Funding arb · Price arb /

PIPPIN

all PIPPIN markets

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 −0.011%

Price spread now: BloFin against MEXC−0.104%7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$620.618% of the position

Long on MEXC Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 4 days (all we have)+0.223%+$22 · spread now −0.104%, 7d avg +0.055%

Together, before fees+0.208%+$21 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: BloFin is 0.158% cheaper against MEXC than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PIPPIN_USDT	0.01931	0.0100	pay 0.0050% / 4h	1h 41m	$2.6M	$730K	50x
Short	BloFin PIPPIN-USDT	0.01929	0.0100	get 0.0050% / 4h	1h 41m	$257K	$27K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.104%Rate

Funding earned: $0.06
Price spread: −0.104% → +0.055%: −$15.83
Slippage, 4 orders: −$49.81
Fee MEXC: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$77.58
Costs to cover: 0.618%
Break-even: 8489.9 days

Slippage from MEXC: live order book, 6 min ago; BloFin: live order book, 35 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	2.59 bp	15.4 bp −$15	138.2 bp −$1,382	227.0 bp −$22.7K	527.4 bp −$263.7K
Sell BloFin live order book, 35 min ago	7.83 bp	17.3 bp −$17	102.6 bp −$1,026	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	0.01929	−0.100%	$113K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01929	−0.104%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01931	+0.016%	$5.5M	$5.2M	25x	as long as short
MEXC PIPPIN_USDTlong	+0.0100%	4h	0.01931	long leg	$2.6M	$730K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01937	+0.311%	$752	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01913	−0.932%	$35K	$14K	20x	as long as short
BloFin PIPPIN-USDTshort	+0.0100%	4h	0.01929	−0.104%	$257K	$27K	25x
OKX PIPPIN-USDT-SWAP	+0.0470%	4h	0.01933	+0.104%	$1.6M	$3.5M	20x	as long as short
Gate PIPPIN_USDT	+0.0524%	4h	0.01931	0.000%	$1.8M	$325K	20x	as long as short
Bybit PIPPINUSDT	+0.0779%	4h	0.01933	+0.104%	$3.7M	$1.5M	13x	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	+0.0954%	4h	0.01930	−0.052%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.1014%	4h	0.01932	+0.052%	$1.6M	$321K	10x	as long as short
KuCoin PIPPINUSDTM	+0.1170%	4h	0.01932	+0.052%	$2.2M	$5.9M	25x	as long as short