PIPPIN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0276%/8h= −30.3% APRnext payment −$1.38 per $10,000 · paid last 24h +0.009%

Price spread now: MEXC against OKX−0.052%7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$710.706% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.129%−$13 on $10k

Price spread, last 7 days−0.026%−$3 · spread now −0.052%, 7d avg −0.111%

Together, before fees−0.155%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.058% dearer against OKX than usual: you sell high and buy low (spread −0.052% now, against its 7-day average of −0.111%): +$6 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.129% in total) that is about 3.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.129% in total (about -6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.38 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	OKX PIPPIN-USDT-SWAP	0.01918	0.0376	pay 0.0188% / 4h	1h 14m	$1.5M	$3.5M	20x
Short	MEXC PIPPIN_USDT	0.01917	0.0100	get 0.0050% / 4h	1h 14m	$2.6M	$755K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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 OKXbpFee MEXCbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$58.02
Price spread: −0.052% → −0.111%: $5.84
Slippage, 4 orders: −$60.63
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$122.82
Costs to cover: 0.706%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; MEXC: live order book, 2 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 OKX live order book, 2 min ago	2.61 bp	24.9 bp −$25	145.4 bp −$1,454	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	2.61 bp	10.4 bp −$10	62.0 bp −$620	226.3 bp −$22.6K	495.6 bp −$247.8K

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
Aster PIPPINUSDT	+0.0100%	4h	0.01916	−0.086%	$112K	$33K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01917	−0.052%	$18K	$6K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01917	−0.031%	$5.4M	$5.3M	25x	as long as short
MEXC PIPPIN_USDTshort	+0.0100%	4h	0.01917	−0.052%	$2.6M	$755K	50x
SunX PIPPIN-USDT	+0.0100%	4h	0.01920	+0.104%	$2K	$10.4M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01912	−0.313%	$35K	$14K	20x	as long as short
BloFin PIPPIN-USDT	+0.0134%	4h	0.01918	0.000%	$256K	$27K	25x	as long as short
OKX PIPPIN-USDT-SWAPlong	+0.0376%	4h	0.01918	long leg	$1.5M	$3.5M	20x
Gate PIPPIN_USDT	+0.0380%	4h	0.01916	−0.104%	$1.8M	$327K	20x	as long as short
Bybit PIPPINUSDT	+0.0481%	4h	0.01918	0.000%	$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	0.01922	+0.209%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.0956%	4h	0.01918	0.000%	$1.6M	$320K	10x	as long as short
KuCoin PIPPINUSDTM	+0.1060%	4h	0.01918	0.000%	$2.1M	$6.0M	25x	as long as short