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updated —PIPPIN Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~17d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+5.26%
3d Period Avg+48.85%
swing±84.17%
LONG Bitget · now
+10.96%
3d avg:+30.91%
SHORT KuCoin · nowPIPPINUSDTM
+16.22%
3d avg:+79.76%
Entry Spread Now
−0.084%
Eaten by executionL 0.01188 · S 0.01187−$8.42 if it converges
24h range −0.50%…+0.16% · median −0.16%
Long pays every4hShort pays every4h
LONGmaker0.020%/taker0.060%SHORTmaker0.020%/taker0.060%
Loading Funding History…
↗Total PnL
+$16.12
+0.16%
$Avg Daily PnL
+$13.37
+0.1337%
★Best Day
+$27.96
Nov 13
◎Open Interest
Bitget$1.09M
KuCoin$845.4K⚡Funding APR
+48.81%
annualized · funding only
⚠Execution Cost
−$24.00
entry + exit fees
⏱Payback
1.8d
to break even
◧24h Volume
Bitget$201.9KKuCoin$463.4KLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$24.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.