Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h −0.129%

Price spread now: MEXC against KuCoin−0.210%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$396as in the Funding arb table

Net, price: spread back to 7d avg − costs−$357as in the Price arb table

costs, in and out, $10k−$3463.460% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.502%−$50 on $10k

Price spread, last 7 days+0.114%+$11 · spread now −0.210%, 7d avg −0.097%

Together, before fees−0.388%−$39 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 0.113% cheaper against KuCoin than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PIPPINUSDTM	0.01904	0.0100	pay 0.0050% / 4h	22m 33s	$2.2M	$3.7M	25x
Short	MEXC PIPPIN_USDT	0.01900	0.0100	get 0.0050% / 4h	22m 33s	$2.5M	$748K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against KuCoin. 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 KuCoinbpFee MEXCbpOrdersPrice spread, now −0.210%Rate

Funding earned: $0
Price spread: −0.210% → −0.097%: −$11.34
Slippage, 4 orders: −$333.96
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$357.3
Costs to cover: 3.460%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 min ago; MEXC: live order book, 8 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 KuCoin live order book, 9 min ago	2.63 bp	267.1 bp −$267	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 8 min ago	2.63 bp	16.6 bp −$17	110.7 bp −$1,107	226.4 bp −$22.6K	436.7 bp −$218.3K

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	+0.0044%	4h	0.01903	−0.053%	$256K	$25K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01901	−0.154%	$111K	$32K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01900	−0.210%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01900	−0.210%	$5.4M	$4.5M	25x	as long as short
MEXC PIPPIN_USDTshort	+0.0100%	4h	0.01900	−0.210%	$2.5M	$748K	50x
KuCoin PIPPINUSDTMlong	+0.0100%	4h	0.01904	long leg	$2.2M	$3.7M	25x
Bitget PIPPINUSDT	+0.0100%	4h	0.01902	−0.105%	$1.6M	$357K	10x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01903	−0.053%	$2K	$9.6M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01891	−0.683%	$34K	$17K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0164%	4h	0.01901	−0.158%	$1.6M	$3.3M	20x	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	+0.0165%	4h	0.01902	−0.105%	—	$1.3M	—	as long as short
Bybit PIPPINUSDT	+0.0188%	4h	0.01903	−0.053%	$3.6M	$1.3M	13x	as long as short
Gate PIPPIN_USDT	+0.0566%	4h	0.01904	0.000%	$1.8M	$304K	20x	as long as short