Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0162%/8h= +17.8% APRpaid last 24h +0.026%

Price spread now: Binance against Backpack−0.023%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.199%+$20 on $10k

Price spread, last 4 days (all we have)−0.476%−$48 · spread now −0.023%, 7d avg +0.029%

Together, before fees−0.277%−$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.052% cheaper against Backpack than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.029%). If the spread goes back, that is −$5 on $10k: about 26 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PUMP_USDC_PERP	0.004317	−0.0062	get 0.0008% / 1h	5m 44s	$771K	$187K	5x
Short	Binance PUMPUSDT	0.004316	0.0100	get 0.0050% / 4h	3h 05m	$76.6M	$166.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.023%Rate

Funding earned: $34.12
Price spread: −0.023% → +0.029%: −$5.22
Slippage, 4 orders: −$17.96
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$9.07
Costs to cover: 0.380%
Break-even: 8.9 days

Slippage from Backpack: live order book, 23 min ago; Binance: live order book, 8 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 Backpack live order book, 23 min ago	0.81 bp	12.1 bp −$12	19.4 bp −$194	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	1.16 bp	9.3 bp −$9	17.0 bp −$170	51.3 bp −$5,130	246.0 bp −$123.0K

PUMP on 42 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
dYdX PUMP-USD	−0.5142%	1h	0.004319	+0.039%	$20K	$8K	5x	as long as short
Injective PUMP/USDC PERP	−0.0219%	1h	0.004317	−0.007%	$38K	$207K	12x	as long as short
Backpack PUMP_USDC_PERPlong	−0.0062%	1h	0.004317	long leg	$771K	$187K	5x
OKX PUMP-USDT-SWAP	−0.0034%	4h	0.004315	−0.053%	$22.6M	$95.5M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0011%	4h	0.004316	−0.030%	$41K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004317	−0.007%	$20K	$201K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004316	−0.030%	$70K	$125K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004317	−0.015%	$55K	—	150x	as long as short
01 Exchange PUMPUSD	+0.0072%	1h	0.004318	+0.016%	$6K	$497	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004316	−0.030%	$2.9M	$5.6M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.401%	$29K	$777K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004317	−0.010%	$41K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004319	+0.051%	$1.6M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004317	−0.011%	$784K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004318	+0.016%	$450K	$612K	10x	as long as short
Binance PUMPUSDTshort	+0.0100%	4h	0.004316	−0.023%	$76.6M	$166.3M	75x
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004319	+0.032%	$20K	$177K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004315	−0.053%	$42K	$57K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004315	−0.053%	$4.6M	$11.7M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004318	+0.016%	$22.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004315	−0.053%	$17.1M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004314	−0.076%	—	$13.0M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004296	−0.504%	$63K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004304	−0.305%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004295	−0.517%	$136K	$772K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004320	+0.063%	$110K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004316	−0.037%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004320	+0.063%	$2K	$711K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004314	−0.076%	$711	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004310	−0.169%	$21K	$146K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004310	−0.169%	$2.0M	$4.1M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004314	−0.075%	$3.5M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004314	−0.076%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0141%	1h	0.004317	0.000%	$492K	$1.0M	10x	as long as short
Hyperliquid PUMP	+0.0146%	1h	0.004323	+0.132%	$158.3M	$52.3M	10x	as long as short
Phoenix PUMP	+0.0167%	1h	0.004301	−0.373%	$38K	$100K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0192%	1h	0.004321	+0.086%	$656K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0305% / S −0.0223%	1h	0.004317	−0.007%	$67K	—	100x	as long as short
Aftermath Perps PUMPUSD	+0.0320%	1h	0.004310	−0.161%	$200	$105K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004314	−0.076%	$3.5M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004317	−0.015%	$2	—	3x	as long as short
Kraken Futures PF_PUMPUSD	+0.0694%	1h	0.004321	+0.079%	$1.3M	$3.5M	50x	as long as short