Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0526%/8h= −57.6% APRpaid last 24h −0.043%

Price spread now: Pacifica against Gate−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 Gate 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 −$16 a day on $10k at the current rate, and Pacifica is 0.052% cheaper against Gate 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	Gate PIPPIN_USDT	0.01909	0.0626	pay 0.0313% / 4h	49m 01s	$1.8M	$304K	20x
Short	Pacifica PIPPIN	0.01908	0.0100	get 0.0013% / 1h	49m 01s	$18K	$9K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Gate. 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 GatebpFee PacificabpOrdersPrice spread, now −0.052%Rate

Funding earned: −$110.46
Price spread: −0.052% → 0.000%: −$5.24
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$138.7
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 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 Gate live order book, 3 min ago	5.24 bp	178.7 bp −$179	doesn't fit	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 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
Aster PIPPINUSDT	+0.0100%	4h	0.01907	−0.082%	$111K	$34K	5x	as long as short
Pacifica PIPPINshort	+0.0100%	1h	0.01908	−0.052%	$18K	$9K	3x
SunX PIPPIN-USDT	+0.0100%	4h	0.01911	+0.105%	$2K	$9.8M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01895	−0.733%	$34K	$16K	20x	as long as short
BloFin PIPPIN-USDT	+0.0135%	4h	0.01908	−0.052%	$250K	$28K	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0148%	4h	0.01910	+0.052%	$1.6M	$3.2M	20x	as long as short
Binance PIPPINUSDT	+0.0160%	4h	0.01907	−0.082%	$5.4M	$4.6M	25x	as long as short
MEXC PIPPIN_USDT	+0.0164%	4h	0.01907	−0.105%	$2.5M	$755K	50x	as long as short
Bitget PIPPINUSDT	+0.0482%	4h	0.01902	−0.367%	$1.6M	$333K	10x	as long as short
Gate PIPPIN_USDTlong	+0.0626%	4h	0.01909	long leg	$1.8M	$304K	20x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDT	+0.0646%	4h	0.01902	−0.367%	—	$1.3M	—	as long as short
Bybit PIPPINUSDT	+0.0749%	4h	0.01910	+0.052%	$3.7M	$1.4M	13x	as long as short
KuCoin PIPPINUSDTM	+0.0814%	4h	0.01911	+0.105%	$2.1M	$3.7M	25x	as long as short