Funding you earn now, next payment 08:00 UTC+0.0938%/8h= +102.7% APRnext payment +$4.69 per $10,000 · paid last 24h +0.001%
Price spread now: Bybit against BloFin−0.208%102s7-day average +0.078% · you buy dearer than you sell
Net, funding: paid 7d − costs−$99as 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−$860.856% of the position
Funding, last 7 days−0.134%−$13 on $10k
+Price spread, last 4 days (all we have)+0.208%+$21 · spread now −0.208%, 7d avg +0.078%
=Funding pays, the price is against you. Bybit is 0.286% cheaper against BloFin than usual: you would sell low and buy high (spread −0.208% now, against its 7-day average of +0.078%). If the spread goes back, that is −$29 on $10k: about 24 hours of funding at the current rate (+$28 a day). Mind the row above: over the last 7 days funding on this pair cost −0.134%, so the current rate has only just turned in your favour. The two prices were read 102 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.134% in total (about -7.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.69 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 | BloFin PIPPIN-USDT | 0.01920 | 0.0089 | pay 0.0044% / 4h | 2h 29m | $256K | $27K | 25x |
| Short | Bybit PIPPINUSDT | 0.01916 | 0.1027 | get 0.0513% / 4h | 2h 29m | $3.7M | $1.5M | 13x |
BloFin PIPPIN-USDT
Bybit PIPPINUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BloFin. 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
- $196.91
- Price spread: −0.208% → +0.078%
- −$28.63
- Slippage, 4 orders
- −$62.56
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $82.72
- Costs to cover
- 0.856%
- Break-even
- 4.1 days
Slippage from BloFin: live order book, 52 min ago; Bybit: live order book, 3 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, 52 min ago | 5.25 bp | 18.3 bp −$18 | 110.2 bp −$1,102 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 5.21 bp | 22.0 bp −$22 | 205.4 bp −$2,054 | 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-USDTlong | +0.0089% | 4h | 0.01920 | long leg | $256K | $27K | 25x | |
| Aster PIPPINUSDT | +0.0100% | 4h | 0.01911 | −0.445% | $111K | $33K | 5x | as long as short |
| Pacifica PIPPIN | +0.0100% | 1h | 0.01912 | −0.437% | $18K | $9K | 3x | as long as short |
| Binance PIPPINUSDT | +0.0100% | 4h | 0.01911 | −0.445% | $5.4M | $5.1M | 25x | as long as short |
| MEXC PIPPIN_USDT | +0.0100% | 4h | 0.01910 | −0.521% | $2.6M | $729K | 50x | as long as short |
| SunX PIPPIN-USDT | +0.0100% | 4h | 0.01911 | −0.469% | $2K | $10.4M | 20x | as long as short |
| HTX PIPPIN-USDT | +0.0100% | 4h | 0.01904 | −0.833% | $34K | $14K | 20x | as long as short |
| OKX PIPPIN-USDT-SWAP | +0.0385% | 4h | 0.01915 | −0.260% | $1.5M | $3.5M | 20x | as long as short |
| Gate PIPPIN_USDT | +0.0482% | 4h | 0.01912 | −0.417% | $1.8M | $321K | 20x | as long as short |
| Bitget PIPPINUSDT | +0.0786% | 4h | 0.01914 | −0.312% | $1.6M | $317K | 10x | as long as short |
Aster PIPPINUSDT
Pacifica PIPPIN
Binance PIPPINUSDT
MEXC PIPPIN_USDT
SunX PIPPIN-USDT
HTX PIPPIN-USDT
OKX PIPPIN-USDT-SWAP
Gate PIPPIN_USDT
Bitget PIPPINUSDTShow all 13 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX PIPPIN-USDT | +0.0940% | 4h | 0.01916 | −0.208% | — | $1.4M | — | as long as short |
| Bybit PIPPINUSDTshort | +0.1027% | 4h | 0.01916 | −0.208% | $3.7M | $1.5M | 13x | |
| KuCoin PIPPINUSDTM | +0.1070% | 4h | 0.01911 | −0.469% | $2.1M | $5.7M | 25x | as long as short |
BingX PIPPIN-USDT
KuCoin PIPPINUSDTM