PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0758%/8h= −83.0% APRnext payment −$3.79 per $10,000 · paid last 24h −0.115%

Price spread now: OKX against KuCoin−0.052%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$199as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1541.538% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.454%−$45 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.052%, 7d avg +0.015%

Together, before fees−0.450%−$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and OKX is 0.067% cheaper against KuCoin than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.015%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.454% in total (about -23.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.79 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	KuCoin PIPPINUSDTM	0.01909	0.1056	pay 0.0528% / 4h	3h 15m	$2.1M	$5.5M	25x
Short	OKX PIPPIN-USDT-SWAP	0.01908	0.0298	get 0.0149% / 4h	3h 15m	$1.5M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against KuCoin. 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 KuCoinbpFee OKXbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$159.12
Price spread: −0.052% → +0.015%: −$6.7
Slippage, 4 orders: −$131.84
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$319.67
Costs to cover: 1.538%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; OKX: live order book, 2 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 KuCoin live order book, 3 min ago	5.24 bp	56.1 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	2.62 bp	20.9 bp −$21	138.5 bp −$1,385	doesn't fit	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	+0.0072%	4h	0.01910	+0.052%	$254K	$27K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01907	−0.101%	$111K	$32K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01909	0.000%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01909	−0.008%	$5.4M	$4.9M	25x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01909	0.000%	$2.5M	$712K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01911	+0.105%	$566	$10.2M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01887	−1.152%	$34K	$14K	20x	as long as short
OKX PIPPIN-USDT-SWAPshort	+0.0298%	4h	0.01908	−0.052%	$1.5M	$3.3M	20x
Gate PIPPIN_USDT	+0.0400%	4h	0.01907	−0.105%	$1.8M	$316K	20x	as long as short
Bybit PIPPINUSDT	+0.0585%	4h	0.01911	+0.105%	$3.7M	$1.4M	13x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDT	+0.0712%	4h	0.01907	−0.105%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.0786%	4h	0.01909	0.000%	$1.6M	$305K	10x	as long as short
KuCoin PIPPINUSDTMlong	+0.1056%	4h	0.01909	long leg	$2.1M	$5.5M	25x