PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0055%/8h= −6.0% APRnext payment −$0.28 per $10,000 · paid last 24h −0.011%

Price spread now: BloFin against MEXC+0.365%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$610.610% of the position

Long on MEXC Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 4 days (all we have)−0.245%−$25 · spread now +0.365%, 7d avg +0.055%

Together, before fees−0.260%−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.310% dearer against MEXC than usual: you sell high and buy low (spread +0.365% now, against its 7-day average of +0.055%): +$31 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 19 days. At the pace of the last 7 days (−0.015% in total) that is about 5 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PIPPIN_USDT	0.01917	0.0100	pay 0.0050% / 4h	1h 16m	$2.6M	$755K	50x
Short	BloFin PIPPIN-USDT	0.01924	0.0045	get 0.0022% / 4h	1h 16m	$256K	$27K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.365%Rate

Funding earned: −$11.56
Price spread: +0.365% → +0.055%: $31.04
Slippage, 4 orders: −$48.95
Fee MEXC: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$41.47
Costs to cover: 0.610%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; BloFin: live order book, 60 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, 5 min ago	2.60 bp	12.2 bp −$12	138.6 bp −$1,386	223.2 bp −$22.3K	437.3 bp −$218.6K
Sell BloFin live order book, 60 min ago	7.83 bp	17.3 bp −$17	102.6 bp −$1,026	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-USDTshort	+0.0045%	4h	0.01924	+0.365%	$256K	$27K	25x
Aster PIPPINUSDT	+0.0100%	4h	0.01917	0.000%	$112K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01917	0.000%	$18K	$6K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01917	+0.020%	$5.4M	$5.3M	25x	as long as short
MEXC PIPPIN_USDTlong	+0.0100%	4h	0.01917	long leg	$2.6M	$755K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01921	+0.209%	$184	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01911	−0.313%	$35K	$14K	20x	as long as short
Gate PIPPIN_USDT	+0.0390%	4h	0.01918	+0.052%	$1.8M	$327K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0390%	4h	0.01917	0.000%	$1.5M	$3.5M	20x	as long as short
Bybit PIPPINUSDT	+0.0499%	4h	0.01919	+0.104%	$3.7M	$1.5M	13x	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	+0.0950%	4h	0.01919	+0.104%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.0968%	4h	0.01919	+0.104%	$1.6M	$320K	10x	as long as short
KuCoin PIPPINUSDTM	+0.1072%	4h	0.01920	+0.156%	$2.1M	$6.0M	25x	as long as short