PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0278%/8h= −30.4% APRnext payment −$1.39 per $10,000 · paid last 24h −0.033%

Price spread now: MEXC against Gate−0.105%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$856as in the Funding arb table

Net, price: spread back to 7d avg − costs−$875as in the Price arb table

costs, in and out, $10k−$8688.680% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 7 days+0.066%+$7 · spread now −0.105%, 7d avg −0.032%

Together, before fees+0.188%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and MEXC is 0.073% cheaper against Gate than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.032%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.121%, 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 0.121% in total (about 6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.39 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	0.01904	0.0378	pay 0.0189% / 4h	3h 42m	$1.8M	$319K	20x
Short	MEXC PIPPIN_USDT	0.01902	0.0100	get 0.0050% / 4h	3h 42m	$2.7M	$782K	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 −0.105%Rate

Funding earned: −$58.38
Price spread: −0.105% → −0.032%: −$7.33
Slippage, 4 orders: −$852.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 0 bp × 2 orders: $0
Net: −$933.71
Costs to cover: 8.680%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; MEXC: live order book, 5 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, 5 min ago	5.25 bp	190.9 bp −$191	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	2.62 bp	11.9 bp −$12	67.8 bp −$678	216.0 bp −$21.6K	464.5 bp −$232.2K

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
BloFin PIPPIN-USDT	+0.0075%	4h	0.01909	+0.263%	$255K	$32K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01903	−0.053%	$111K	$35K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01902	−0.121%	$18K	$5K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01904	−0.023%	$5.4M	$5.3M	25x	as long as short
MEXC PIPPIN_USDTshort	+0.0100%	4h	0.01902	−0.105%	$2.7M	$782K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01906	+0.105%	$741	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01899	−0.263%	$34K	$14K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0134%	4h	0.01904	0.000%	$1.5M	$3.5M	20x	as long as short
Bybit PIPPINUSDT	+0.0188%	4h	0.01905	+0.053%	$3.6M	$1.5M	13x	as long as short
Bitget PIPPINUSDT	+0.0202%	4h	0.01904	0.000%	$1.6M	$330K	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	+0.0216%	4h	0.01906	+0.105%	—	$1.4M	—	as long as short
Gate PIPPIN_USDTlong	+0.0378%	4h	0.01904	long leg	$1.8M	$319K	20x
KuCoin PIPPINUSDTM	+0.0446%	4h	0.01904	0.000%	$2.1M	$6.4M	25x	as long as short