PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0157%/8h= +17.2% APRnext payment +$0.79 per $10,000 · paid last 24h −0.038%

Price spread now: BloFin against Gate0.000%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$861as in the Funding arb table

Net, price: spread back to 7d avg − costs−$877as in the Price arb table

costs, in and out, $10k−$8728.718% of the position

Long on Gate Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 4 days (all we have)+0.191%+$19 · spread now 0.000%, 7d avg +0.050%

Together, before fees+0.297%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.050% cheaper against Gate than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.050%). If the spread goes back, that is −$5 on $10k: about 25 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.107% in total) that is about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PIPPIN_USDT	0.01899	0.0726	pay 0.0363% / 4h	1h 54m	$1.8M	$283K	20x
Short	BloFin PIPPIN-USDT	0.01899	0.0883	get 0.0442% / 4h	1h 54m	$254K	$31K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee BloFinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $33.03
Price spread: 0.000% → +0.050%: −$4.97
Slippage, 4 orders: −$844.76
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$843.7
Costs to cover: 8.718%
Break-even: 185.8 days

Slippage from Gate: live order book, 1 min ago; BloFin: live order book, 52 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 Gate live order book, 1 min ago	2.63 bp	213.1 bp −$213	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 52 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	0.01901	+0.105%	$1.6M	$264K	10x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01902	+0.158%	$2K	$9.0M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01890	−0.474%	$34K	$5K	20x	as long as short
Pacifica PIPPIN	+0.0148%	1h	0.01899	0.000%	$18K	$4K	3x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0215%	4h	0.01900	+0.053%	$1.5M	$2.8M	20x	as long as short
Bybit PIPPINUSDT	+0.0246%	4h	0.01901	+0.105%	$3.6M	$1.3M	13x	as long as short
KuCoin PIPPINUSDTM	+0.0362%	4h	0.01900	+0.053%	$2.1M	$6.8M	25x	as long as short
Gate PIPPIN_USDTlong	+0.0726%	4h	0.01899	long leg	$1.8M	$283K	20x
BingX PIPPIN-USDT	+0.0882%	4h	0.01900	+0.053%	—	$1.3M	—	as long as short
BloFin PIPPIN-USDTshort	+0.0883%	4h	0.01899	0.000%	$254K	$31K	25x

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PIPPINUSDT	+0.0929%	4h	0.01900	+0.061%	$111K	$35K	5x	as long as short
MEXC PIPPIN_USDT	+0.0954%	4h	0.01898	−0.053%	$3.0M	$725K	50x	as long as short
Binance PIPPINUSDT	+0.0955%	4h	0.01899	0.000%	$5.4M	$4.5M	25x	as long as short