PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0340%/8h= +37.2% APRnext payment +$1.70 per $10,000 · paid last 24h +0.024%

Price spread now: Gate against MEXC−0.104%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$853as in the Funding arb table

Net, price: spread back to 7d avg − costs−$854as in the Price arb table

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

Long on MEXC Short on Gate

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+0.095%+$9 · spread now −0.104%, 7d avg +0.030%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.135% cheaper against MEXC than usual: you would sell low and buy high (spread −0.104% now, against its 7-day average of +0.030%). If the spread goes back, that is −$13 on $10k: about 32 hours of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.125%, 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 -0.125% in total (about -6.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.70 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	0.01916	0.0100	pay 0.0050% / 4h	2h 21m	$2.6M	$748K	50x
Short	Gate PIPPIN_USDT	0.01914	0.0440	get 0.0220% / 4h	2h 21m	$1.8M	$323K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.104%Rate

Funding earned: $71.4
Price spread: −0.104% → +0.030%: −$13.47
Slippage, 4 orders: −$825.22
Fee MEXC: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$782.3
Costs to cover: 8.402%
Break-even: 83.7 days

Slippage from MEXC: live order book, 1 min ago; Gate: 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 MEXC live order book, 1 min ago	2.61 bp	12.9 bp −$13	122.4 bp −$1,224	228.6 bp −$22.9K	487.5 bp −$243.7K
Sell Gate live order book, 1 min ago	5.24 bp	627.7 bp −$628	doesn't fit	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
Aster PIPPINUSDT	+0.0100%	4h	0.01914	−0.122%	$111K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01914	−0.104%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01916	0.000%	$5.4M	$5.2M	25x	as long as short
MEXC PIPPIN_USDTlong	+0.0100%	4h	0.01916	long leg	$2.6M	$748K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01915	−0.052%	$1K	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01898	−0.939%	$34K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0146%	4h	0.01917	+0.052%	$258K	$27K	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0416%	4h	0.01918	+0.104%	$1.6M	$3.5M	20x	as long as short
Gate PIPPIN_USDTshort	+0.0440%	4h	0.01914	−0.104%	$1.8M	$323K	20x
Bitget PIPPINUSDT	+0.0780%	4h	0.01920	+0.209%	$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	+0.0968%	4h	0.01920	+0.209%	—	$1.3M	—	as long as short
Bybit PIPPINUSDT	+0.0977%	4h	0.01916	0.000%	$3.7M	$1.5M	13x	as long as short
KuCoin PIPPINUSDTM	+0.1082%	4h	0.01914	−0.104%	$2.1M	$5.8M	25x	as long as short