PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0342%/8h= +37.4% APRnext payment +$1.71 per $10,000 · paid last 24h −0.057%

Price spread now: Bybit against MEXC+0.105%7-day average +0.160% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$610.614% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$17 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.105%, 7d avg +0.160%

Together, before fees−0.194%−$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.055% cheaper against MEXC than usual: you would sell low and buy high (spread +0.105% now, against its 7-day average of +0.160%). If the spread goes back, that is −$5 on $10k: about 13 hours of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.175%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.175% in total (about -9.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.71 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	MEXC PIPPIN_USDT	0.01896	0.0348	pay 0.0174% / 4h	1h 34m	$2.6M	$748K	50x
Short	Bybit PIPPINUSDT	0.01898	0.0690	get 0.0345% / 4h	1h 34m	$3.6M	$1.4M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now +0.105%Rate

Funding earned: $71.79
Price spread: +0.105% → +0.160%: −$5.45
Slippage, 4 orders: −$50.38
Fee MEXC: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $4.96
Costs to cover: 0.614%
Break-even: 6.5 days

Slippage from MEXC: live order book, 2 min ago; Bybit: live order book, 3 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 MEXC live order book, 2 min ago	2.63 bp	12.6 bp −$13	129.9 bp −$1,299	224.1 bp −$22.4K	432.3 bp −$216.2K
Sell Bybit live order book, 3 min ago	2.63 bp	18.3 bp −$18	156.0 bp −$1,560	doesn't fit	doesn't fit

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
Pacifica PIPPIN	+0.0100%	1h	0.01897	+0.058%	$18K	$9K	3x	as long as short
Bitget PIPPINUSDT	+0.0100%	4h	0.01898	+0.105%	$1.6M	$339K	10x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01899	+0.158%	$1K	$9.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01884	−0.633%	$34K	$16K	20x	as long as short
Aster PIPPINUSDT	+0.0146%	4h	0.01897	+0.046%	$110K	$32K	5x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0160%	4h	0.01898	+0.105%	$1.6M	$3.3M	20x	as long as short
BloFin PIPPIN-USDT	+0.0327%	4h	0.01896	0.000%	$249K	$27K	25x	as long as short
MEXC PIPPIN_USDTlong	+0.0348%	4h	0.01896	long leg	$2.6M	$748K	50x
Binance PIPPINUSDT	+0.0349%	4h	0.01897	+0.051%	$5.3M	$4.6M	25x	as long as short
KuCoin PIPPINUSDTM	+0.0526%	4h	0.01899	+0.158%	$2.1M	$3.4M	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PIPPINUSDTshort	+0.0690%	4h	0.01898	+0.105%	$3.6M	$1.4M	13x
Gate PIPPIN_USDT	+0.0714%	4h	0.01898	+0.105%	$1.8M	$302K	20x	as long as short
BingX PIPPIN-USDT	+0.0744%	4h	0.01898	+0.105%	—	$1.3M	—	as long as short