PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0332%/8h= −36.4% APRnext payment −$1.66 per $10,000 · paid last 24h −0.024%

Price spread now: MEXC against Gate0.000%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$828as in the Funding arb table

Net, price: spread back to 7d avg − costs−$837as in the Price arb table

costs, in and out, $10k−$8408.402% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$12 on $10k

Price spread, last 7 days+0.010%+$1 · spread now 0.000%, 7d avg −0.030%

Together, before fees+0.135%+$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.030% dearer against Gate than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.030%): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 7 hours. Mind the row above: over the last 7 days funding on this pair paid +0.125%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.125% in total (about 6.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.66 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	Gate PIPPIN_USDT	0.01920	0.0432	pay 0.0216% / 4h	2h 20m	$1.8M	$323K	20x
Short	MEXC PIPPIN_USDT	0.01920	0.0100	get 0.0050% / 4h	2h 20m	$2.6M	$748K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Gate. 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 GatebpFee MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$69.72
Price spread: 0.000% → −0.030%: $3.03
Slippage, 4 orders: −$825.22
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 0 bp × 2 orders: $0
Net: −$906.91
Costs to cover: 8.402%
Break-even: never at this rate

Slippage from Gate: live order book, 2 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 Gate live order book, 2 min ago	5.24 bp	187.3 bp −$187	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	2.61 bp	12.3 bp −$12	97.6 bp −$976	222.8 bp −$22.3K	482.9 bp −$241.5K

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	0.01916	−0.192%	$111K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01919	−0.052%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01920	−0.010%	$5.4M	$5.2M	25x	as long as short
MEXC PIPPIN_USDTshort	+0.0100%	4h	0.01920	0.000%	$2.6M	$748K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01915	−0.260%	$1K	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01898	−1.146%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0146%	4h	0.01917	−0.156%	$258K	$27K	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0414%	4h	0.01923	+0.156%	$1.6M	$3.5M	20x	as long as short
Gate PIPPIN_USDTlong	+0.0432%	4h	0.01920	long leg	$1.8M	$323K	20x
Bitget PIPPINUSDT	+0.0800%	4h	0.01920	0.000%	$1.6M	$317K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PIPPINUSDT	+0.0956%	4h	0.01921	+0.052%	$3.7M	$1.5M	13x	as long as short
BingX PIPPIN-USDT	+0.0968%	4h	0.01920	0.000%	—	$1.3M	—	as long as short
KuCoin PIPPINUSDTM	+0.1084%	4h	0.01920	0.000%	$2.1M	$5.8M	25x	as long as short