Funding arb · Price arb /

PIPPIN

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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: Aster against MEXC+0.035%7-day average −0.010% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$590.586% 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)−0.137%−$14 · spread now +0.035%, 7d avg −0.010%

Together, before fees−0.139%+ Points / potential airdropAster: Stage 5 · farm board−$14 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 0.045% dearer against MEXC than usual: you sell high and buy low, +$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	0.01891	0.0100	pay 0.0050% / 4h	3h 29m	$2.7M	$785K	50x
Short	Aster PIPPINUSDT	0.01892	0.0100	get 0.0050% / 4h	3h 29m	$110K	$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 +0.035%Rate

Funding earned: $0
Price spread: +0.035% → −0.010%: $4.47
Slippage, 4 orders: −$50.61
Fee MEXC: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$54.14
Costs to cover: 0.586%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Aster: 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 MEXC live order book, 1 min ago	2.64 bp	12.1 bp −$12	109.3 bp −$1,093	213.8 bp −$21.4K	411.8 bp −$205.9K
Sell Aster live order book, 1 min ago	5.29 bp	17.8 bp −$18	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	+0.0046%	4h	0.01892	+0.053%	$254K	$32K	25x	as long as short
Aster PIPPINUSDTshort	+0.0100%	4h	0.01892	+0.035%	$110K	$35K	5x
Pacifica PIPPIN	+0.0100%	1h	0.01891	−0.011%	$18K	$5K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01890	−0.053%	$5.4M	$5.3M	25x	as long as short
Bybit PIPPINUSDT	+0.0100%	4h	0.01892	+0.053%	$3.6M	$1.5M	13x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01890	−0.053%	$1.5M	$3.5M	20x	as long as short
Gate PIPPIN_USDT	+0.0100%	4h	0.01890	−0.053%	$1.8M	$320K	20x	as long as short
MEXC PIPPIN_USDTlong	+0.0100%	4h	0.01891	long leg	$2.7M	$785K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01892	+0.053%	$859	$10.5M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01887	−0.212%	$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	+0.053%	$1.6M	$336K	10x	as long as short
BingX PIPPIN-USDT	+0.0140%	4h	0.01897	+0.317%	—	$1.4M	—	as long as short
KuCoin PIPPINUSDTM	+0.0342%	4h	0.01891	0.000%	$2.1M	$6.5M	25x	as long as short