PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1720%/8h= +188.3% APRnext payment +$8.60 per $10,000 · paid last 24h +0.069%

Price spread now: BingX against Bybit0.000%7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$960.961% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.807%+$81 on $10k

Price spread, last 7 days−0.029%−$3 · spread now 0.000%, 7d avg −0.051%

Together, before fees+0.778%+$78 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$52 a day on $10k at the current rate, and BingX is 0.051% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.051%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.807% in total (about 42.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$8.60 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	Bybit PIPPINUSDT	0.01907	0.0230	pay 0.0115% / 4h	2h 45m	$3.7M	$1.4M	13x
Short	BingX PIPPIN-USDT	0.01907	0.1950	get 0.0975% / 4h	2h 45m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. 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 BybitbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $361.1
Price spread: 0.000% → −0.051%: $5.1
Slippage, 4 orders: −$75.1
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: $270.11
Costs to cover: 0.961%
Break-even: 1.8 days

Slippage from Bybit: live order book, 2 min ago; BingX: 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 Bybit live order book, 2 min ago	2.62 bp	28.3 bp −$28	238.8 bp −$2,388	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	7.87 bp	19.6 bp −$20	124.4 bp −$1,244	275.1 bp −$27.5K	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	+0.0081%	4h	0.01904	−0.157%	$255K	$29K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01907	+0.007%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01907	+0.021%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01906	−0.031%	$5.4M	$4.8M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01907	0.000%	$1.5M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01906	−0.052%	$2.4M	$741K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01909	+0.105%	$1K	$10.0M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01894	−0.682%	$34K	$15K	20x	as long as short
Bybit PIPPINUSDTlong	+0.0230%	4h	0.01907	long leg	$3.7M	$1.4M	13x
Gate PIPPIN_USDT	+0.0450%	4h	0.01905	−0.105%	$1.8M	$301K	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	+0.1628%	4h	0.01907	0.000%	$2.1M	$4.4M	25x	as long as short
BingX PIPPIN-USDTshort	+0.1950%	4h	0.01907	0.000%	—	$1.3M	—
Bitget PIPPINUSDT	+0.2060%	4h	0.01902	−0.262%	$1.6M	$329K	10x	as long as short