Funding arb · Price arb /

PIPPIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.015%

Price spread now: Aster against MEXC−0.052%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$640.642% of the position

Long on MEXC Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now −0.052%, 7d avg −0.010%

Together, before fees−0.060%+ Points / potential airdropAster: Stage 5 · farm board−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.043% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PIPPIN_USDT	0.01906	0.0100	pay 0.0050% / 4h	16m 53s	$2.7M	$767K	50x
Short	Aster PIPPINUSDT	0.01905	0.0100	get 0.0050% / 4h	16m 53s	$111K	$35K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → −0.010%: −$4.27
Slippage, 4 orders: −$56.2
Fee MEXC: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$68.47
Costs to cover: 0.642%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Aster: live order book, 19 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, 5 min ago	5.25 bp	12.7 bp −$13	104.5 bp −$1,045	227.7 bp −$22.8K	462.2 bp −$231.1K
Sell Aster live order book, 19 min ago	5.26 bp	16.6 bp −$17	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
BloFin PIPPIN-USDT	+0.0075%	4h	0.01908	+0.105%	$255K	$32K	25x	as long as short
Aster PIPPINUSDTshort	+0.0100%	4h	0.01905	−0.052%	$111K	$35K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01906	−0.005%	$18K	$5K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01907	+0.028%	$5.4M	$5.3M	25x	as long as short
Bybit PIPPINUSDT	+0.0100%	4h	0.01905	−0.052%	$3.6M	$1.5M	13x	as long as short
MEXC PIPPIN_USDTlong	+0.0100%	4h	0.01906	long leg	$2.7M	$767K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01908	+0.105%	$2K	$10.5M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01900	−0.315%	$34K	$14K	20x	as long as short
Gate PIPPIN_USDT	+0.0150%	4h	0.01904	−0.105%	$1.8M	$329K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0172%	4h	0.01907	+0.052%	$1.5M	$3.5M	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PIPPINUSDT	+0.0312%	4h	0.01908	+0.105%	$1.6M	$324K	10x	as long as short
BingX PIPPIN-USDT	+0.0336%	4h	0.01907	+0.052%	—	$1.4M	—	as long as short
KuCoin PIPPINUSDTM	+0.0516%	4h	0.01903	−0.157%	$2.1M	$6.3M	25x	as long as short