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 +0.089%

Price spread now: KuCoin against BingX+0.315%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$235as in the Funding arb table

Net, price: spread back to 7d avg − costs−$191as in the Price arb table

costs, in and out, $10k−$2242.240% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 7 days−0.286%−$29 · spread now +0.315%, 7d avg −0.011%

Together, before fees−0.399%−$40 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: KuCoin is 0.326% dearer against BingX than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PIPPIN-USDT	0.01905	0.0100	pay 0.0050% / 4h	3h 32m	—	$1.3M	—
Short	KuCoin PIPPINUSDTM	0.01911	0.0100	get 0.0050% / 4h	3h 32m	$2.1M	$3.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.315%Rate

Funding earned: $0
Price spread: +0.315% → −0.011%: $32.61
Slippage, 4 orders: −$201.96
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$191.35
Costs to cover: 2.240%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; KuCoin: live order book, 15 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, 7 min ago	2.63 bp	32.9 bp −$33	162.7 bp −$1,627	730.3 bp −$73.0K	doesn't fit
Sell KuCoin live order book, 15 min ago	5.27 bp	33.5 bp −$33	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	0.01903	−0.125%	$111K	$32K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01908	+0.157%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01909	+0.210%	$5.4M	$4.6M	25x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01909	+0.210%	$2.6M	$755K	50x	as long as short
KuCoin PIPPINUSDTMshort	+0.0100%	4h	0.01911	+0.315%	$2.1M	$3.5M	25x
Bitget PIPPINUSDT	+0.0100%	4h	0.01911	+0.315%	$1.6M	$354K	10x	as long as short
BingX PIPPIN-USDTlong	+0.0100%	4h	0.01905	long leg	—	$1.3M	—
SunX PIPPIN-USDT	+0.0100%	4h	0.01911	+0.315%	$499	$9.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01894	−0.577%	$34K	$15K	20x	as long as short
BloFin PIPPIN-USDT	+0.0129%	4h	0.01907	+0.105%	$252K	$25K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PIPPIN-USDT-SWAP	+0.0176%	4h	0.01912	+0.367%	$1.6M	$3.3M	20x	as long as short
Bybit PIPPINUSDT	+0.0248%	4h	0.01912	+0.367%	$3.7M	$1.3M	13x	as long as short
Gate PIPPIN_USDT	+0.1572%	4h	0.01912	+0.367%	$1.8M	$306K	20x	as long as short