PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0427%/8h= +46.7% APRnext payment +$2.13 per $10,000 · paid last 24h +0.019%

Price spread now: Bitget against OKX+0.052%7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$1021.020% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$7 on $10k

Price spread, last 7 days+0.016%+$2 · spread now +0.052%, 7d avg −0.048%

Together, before fees+0.081%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Bitget is 0.100% dearer against OKX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.048%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.065% in total (about 3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.13 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	OKX PIPPIN-USDT-SWAP	0.01910	0.0275	pay 0.0138% / 4h	3h 27m	$1.5M	$3.3M	20x
Short	Bitget PIPPINUSDT	0.01911	0.0702	get 0.0351% / 4h	3h 27m	$1.6M	$307K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.052%Rate

Funding earned: $89.6
Price spread: +0.052% → −0.048%: $10.04
Slippage, 4 orders: −$80.04
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$2.4
Costs to cover: 1.020%
Break-even: 7.2 days

Slippage from OKX: live order book, 5 min ago; Bitget: live order book, 4 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, 5 min ago	2.62 bp	23.8 bp −$24	144.3 bp −$1,443	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	5.23 bp	25.5 bp −$26	182.7 bp −$1,827	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
Aster PIPPINUSDT	+0.0100%	4h	0.01908	−0.079%	$111K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01908	−0.105%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01909	−0.029%	$5.4M	$4.9M	25x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01909	−0.052%	$2.5M	$711K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01912	+0.105%	$1K	$10.2M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01890	−1.047%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0109%	4h	0.01912	+0.105%	$253K	$27K	25x	as long as short
OKX PIPPIN-USDT-SWAPlong	+0.0275%	4h	0.01910	long leg	$1.5M	$3.3M	20x
Bybit PIPPINUSDT	+0.0513%	4h	0.01912	+0.105%	$3.7M	$1.4M	13x	as long as short
Bitget PIPPINUSDTshort	+0.0702%	4h	0.01911	+0.052%	$1.6M	$307K	10x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PIPPIN_USDT	+0.0704%	4h	0.01909	−0.052%	$1.8M	$313K	20x	as long as short
BingX PIPPIN-USDT	+0.0784%	4h	0.01907	−0.157%	—	$1.3M	—	as long as short
KuCoin PIPPINUSDTM	+0.1016%	4h	0.01910	0.000%	$2.1M	$5.4M	25x	as long as short