Funding arb · Price arb /

PIPPIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Aster against OKX−0.042%7-day average −0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$760.762% of the position

Long on OKX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.169%−$17 on $10k

Price spread, last 4 days (all we have)−0.223%−$22 · spread now −0.042%, 7d avg −0.112%

Together, before fees−0.393%+ Points / potential airdropAster: Stage 5 · farm board−$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.070% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.112%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PIPPIN-USDT-SWAP	0.01899	0.0100	pay 0.0050% / 4h	3h 34m	$1.5M	$3.5M	20x
Short	Aster PIPPINUSDT	0.01898	0.0100	get 0.0050% / 4h	3h 34m	$111K	$35K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against OKX. 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 OKXbpFee AsterbpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → −0.112%: $6.96
Slippage, 4 orders: −$58.18
Fee OKX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$69.21
Costs to cover: 0.762%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Aster: live order book, 61 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 OKX live order book, 3 min ago	2.63 bp	22.6 bp −$23	132.5 bp −$1,325	doesn't fit	doesn't fit
Sell Aster live order book, 61 min ago	5.26 bp	16.6 bp −$17	doesn't fit	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	+0.0050%	4h	0.01898	−0.053%	$254K	$32K	25x	as long as short
Aster PIPPINUSDTshort	+0.0100%	4h	0.01898	−0.042%	$111K	$35K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01898	−0.047%	$18K	$5K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01899	−0.022%	$5.4M	$5.3M	25x	as long as short
Bybit PIPPINUSDT	+0.0100%	4h	0.01900	+0.053%	$3.6M	$1.5M	13x	as long as short
OKX PIPPIN-USDT-SWAPlong	+0.0100%	4h	0.01899	long leg	$1.5M	$3.5M	20x
Gate PIPPIN_USDT	+0.0100%	4h	0.01898	−0.053%	$1.8M	$320K	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01898	−0.053%	$2.7M	$785K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01900	+0.053%	$2K	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01897	−0.105%	$34K	$14K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PIPPINUSDT	+0.0150%	4h	0.01900	+0.053%	$1.6M	$335K	10x	as long as short
BingX PIPPIN-USDT	+0.0174%	4h	0.01907	+0.421%	—	$1.4M	—	as long as short
KuCoin PIPPINUSDTM	+0.0384%	4h	0.01899	0.000%	$2.1M	$6.5M	25x	as long as short