Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.059%

Price spread now: MEXC against SunX−0.052%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1551.554% of the position

Long on SunX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.417%+$42 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now −0.052%, 7d avg −0.097%

Together, before fees+0.339%+$34 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 0.045% dearer against SunX than usual: you sell high and buy low, +$4 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	SunX PIPPIN-USDT	0.01927	0.0100	pay 0.0050% / 4h	1h 45m	$2K	$10.4M	20x
Short	MEXC PIPPIN_USDT	0.01926	0.0100	get 0.0050% / 4h	1h 45m	$2.6M	$728K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against SunX. 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 SunXbpFee MEXCbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → −0.097%: $4.47
Slippage, 4 orders: −$147.45
Fee SunX: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$150.98
Costs to cover: 1.554%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; MEXC: 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 SunX live order book, 4 min ago	20.76 bp	63.4 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	2.59 bp	13.6 bp −$14	105.2 bp −$1,052	222.2 bp −$22.2K	508.0 bp −$254.0K

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	+0.0081%	4h	0.01926	−0.052%	$257K	$27K	25x	as long as short
Aster PIPPINUSDT	+0.0100%	4h	0.01927	−0.019%	$112K	$34K	5x	as long as short
Pacifica PIPPIN	+0.0100%	1h	0.01926	−0.036%	$18K	$9K	3x	as long as short
Binance PIPPINUSDT	+0.0100%	4h	0.01927	−0.019%	$5.5M	$5.2M	25x	as long as short
MEXC PIPPIN_USDTshort	+0.0100%	4h	0.01926	−0.052%	$2.6M	$728K	50x
SunX PIPPIN-USDTlong	+0.0100%	4h	0.01927	long leg	$2K	$10.4M	20x
HTX PIPPIN-USDT	+0.0100%	4h	0.01913	−0.727%	$35K	$14K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0426%	4h	0.01926	−0.052%	$1.6M	$3.5M	20x	as long as short
Gate PIPPIN_USDT	+0.0486%	4h	0.01927	0.000%	$1.8M	$325K	20x	as long as short
Bybit PIPPINUSDT	+0.0627%	4h	0.01926	−0.052%	$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	+0.0974%	4h	0.01925	−0.104%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.1006%	4h	0.01928	+0.052%	$1.6M	$319K	10x	as long as short
KuCoin PIPPINUSDTM	+0.1146%	4h	0.01927	0.000%	$2.2M	$5.9M	25x	as long as short