PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0036%/8h= −3.9% APRnext payment −$0.18 per $10,000 · paid last 24h +0.079%

Price spread now: BingX against MEXC+0.159%7-day average +0.109% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$690.690% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.684%+$68 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.159%, 7d avg +0.109%

Together, before fees+0.633%+$63 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.049% dearer against MEXC than usual: you sell high and buy low (spread +0.159% now, against its 7-day average of +0.109%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.6 days. Mind the row above: over the last 7 days funding on this pair paid +0.684%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PIPPIN_USDT	0.01892	0.0954	pay 0.0477% / 4h	1h 49m	$3.0M	$727K	50x
Short	BingX PIPPIN-USDT	0.01895	0.0918	get 0.0459% / 4h	1h 49m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.159%Rate

Funding earned: −$7.56
Price spread: +0.159% → +0.109%: $4.95
Slippage, 4 orders: −$58.97
Fee MEXC: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$71.58
Costs to cover: 0.690%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; BingX: live order book, 10 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	13.5 bp −$13	114.0 bp −$1,140	218.1 bp −$21.8K	398.7 bp −$199.3K
Sell BingX live order book, 10 min ago	5.26 bp	19.8 bp −$20	131.0 bp −$1,310	264.0 bp −$26.4K	doesn't fit

PIPPIN on 13 exchanges

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	0.01896	+0.211%	$1.6M	$261K	10x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01896	+0.211%	$332	$9.0M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01888	−0.211%	$34K	$5K	20x	as long as short
Pacifica PIPPIN	+0.0148%	1h	0.01893	+0.053%	$18K	$4K	3x	as long as short
Bybit PIPPINUSDT	+0.0152%	4h	0.01894	+0.106%	$3.6M	$1.3M	13x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0193%	4h	0.01891	−0.053%	$1.5M	$2.7M	20x	as long as short
KuCoin PIPPINUSDTM	+0.0304%	4h	0.01894	+0.106%	$2.1M	$6.8M	25x	as long as short
Gate PIPPIN_USDT	+0.0624%	4h	0.01893	+0.053%	$1.8M	$283K	20x	as long as short
Aster PIPPINUSDT	+0.0914%	4h	0.01893	+0.034%	$110K	$35K	5x	as long as short
BingX PIPPIN-USDTshort	+0.0918%	4h	0.01895	+0.159%	—	$1.3M	—

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PIPPINUSDT	+0.0942%	4h	0.01892	+0.015%	$5.4M	$4.5M	25x	as long as short
MEXC PIPPIN_USDTlong	+0.0954%	4h	0.01892	long leg	$3.0M	$727K	50x
BloFin PIPPIN-USDT	+0.1009%	4h	0.01896	+0.211%	$254K	$31K	25x	as long as short