PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0356%/8h= −39.0% APRnext payment −$1.78 per $10,000 · paid last 24h −0.016%

Price spread now: MEXC against Gate0.000%7-day average −0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$864as in the Funding arb table

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

costs, in and out, $10k−$8798.788% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 7 days−0.068%−$7 · spread now 0.000%, 7d avg −0.034%

Together, before fees+0.076%+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.034% dearer against Gate than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.034%): +$3 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 7 days funding on this pair paid +0.144%, 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 0.144% in total (about 7.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.78 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	0.01891	0.0750	pay 0.0375% / 4h	1h 58m	$1.8M	$299K	20x
Short	MEXC PIPPIN_USDT	0.01891	0.0394	get 0.0197% / 4h	1h 58m	$2.6M	$746K	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 0.000%Rate

Funding earned: −$74.76
Price spread: 0.000% → −0.034%: $3.43
Slippage, 4 orders: −$863.81
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 0 bp × 2 orders: $0
Net: −$950.13
Costs to cover: 8.788%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; MEXC: live order book, 3 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, 4 min ago	5.29 bp	240.9 bp −$241	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	5.29 bp	14.4 bp −$14	90.6 bp −$906	223.9 bp −$22.4K	480.5 bp −$240.2K

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
Bitget PIPPINUSDT	+0.0100%	4h	0.01890	−0.053%	$1.6M	$350K	10x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01892	+0.053%	$2K	$9.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01885	−0.317%	$34K	$16K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0121%	4h	0.01894	+0.159%	$1.6M	$3.2M	20x	as long as short
Pacifica PIPPIN	+0.0134%	1h	0.01891	−0.026%	$18K	$9K	3x	as long as short
Aster PIPPINUSDT	+0.0167%	4h	0.01895	+0.222%	$110K	$32K	5x	as long as short
KuCoin PIPPINUSDTM	+0.0290%	4h	0.01893	+0.106%	$2.1M	$3.3M	25x	as long as short
Binance PIPPINUSDT	+0.0368%	4h	0.01892	+0.053%	$5.3M	$4.6M	25x	as long as short
MEXC PIPPIN_USDTshort	+0.0394%	4h	0.01891	0.000%	$2.6M	$746K	50x
BloFin PIPPIN-USDT	+0.0424%	4h	0.01891	0.000%	$251K	$27K	25x	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	+0.0582%	4h	0.01894	+0.159%	—	$1.3M	—	as long as short
Bybit PIPPINUSDT	+0.0613%	4h	0.01893	+0.106%	$3.6M	$1.3M	13x	as long as short
Gate PIPPIN_USDTlong	+0.0750%	4h	0.01891	long leg	$1.8M	$299K	20x