PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1300%/8h= −142.3% APRnext payment −$6.50 per $10,000 · paid last 24h +0.004%

Price spread now: MEXC against Bitget−0.316%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$650.651% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.173%−$17 on $10k

Price spread, last 7 days+0.249%+$25 · spread now −0.316%, 7d avg −0.064%

Together, before fees+0.075%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$39 a day on $10k at the current rate, and MEXC is 0.253% cheaper against Bitget than usual: you would sell low and buy high (−$25 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 -0.173% in total (about -9.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.50 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	0.01897	0.1400	pay 0.0700% / 4h	1h 05m	$1.6M	$320K	10x
Short	MEXC PIPPIN_USDT	0.01891	0.0100	get 0.0050% / 4h	1h 05m	$2.4M	$730K	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 −0.316%Rate

Funding earned: −$273
Price spread: −0.316% → −0.064%: −$25.25
Slippage, 4 orders: −$53.05
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$363.3
Costs to cover: 0.651%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 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 Bitget live order book, 1 min ago	5.27 bp	22.2 bp −$22	272.7 bp −$2,727	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	2.64 bp	10.2 bp −$10	90.3 bp −$903	203.6 bp −$20.4K	423.1 bp −$211.6K

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	−0.0778%	1h	0.01891	−0.295%	$18K	$9K	3x	as long as short
BloFin PIPPIN-USDT	+0.0074%	4h	0.01898	+0.053%	$251K	$25K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01902	+0.253%	$111K	$33K	5x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01892	−0.264%	$5.4M	$4.8M	25x	as long as short
MEXC PIPPIN_USDTshort	+0.0100%	4h	0.01891	−0.316%	$2.4M	$730K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01894	−0.158%	$803	$10.1M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01884	−0.685%	$34K	$14K	20x	as long as short
Bybit PIPPINUSDT	+0.0100%	4h	0.01892	−0.264%	$3.6M	$1.4M	13x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0224%	4h	0.01892	−0.264%	$1.5M	$3.3M	20x	as long as short
Gate PIPPIN_USDT	+0.0370%	4h	0.01892	−0.264%	$1.8M	$304K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.1172%	4h	0.01893	−0.211%	$2.1M	$4.9M	25x	as long as short
Bitget PIPPINUSDTlong	+0.1400%	4h	0.01897	long leg	$1.6M	$320K	10x
BingX PIPPIN-USDT	+0.1404%	4h	0.01896	−0.053%	—	$1.3M	—	as long as short