Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:20 UTC+0.0118%/8h= +13.0% APRpaid last 24h −0.017%

Price spread now: Perpl against Backpack+0.007%7-day average +0.055% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 3 days (all we have)+0.878%+$88 · spread now +0.007%, 7d avg +0.055%

Together, before fees+0.916%+ Points / potential airdropPerpl: Active · farm board+$92 on $10k · with fees, hour by hour

Funding pays, the price is against you. Perpl is 0.048% cheaper against Backpack than usual: you would sell low and buy high (spread +0.007% now, against its 7-day average of +0.055%). If the spread goes back, that is −$5 on $10k: about 33 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.038% in total) that is about 8.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PUMP_USDC_PERP	0.004335	−0.0230	get 0.0029% / 1h	18m 54s	$773K	$183K	5x
Short	Perpl PUMP	0.004335	−0.0112	pay 0.0010% / 43m	5m 54s	$20K	$206K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PerplbpOrdersPrice spread, now +0.007%Rate

Funding earned: $24.87
Price spread: +0.007% → +0.055%: −$4.82
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$3.75
Costs to cover: 0.238%
Break-even: 8.1 days

Slippage unknown: Backpack: live order book, 5 min ago; Perpl: no order-book sample. Net counts fees only.

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, 5 min ago	0.81 bp	12.2 bp −$12	21.2 bp −$212	doesn't fit	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.4705%	1h	0.004340	+0.116%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERPlong	−0.0230%	1h	0.004335	long leg	$773K	$183K	5x
Perpl PUMPshort	−0.0112%	43m	0.004335	+0.007%	$20K	$206K	20x
OKX PUMP-USDT-SWAP	−0.0070%	4h	0.004333	−0.039%	$22.7M	$96.1M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0023%	4h	0.004334	−0.016%	$41K	$10K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004337	+0.053%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004336	+0.024%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0078%	4h	0.004335	+0.007%	$4.6M	$11.7M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004334	−0.016%	$2.9M	$5.5M	10x	as long as short
01 Exchange PUMPUSD	+0.0096%	1h	0.004336	+0.030%	$6K	$497	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	−0.801%	$29K	$766K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004336	+0.027%	$42K	—	5x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004339	+0.099%	$159.1M	$52.4M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004333	−0.029%	$785K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004338	+0.076%	$450K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004334	−0.026%	$77.0M	$164.3M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004345	+0.226%	$26K	$179K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004335	+0.007%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004338	+0.076%	$22.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004334	−0.016%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004335	+0.007%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004341	+0.134%	$64K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004352	+0.394%	$1.2M	$9.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004342	+0.168%	$137K	$769K	50x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004335	+0.018%	$1.6M	$2.0M	10x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004339	+0.099%	$91K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004336	+0.036%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004336	+0.030%	$1K	$710K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004334	−0.016%	$715	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004335	+0.007%	$21K	$147K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004335	+0.007%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004334	−0.015%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004333	−0.039%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004337	+0.053%	$492K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004348	+0.316%	$39K	$99K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004343	+0.191%	$659K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0307% / S −0.0225%	1h	0.004335	+0.007%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004334	−0.016%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004335	+0.014%	$2	—	3x	as long as short
Aftermath Perps PUMPUSD	+0.0345%	1h	0.004338	+0.072%	$180	$106K	10x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	−0.247%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0684%	1h	0.004341	+0.145%	$1.3M	$3.5M	50x	as long as short