PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0317%/8h= −34.7% APRnext payment −$1.58 per $10,000 · paid last 24h −0.026%

Price spread now: OKX against MEXC+0.158%7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

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

costs, in and out, $10k−$800.799% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 7 days−0.139%−$14 · spread now +0.158%, 7d avg +0.110%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.048% dearer against MEXC than usual: you sell high and buy low (spread +0.158% now, against its 7-day average of +0.110%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 12 hours. Mind the row above: over the last 7 days funding on this pair paid +0.122%, 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 0.122% in total (about 6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.58 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	0.01893	0.0488	pay 0.0244% / 4h	2h 10m	$2.6M	$779K	50x
Short	OKX PIPPIN-USDT-SWAP	0.01896	0.0171	get 0.0086% / 4h	2h 10m	$1.6M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.158%Rate

Funding earned: −$66.54
Price spread: +0.158% → +0.110%: $4.82
Slippage, 4 orders: −$69.94
Fee MEXC: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$141.67
Costs to cover: 0.799%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; OKX: 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, 6 min ago	2.63 bp	14.2 bp −$14	123.4 bp −$1,234	235.6 bp −$23.6K	536.9 bp −$268.4K
Sell OKX live order book, 1 min ago	5.28 bp	20.7 bp −$21	170.1 bp −$1,701	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
Bitget PIPPINUSDT	+0.0100%	4h	0.01899	+0.317%	$1.6M	$349K	10x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01896	+0.158%	$2K	$9.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01886	−0.370%	$34K	$16K	20x	as long as short
Pacifica PIPPIN	+0.0134%	1h	0.01893	0.000%	$18K	$9K	3x	as long as short
OKX PIPPIN-USDT-SWAPshort	+0.0171%	4h	0.01896	+0.158%	$1.6M	$3.3M	20x
Aster PIPPINUSDT	+0.0311%	4h	0.01899	+0.317%	$110K	$32K	5x	as long as short
KuCoin PIPPINUSDTM	+0.0348%	4h	0.01896	+0.158%	$2.1M	$3.2M	25x	as long as short
Binance PIPPINUSDT	+0.0461%	4h	0.01892	−0.036%	$5.3M	$4.6M	25x	as long as short
MEXC PIPPIN_USDTlong	+0.0488%	4h	0.01893	long leg	$2.6M	$779K	50x
BloFin PIPPIN-USDT	+0.0516%	4h	0.01896	+0.158%	$250K	$27K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PIPPINUSDT	+0.0728%	4h	0.01893	0.000%	$3.6M	$1.3M	13x	as long as short
BingX PIPPIN-USDT	+0.0788%	4h	0.01895	+0.106%	—	$1.3M	—	as long as short
Gate PIPPIN_USDT	+0.0974%	4h	0.01895	+0.106%	$1.8M	$306K	20x	as long as short