Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.032%

Price spread now: Phemex against Backpack−0.043%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$920.918% of the position

Long on Backpack Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.246%+$25 on $10k

Price spread, last 3 days (all we have)+0.083%+$8 · spread now −0.043%, 7d avg +0.034%

Together, before fees+0.328%+$33 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: Phemex is 0.077% cheaper against Backpack than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PUMP_USDC_PERP	0.004388	0.0100	pay 0.0013% / 1h	0m 50s	$782K	$183K	5x
Short	Phemex PUMPUSDT	0.004386	0.0100	get 0.0050% / 4h	1h 00m	$2.0M	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.043%Rate

Funding earned: $0
Price spread: −0.043% → +0.034%: −$7.71
Slippage, 4 orders: −$69.84
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$99.55
Costs to cover: 0.918%
Break-even: never at this rate

Slippage from Backpack: live order book, 18 min ago; Phemex: live order book, 3 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, 18 min ago	1.50 bp	9.2 bp −$9	15.7 bp −$157	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	11.43 bp	35.0 bp −$35	doesn't fit	doesn't fit	doesn't fit

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	−0.3347%	1h	0.004385	−0.060%	$20K	$9K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0029%	4h	0.004391	+0.071%	$23.0M	$96.9M	50x	as long as short
Orderly PERP_PUMP_USDC	0.0000%	4h	0.004384	−0.089%	$41K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004382	−0.134%	$20K	$202K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004384	−0.083%	$55K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004383	−0.112%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−2.003%	$29K	$764K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004386	−0.042%	$42K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004382	−0.123%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004398	+0.230%	$161.6M	$52.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PUMPUSDT	+0.0100%	4h	0.004389	+0.018%	$781K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004384	−0.089%	$454K	$603K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004392	+0.083%	$78.3M	$164.0M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004357	−0.695%	$26K	$174K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004384	−0.089%	$42K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004389	+0.025%	$4.7M	$11.8M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004392	+0.093%	$23.2M	$13.8M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004392	+0.093%	$17.4M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004390	+0.048%	—	$12.8M	—	as long as short
Backpack PUMP_USDC_PERPlong	+0.0100%	1h	0.004388	long leg	$782K	$183K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004373	−0.329%	$65K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004362	−0.601%	$1.2M	$9.8M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004375	−0.294%	$138K	$766K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004388	+0.002%	$86K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004383	−0.116%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004387	−0.021%	$2K	$715K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004383	−0.112%	$723	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004381	−0.157%	$22K	$138K	20x	as long as short
Phemex PUMPUSDTshort	+0.0100%	4h	0.004386	−0.043%	$2.0M	$4.0M	20x
Extended PUMP-USD	+0.0104%	1h	0.004390	+0.039%	$3.6M	$3.8M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004383	−0.112%	$72K	$18K	3x	as long as short
01 Exchange PUMPUSD	+0.0120%	1h	0.004387	−0.021%	$6K	$497	10x	as long as short
RISEx PUMP/USDC	+0.0147%	1h	0.004385	−0.056%	$489K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0185%	1h	0.004380	−0.173%	$39K	$99K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0206%	1h	0.004384	−0.089%	$70K	$126K	25x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0280%	1h	0.004390	+0.048%	$681K	$5.5M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0314% / S −0.0229%	1h	0.004384	−0.089%	$68K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004391	+0.071%	$3.5M	$3.9M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004384	−0.091%	$2	—	3x	as long as short
Aftermath Perps PUMPUSD	+0.0423%	1h	0.004367	−0.482%	$182	$106K	10x	as long as short
Injective PUMP/USDC PERP	+0.0652%	1h	0.004387	−0.021%	$39K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0797%	1h	0.004388	+0.008%	$1.3M	$3.5M	50x	as long as short