Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.015%

Price spread now: MEXC against Aster−0.061%7-day average +0.011% · 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−$66as in the Price arb table

costs, in and out, $10k−$590.585% of the position

Long on Aster Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.227%+$23 · spread now −0.061%, 7d avg +0.011%

Together, before fees+0.229%+ Points / potential airdropAster: Stage 5 · farm board+$23 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: MEXC is 0.072% cheaper against Aster than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PIPPINUSDT	0.01904	0.0100	pay 0.0050% / 4h	2h 22m	$111K	$33K	5x
Short	MEXC PIPPIN_USDT	0.01903	0.0100	get 0.0050% / 4h	2h 22m	$2.6M	$734K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Aster. 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 AsterbpFee MEXCbpOrdersPrice spread, now −0.061%Rate

Funding earned: $0
Price spread: −0.061% → +0.011%: −$7.24
Slippage, 4 orders: −$50.54
Fee Aster: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$65.77
Costs to cover: 0.585%
Break-even: never at this rate

Slippage from Aster: live order book, 23 min ago; MEXC: 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 Aster live order book, 23 min ago	5.21 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	2.62 bp	12.7 bp −$13	101.1 bp −$1,011	224.2 bp −$22.4K	417.4 bp −$208.7K

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 PIPPINUSDTlong	+0.0100%	4h	0.01904	long leg	$111K	$33K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01905	+0.055%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01904	−0.008%	$5.4M	$5.2M	25x	as long as short
MEXC PIPPIN_USDTshort	+0.0100%	4h	0.01903	−0.061%	$2.6M	$734K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01901	−0.166%	$2K	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01898	−0.324%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0128%	4h	0.01907	+0.149%	$256K	$27K	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0364%	4h	0.01904	−0.008%	$1.5M	$3.5M	20x	as long as short
Gate PIPPIN_USDT	+0.0406%	4h	0.01904	−0.008%	$1.8M	$323K	20x	as long as short
Bitget PIPPINUSDT	+0.0782%	4h	0.01904	−0.008%	$1.6M	$318K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDT	+0.0976%	4h	0.01908	+0.202%	—	$1.3M	—	as long as short
Bybit PIPPINUSDT	+0.0977%	4h	0.01905	+0.044%	$3.6M	$1.5M	13x	as long as short
KuCoin PIPPINUSDTM	+0.1070%	4h	0.01904	−0.008%	$2.1M	$5.8M	25x	as long as short