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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 ~4.9d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+17.75%
7d Period Avg+56.58%
swing±92.91%
LONG Bitget · now
+10.96%
7d avg:+22.31%
SHORT KuCoin · nowPIPPINUSDTM
+28.71%
7d avg:+78.89%
Entry Spread Now
−0.419%
Against youL 0.01194 · S 0.01189−$41.88 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
+$81.35
+0.81%
$Avg Daily PnL
+$15.05
+0.1505%
★Best Day
+$28.68
Nov 10
◎Open Interest
Bitget$1.10M
KuCoin$849.6K⚡Funding APR
+54.93%
annualized · funding only
⚠Execution Cost
−$24.00
entry + exit fees
⏱Payback
1.6d
to break even
◧24h Volume
Bitget$198.5KKuCoin$462.0KLoading 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.