Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0059%/8h= −6.4% APRpaid last 24h +0.003%

Price spread now: Pacifica against Bybit−0.052%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Pacifica is 0.052% cheaper against Bybit than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PIPPINUSDT	0.01911	0.0159	pay 0.0079% / 4h	2h 03m	$3.7M	$1.4M	13x
Short	Pacifica PIPPIN	0.01910	0.0100	get 0.0013% / 1h	3m 38s	$18K	$9K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.052%Rate

Funding earned: −$12.36
Price spread: −0.052% → 0.000%: −$5.23
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$36.59
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; Pacifica: no order-book sample. Net counts fees only.

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, 4 min ago	5.22 bp	25.2 bp −$25	204.9 bp −$2,049	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PIPPIN on 12 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	+0.0035%	4h	0.01915	+0.209%	$111K	$33K	5x	as long as short
Pacifica PIPPINshort	+0.0100%	1h	0.01910	−0.052%	$18K	$9K	3x
Binance PIPPINUSDT	+0.0100%	4h	0.01909	−0.085%	$5.4M	$4.8M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01909	−0.105%	$1.6M	$3.2M	20x	as long as short
Gate PIPPIN_USDT	+0.0100%	4h	0.01910	−0.052%	$1.8M	$308K	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01909	−0.105%	$2.5M	$746K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01910	−0.052%	$821	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01899	−0.628%	$34K	$14K	20x	as long as short
Bybit PIPPINUSDTlong	+0.0159%	4h	0.01911	long leg	$3.7M	$1.4M	13x
KuCoin PIPPINUSDTM	+0.1672%	4h	0.01911	0.000%	$2.1M	$4.6M	25x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDT	+0.2048%	4h	0.01908	−0.157%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.2108%	4h	0.01911	0.000%	$1.6M	$327K	10x	as long as short