	$1.8M	$304K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now +0.157%Rate

Funding earned: −$186.48
Price spread: +0.157% → −0.073%: $22.97
Slippage, 4 orders: −$667.18
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$855.69
Costs to cover: 6.922%
Break-even: never at this rate

Slippage from BingX: live order book, 10 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 BingX live order book, 10 min ago	7.83 bp	19.8 bp −$20	183.9 bp −$1,839	710.6 bp −$71.1K	doesn't fit
Sell Gate live order book, 1 min ago	2.61 bp	509.7 bp −$510	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 PIPPINUSDT	+0.0100%	4h	0.01916	+0.002%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01919	+0.157%	$18K	$9K	3x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01919	+0.157%	$1.6M	$3.2M	20x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01921	+0.261%	$2K	$9.9M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01895	−1.096%	$34K	$15K	20x	as long as short
BloFin PIPPIN-USDT	+0.0174%	4h	0.01922	+0.313%	$253K	$28K	25x	as long as short
MEXC PIPPIN_USDT	+0.0190%	4h	0.01919	+0.157%	$2.5M	$763K	50x	as long as short
Binance PIPPINUSDT	+0.0198%	4h	0.01918	+0.104%	$5.4M	$4.7M	25x	as long as short
Bybit PIPPINUSDT	+0.0248%	4h	0.01920	+0.209%	$3.7M	$1.4M	13x	as long as short
Gate PIPPIN_USDTshort	+0.1038%	4h	0.01919	+0.157%	$1.8M	$304K	20x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.1820%	4h	0.01920	+0.209%	$2.1M	$4.3M	25x	as long as short
BingX PIPPIN-USDTlong	+0.1926%	4h	0.01916	long leg	—	$1.3M	—
Bitget PIPPINUSDT	+0.2160%	4h	0.01918	+0.104%	$1.6M	$327K	10x	as long as short