PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0874%/8h= −95.7% APRnext payment −$4.37 per $10,000 · paid last 24h −0.066%

Price spread now: MEXC against BingX−0.052%7-day average −0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$810.810% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.674%−$67 on $10k

Price spread, last 7 days−0.026%−$3 · spread now −0.052%, 7d avg −0.108%

Together, before fees−0.700%−$70 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.056% dearer against BingX than usual: you sell high and buy low (spread −0.052% now, against its 7-day average of −0.108%): +$6 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.674% in total) that is about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PIPPIN-USDT	0.01926	0.0974	pay 0.0487% / 4h	1h 36m	—	$1.3M	—
Short	MEXC PIPPIN_USDT	0.01925	0.0100	get 0.0050% / 4h	1h 36m	$2.7M	$749K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BingX. 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 BingXbpFee MEXCbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$183.54
Price spread: −0.052% → −0.108%: $5.61
Slippage, 4 orders: −$71.03
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$258.96
Costs to cover: 0.810%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; MEXC: live order book, 1 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 BingX live order book, 10 min ago	2.60 bp	36.4 bp −$36	269.4 bp −$2,694	741.5 bp −$74.1K	doesn't fit
Sell MEXC live order book, 1 min ago	2.59 bp	17.0 bp −$17	111.0 bp −$1,110	224.6 bp −$22.5K	470.3 bp −$235.1K

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	0.01922	−0.184%	$112K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01926	0.000%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01926	−0.010%	$5.5M	$5.2M	25x	as long as short
MEXC PIPPIN_USDTshort	+0.0100%	4h	0.01925	−0.052%	$2.7M	$749K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01931	+0.260%	$1K	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01915	−0.571%	$35K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0149%	4h	0.01929	+0.156%	$257K	$27K	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0457%	4h	0.01927	+0.052%	$1.6M	$3.5M	20x	as long as short
Gate PIPPIN_USDT	+0.0516%	4h	0.01926	0.000%	$1.8M	$325K	20x	as long as short
Bybit PIPPINUSDT	+0.0784%	4h	0.01927	+0.052%	$3.7M	$1.5M	13x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PIPPIN-USDTlong	+0.0974%	4h	0.01926	long leg	—	$1.3M	—
Bitget PIPPINUSDT	+0.1006%	4h	0.01926	0.000%	$1.6M	$321K	10x	as long as short
KuCoin PIPPINUSDTM	+0.1166%	4h	0.01928	+0.104%	$2.2M	$6.0M	25x	as long as short