PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0056%/8h= −6.2% APRnext payment −$0.28 per $10,000 · paid last 24h +0.004%

Price spread now: Bitget against BloFin+0.211%95s7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$870.874% of the position

Long on BloFin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.146%+$15 on $10k

Price spread, last 3 days (all we have)−0.302%−$30 · spread now +0.211%, 7d avg −0.008%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.219% dearer against BloFin than usual: you sell high and buy low (spread +0.211% now, against its 7-day average of −0.008%): +$22 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 13 days. Mind the row above: over the last 7 days funding on this pair paid +0.146%, so the current rate has only just turned against you. The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PIPPIN-USDT	0.01892	0.0156	pay 0.0078% / 4h	1h 15m	$250K	$27K	25x
Short	Bitget PIPPINUSDT	0.01896	0.0100	get 0.0050% / 4h	1h 15m	$1.6M	$337K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BloFin. 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 BloFinbpFee BitgetbpOrdersPrice spread, now +0.211%Rate

Funding earned: −$11.85
Price spread: +0.211% → −0.008%: $21.89
Slippage, 4 orders: −$63.43
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$77.38
Costs to cover: 0.874%
Break-even: never at this rate

Slippage from BloFin: live order book, 60 min ago; Bitget: 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 BloFin live order book, 60 min ago	2.63 bp	12.0 bp −$12	81.2 bp −$812	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	5.27 bp	22.6 bp −$23	212.1 bp −$2,121	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	0.01891	−0.041%	$110K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01895	+0.159%	$18K	$9K	3x	as long as short
Bitget PIPPINUSDTshort	+0.0100%	4h	0.01896	+0.211%	$1.6M	$337K	10x
SunX PIPPIN-USDT	+0.0100%	4h	0.01897	+0.264%	$2K	$9.8M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01885	−0.370%	$34K	$16K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0113%	4h	0.01896	+0.211%	$1.6M	$3.3M	20x	as long as short
BloFin PIPPIN-USDTlong	+0.0156%	4h	0.01892	long leg	$250K	$27K	25x
MEXC PIPPIN_USDT	+0.0164%	4h	0.01893	+0.053%	$2.6M	$750K	50x	as long as short
Binance PIPPINUSDT	+0.0164%	4h	0.01894	+0.096%	$5.3M	$4.6M	25x	as long as short
Gate PIPPIN_USDT	+0.0510%	4h	0.01893	+0.053%	$1.8M	$304K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.0522%	4h	0.01896	+0.211%	$2.1M	$3.5M	25x	as long as short
Bybit PIPPINUSDT	+0.0542%	4h	0.01898	+0.317%	$3.6M	$1.4M	13x	as long as short
BingX PIPPIN-USDT	+0.0580%	4h	0.01896	+0.211%	—	$1.3M	—	as long as short