Funding you earn now, next payment 04:00 UTC−0.1834%/8h= −200.8% APRnext payment −$9.17 per $10,000 · paid last 24h −0.066%
Price spread now: OKX against BingX−0.052%7-day average +0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$147as in the Funding arb table
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$940.936% of the position
Funding, last 7 days−0.530%−$53 on $10k
+Price spread, last 7 days+0.033%+$3 · spread now −0.052%, 7d avg +0.004%
=Both sides work against this trade now: funding costs −$55 a day on $10k at the current rate, and OKX is 0.056% cheaper against BingX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.004%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.530% in total (about -27.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$9.17 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX PIPPIN-USDT | 0.01905 | 0.1934 | pay 0.0967% / 4h | 1h 52m | — | $1.3M | — |
| Short | OKX PIPPIN-USDT-SWAP | 0.01904 | 0.0100 | get 0.0050% / 4h | 1h 52m | $1.6M | $3.2M | 20x |
BingX PIPPIN-USDT
OKX PIPPIN-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$385.14
- Price spread: −0.052% → +0.004%
- −$5.61
- Slippage, 4 orders
- −$73.64
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$484.39
- Costs to cover
- 0.936%
- Break-even
- never at this rate
Slippage from BingX: live order book, 9 min ago; OKX: 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 BingX live order book, 9 min ago | 10.47 bp | 22.9 bp −$23 | 119.4 bp −$1,194 | 743.0 bp −$74.3K | doesn't fit |
| Sell OKX live order book, 5 min ago | 5.25 bp | 23.8 bp −$24 | 144.2 bp −$1,442 | doesn't fit | doesn't fit |
PIPPIN on 12 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 | 0.01903 | −0.115% | $18K | $9K | 3x | as long as short |
| Aster PIPPINUSDT | −0.0017% | 4h | 0.01903 | −0.105% | $111K | $33K | 5x | as long as short |
| Binance PIPPINUSDT | +0.0100% | 4h | 0.01903 | −0.100% | $5.4M | $4.8M | 25x | as long as short |
| Bybit PIPPINUSDT | +0.0100% | 4h | 0.01903 | −0.105% | $3.6M | $1.4M | 13x | as long as short |
| OKX PIPPIN-USDT-SWAPshort | +0.0100% | 4h | 0.01904 | −0.052% | $1.6M | $3.2M | 20x | |
| Gate PIPPIN_USDT | +0.0100% | 4h | 0.01903 | −0.105% | $1.8M | $301K | 20x | as long as short |
| MEXC PIPPIN_USDT | +0.0100% | 4h | 0.01903 | −0.105% | $2.4M | $724K | 50x | as long as short |
| SunX PIPPIN-USDT | +0.0100% | 4h | 0.01901 | −0.210% | $2K | $10.1M | 20x | as long as short |
| HTX PIPPIN-USDT | +0.0100% | 4h | 0.01895 | −0.525% | $34K | $13K | 20x | as long as short |
| KuCoin PIPPINUSDTM | +0.1528% | 4h | 0.01905 | 0.000% | $2.1M | $4.7M | 25x | as long as short |
Pacifica PIPPIN
Aster PIPPINUSDT
Binance PIPPINUSDT
Bybit PIPPINUSDT
Gate PIPPIN_USDT
MEXC PIPPIN_USDT
SunX PIPPIN-USDT
HTX PIPPIN-USDT
KuCoin PIPPINUSDTMShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PIPPINUSDT | +0.1926% | 4h | 0.01905 | 0.000% | $1.6M | $325K | 10x | as long as short |
| BingX PIPPIN-USDTlong | +0.1934% | 4h | 0.01905 | long leg | — | $1.3M | — |
Bitget PIPPINUSDT