Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.007%

Price spread now: MEXC against Aster−0.090%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−$69as in the Price arb table

costs, in and out, $10k−$590.586% of the position

Long on Aster Short on MEXC

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)+0.191%+$19 · spread now −0.090%, 7d avg +0.010%

Together, before fees+0.193%+ Points / potential airdropAster: Stage 5 · farm board+$19 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: MEXC is 0.099% cheaper against Aster than usual: you would sell low and buy high, −$10 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	Aster PIPPINUSDT	0.01892	0.0100	pay 0.0050% / 4h	3h 30m	$110K	$35K	5x
Short	MEXC PIPPIN_USDT	0.01890	0.0100	get 0.0050% / 4h	3h 30m	$2.7M	$785K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Aster. 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 AsterbpFee MEXCbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0
Price spread: −0.090% → +0.010%: −$9.93
Slippage, 4 orders: −$50.61
Fee Aster: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$68.55
Costs to cover: 0.586%
Break-even: never at this rate

Slippage from Aster: 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 Aster live order book, 1 min ago	5.29 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	2.64 bp	14.6 bp −$15	102.7 bp −$1,027	215.6 bp −$21.6K	412.0 bp −$206.0K

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	+0.0046%	4h	0.01892	+0.016%	$254K	$32K	25x	as long as short
Aster PIPPINUSDTlong	+0.0100%	4h	0.01892	long leg	$110K	$35K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01891	−0.048%	$18K	$5K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01890	−0.097%	$5.4M	$5.3M	25x	as long as short
Bybit PIPPINUSDT	+0.0100%	4h	0.01891	−0.037%	$3.6M	$1.5M	13x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01889	−0.143%	$1.5M	$3.5M	20x	as long as short
Gate PIPPIN_USDT	+0.0100%	4h	0.01890	−0.090%	$1.8M	$320K	20x	as long as short
MEXC PIPPIN_USDTshort	+0.0100%	4h	0.01890	−0.090%	$2.7M	$785K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01892	+0.016%	$859	$10.5M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01887	−0.248%	$34K	$14K	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	+0.0104%	4h	0.01892	+0.016%	$1.6M	$336K	10x	as long as short
BingX PIPPIN-USDT	+0.0140%	4h	0.01897	+0.280%	—	$1.4M	—	as long as short
KuCoin PIPPINUSDTM	+0.0342%	4h	0.01892	+0.016%	$2.1M	$6.5M	25x	as long as short