Funding you earn now, next payment 08:00 UTC−0.0072%/8h= −7.9% APRnext payment −$0.36 per $10,000 · paid last 24h −0.001%
Price spread now: Bybit against OKX0.000%7-day average +0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$129as in the Funding arb table
Net, price: spread back to 7d avg − costs−$106as in the Price arb table
costs, in and out, $10k−$1011.015% of the position
Funding, last 7 days−0.279%−$28 on $10k
+Price spread, last 7 days+0.058%+$6 · spread now 0.000%, 7d avg +0.049%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.049% cheaper against OKX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.049%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX PIPPIN-USDT-SWAP | 0.01905 | 0.0172 | pay 0.0086% / 4h | 17m 42s | $1.5M | $3.5M | 20x |
| Short | Bybit PIPPINUSDT | 0.01905 | 0.0100 | get 0.0050% / 4h | 17m 42s | $3.6M | $1.5M | 13x |
OKX PIPPIN-USDT-SWAP
Bybit PIPPINUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$15.19
- Price spread: 0.000% → +0.049%
- −$4.85
- Slippage, 4 orders
- −$80.45
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$121.49
- Costs to cover
- 1.015%
- Break-even
- never at this rate
Slippage from OKX: live order book, 5 min ago; Bybit: live order book, 5 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 | 2.63 bp | 26.9 bp −$27 | 155.0 bp −$1,550 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 5.24 bp | 29.0 bp −$29 | 201.3 bp −$2,013 | 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 | +0.0065% | 4h | 0.01906 | +0.052% | $255K | $32K | 25x | as long as short |
| Aster PIPPINUSDT | +0.0100% | 4h | 0.01905 | 0.000% | $111K | $35K | 5x | as long as short |
| Pacifica PIPPIN | +0.0100% | 1h | 0.01906 | +0.047% | $18K | $5K | 3x | as long as short |
| Binance PIPPINUSDT | +0.0100% | 4h | 0.01907 | +0.089% | $5.4M | $5.3M | 25x | as long as short |
| Bybit PIPPINUSDTshort | +0.0100% | 4h | 0.01905 | 0.000% | $3.6M | $1.5M | 13x | |
| MEXC PIPPIN_USDT | +0.0100% | 4h | 0.01906 | +0.052% | $2.7M | $767K | 50x | as long as short |
| SunX PIPPIN-USDT | +0.0100% | 4h | 0.01908 | +0.157% | $2K | $10.4M | 20x | as long as short |
| HTX PIPPIN-USDT | +0.0100% | 4h | 0.01900 | −0.262% | $34K | $14K | 20x | as long as short |
| Gate PIPPIN_USDT | +0.0150% | 4h | 0.01904 | −0.052% | $1.8M | $329K | 20x | as long as short |
| OKX PIPPIN-USDT-SWAPlong | +0.0172% | 4h | 0.01905 | long leg | $1.5M | $3.5M | 20x |
BloFin PIPPIN-USDT
Aster PIPPINUSDT
Pacifica PIPPIN
Binance PIPPINUSDT
MEXC PIPPIN_USDT
SunX PIPPIN-USDT
HTX PIPPIN-USDT
Gate PIPPIN_USDTShow all 13 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PIPPINUSDT | +0.0312% | 4h | 0.01905 | 0.000% | $1.6M | $324K | 10x | as long as short |
| BingX PIPPIN-USDT | +0.0336% | 4h | 0.01907 | +0.105% | — | $1.4M | — | as long as short |
| KuCoin PIPPINUSDTM | +0.0516% | 4h | 0.01902 | −0.157% | $2.1M | $6.3M | 25x | as long as short |
Bitget PIPPINUSDT
BingX PIPPIN-USDT
KuCoin PIPPINUSDTM