Funding you earn now, next payment 12:00 UTC+0.0857%/8h= +93.9% APRnext payment +$4.29 per $10,000 · paid last 24h −0.012%
Price spread now: BloFin against Bybit+0.106%112s7-day average −0.079% · you sell dearer than you buy
Net, funding: paid 7d − costs−$79as 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−$920.919% of the position
Funding, last 7 days+0.129%+$13 on $10k
+Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.106%, 7d avg −0.079%
=Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and BloFin is 0.184% dearer against Bybit than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.079%. The two prices were read 112 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 0.129% in total (about 6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.29 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PIPPINUSDT | 0.01894 | 0.0152 | pay 0.0076% / 4h | 1h 49m | $3.6M | $1.3M | 13x |
| Short | BloFin PIPPIN-USDT | 0.01896 | 0.1009 | get 0.0505% / 4h | 1h 49m | $254K | $31K | 25x |
Bybit PIPPINUSDT
BloFin PIPPIN-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bybit. 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
- $180.04
- Price spread: +0.106% → −0.079%
- $18.45
- Slippage, 4 orders
- −$68.93
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- $106.56
- Costs to cover
- 0.919%
- Break-even
- 2.9 days
Slippage from Bybit: live order book, 1 min ago; BloFin: live order book, 57 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, 1 min ago | 2.64 bp | 18.3 bp −$18 | 158.7 bp −$1,587 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 57 min ago | 7.91 bp | 26.1 bp −$26 | 77.7 bp −$777 | doesn't fit | doesn't fit |
PIPPIN on 13 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget PIPPINUSDT | +0.0100% | 4h | 0.01896 | +0.106% | $1.6M | $261K | 10x | as long as short |
| SunX PIPPIN-USDT | +0.0100% | 4h | 0.01896 | +0.106% | $332 | $9.0M | 20x | as long as short |
| HTX PIPPIN-USDT | +0.0100% | 4h | 0.01888 | −0.317% | $34K | $5K | 20x | as long as short |
| Pacifica PIPPIN | +0.0148% | 1h | 0.01893 | −0.053% | $18K | $4K | 3x | as long as short |
| Bybit PIPPINUSDTlong | +0.0152% | 4h | 0.01894 | long leg | $3.6M | $1.3M | 13x | |
| OKX PIPPIN-USDT-SWAP | +0.0193% | 4h | 0.01891 | −0.158% | $1.5M | $2.7M | 20x | as long as short |
| KuCoin PIPPINUSDTM | +0.0304% | 4h | 0.01894 | 0.000% | $2.1M | $6.8M | 25x | as long as short |
| Gate PIPPIN_USDT | +0.0624% | 4h | 0.01893 | −0.053% | $1.8M | $283K | 20x | as long as short |
| Aster PIPPINUSDT | +0.0914% | 4h | 0.01893 | −0.072% | $110K | $35K | 5x | as long as short |
| BingX PIPPIN-USDT | +0.0918% | 4h | 0.01895 | +0.053% | — | $1.3M | — | as long as short |
Bitget PIPPINUSDT
SunX PIPPIN-USDT
HTX PIPPIN-USDT
Pacifica PIPPIN
OKX PIPPIN-USDT-SWAP
KuCoin PIPPINUSDTM
Gate PIPPIN_USDT
Aster PIPPINUSDT
BingX PIPPIN-USDTShow all 13 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance PIPPINUSDT | +0.0942% | 4h | 0.01892 | −0.090% | $5.4M | $4.5M | 25x | as long as short |
| MEXC PIPPIN_USDT | +0.0954% | 4h | 0.01892 | −0.106% | $3.0M | $727K | 50x | as long as short |
| BloFin PIPPIN-USDTshort | +0.1009% | 4h | 0.01896 | +0.106% | $254K | $31K | 25x |
Binance PIPPINUSDT
MEXC PIPPIN_USDT