PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0732%/8h= −80.2% APRnext payment −$3.66 per $10,000 · paid last 24h −0.010%

Price spread now: MEXC against Bitget−0.104%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$790.788% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.195%−$19 on $10k

Price spread, last 7 days−0.003%$0 · spread now −0.104%, 7d avg −0.064%

Together, before fees−0.197%−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and MEXC is 0.040% cheaper against Bitget than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.064%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.195% in total (about -10.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.66 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PIPPINUSDT	0.01920	0.0832	pay 0.0416% / 4h	42m 48s	$1.6M	$323K	10x
Short	MEXC PIPPIN_USDT	0.01918	0.0100	get 0.0050% / 4h	42m 48s	$2.7M	$758K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bitget. 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 BitgetbpFee MEXCbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$153.72
Price spread: −0.104% → −0.064%: −$4
Slippage, 4 orders: −$66.78
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$236.51
Costs to cover: 0.788%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 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 Bitget live order book, 4 min ago	7.79 bp	26.7 bp −$27	297.6 bp −$2,976	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	2.60 bp	11.0 bp −$11	120.8 bp −$1,208	223.9 bp −$22.4K	480.1 bp −$240.1K

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
BloFin PIPPIN-USDT	+0.0074%	4h	0.01917	−0.156%	$254K	$27K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01915	−0.258%	$112K	$35K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01917	−0.156%	$18K	$5K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01919	−0.074%	$5.4M	$5.3M	25x	as long as short
MEXC PIPPIN_USDTshort	+0.0100%	4h	0.01918	−0.104%	$2.7M	$758K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01921	+0.052%	$2K	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01913	−0.365%	$35K	$14K	20x	as long as short
Bybit PIPPINUSDT	+0.0196%	4h	0.01919	−0.052%	$3.7M	$1.5M	13x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0249%	4h	0.01920	0.000%	$1.5M	$3.5M	20x	as long as short
Gate PIPPIN_USDT	+0.0282%	4h	0.01916	−0.208%	$1.8M	$328K	20x	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	+0.0802%	4h	0.01922	+0.104%	—	$1.3M	—	as long as short
Bitget PIPPINUSDTlong	+0.0832%	4h	0.01920	long leg	$1.6M	$323K	10x
KuCoin PIPPINUSDTM	+0.0884%	4h	0.01920	0.000%	$2.2M	$6.2M	25x	as long as short