Funding you earn now, next payment 12:00 UTC−0.0122%/8h= −13.4% APRnext payment −$0.61 per $10,000 · paid last 24h −0.021%
Price spread now: Bybit against Bitget−0.105%7-day average +0.095% · you buy dearer than you sell
Net, funding: paid 7d − costs−$136as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$1021.017% of the position
Funding, last 7 days−0.347%−$35 on $10k
+Price spread, last 7 days+0.144%+$14 · spread now −0.105%, 7d avg +0.095%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.200% cheaper against Bitget than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.095%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget PIPPINUSDT | 0.01906 | 0.0222 | pay 0.0111% / 4h | 3h 53m | $1.6M | $328K | 10x |
| Short | Bybit PIPPINUSDT | 0.01904 | 0.0100 | get 0.0050% / 4h | 3h 53m | $3.6M | $1.5M | 13x |
Bitget PIPPINUSDT
Bybit PIPPINUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Bitget. 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
- −$25.62
- Price spread: −0.105% → +0.095%
- −$20.04
- Slippage, 4 orders
- −$78.7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$147.36
- Costs to cover
- 1.017%
- Break-even
- never at this rate
Slippage from Bitget: 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 Bitget live order book, 3 min ago | 7.86 bp | 30.1 bp −$30 | 296.1 bp −$2,961 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.62 bp | 25.1 bp −$25 | 194.3 bp −$1,943 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin PIPPIN-USDT | +0.0100% | 4h | 0.01903 | −0.157% | $220K | $32K | 25x | as long as short |
| Aster PIPPINUSDT | +0.0100% | 4h | 0.01902 | −0.220% | $111K | $35K | 5x | as long as short |
| Pacifica PIPPIN | +0.0100% | 1h | 0.01902 | −0.210% | $18K | $5K | 3x | as long as short |
| Binance PIPPINUSDT | +0.0100% | 4h | 0.01905 | −0.052% | $5.4M | $5.3M | 25x | as long as short |
| Bybit PIPPINUSDTshort | +0.0100% | 4h | 0.01904 | −0.105% | $3.6M | $1.5M | 13x | |
| Gate PIPPIN_USDT | +0.0100% | 4h | 0.01901 | −0.262% | $1.8M | $319K | 20x | as long as short |
| MEXC PIPPIN_USDT | +0.0100% | 4h | 0.01905 | −0.052% | $2.8M | $779K | 50x | as long as short |
| SunX PIPPIN-USDT | +0.0100% | 4h | 0.01906 | 0.000% | $844 | $10.4M | 20x | as long as short |
| HTX PIPPIN-USDT | +0.0100% | 4h | 0.01899 | −0.367% | $34K | $14K | 20x | as long as short |
| OKX PIPPIN-USDT-SWAP | +0.0137% | 4h | 0.01906 | 0.000% | $1.5M | $3.5M | 20x | as long as short |
BloFin PIPPIN-USDT
Aster PIPPINUSDT
Pacifica PIPPIN
Binance PIPPINUSDT
Gate PIPPIN_USDT
MEXC PIPPIN_USDT
SunX PIPPIN-USDT
HTX PIPPIN-USDT
OKX PIPPIN-USDT-SWAPShow all 13 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PIPPINUSDTlong | +0.0222% | 4h | 0.01906 | long leg | $1.6M | $328K | 10x | |
| BingX PIPPIN-USDT | +0.0268% | 4h | 0.01908 | +0.105% | — | $1.4M | — | as long as short |
| KuCoin PIPPINUSDTM | +0.0448% | 4h | 0.01904 | −0.105% | $2.1M | $6.4M | 25x | as long as short |
BingX PIPPIN-USDT
KuCoin PIPPINUSDTM