PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0359%/8h= +39.4% APRnext payment +$0.45 per $10,000 · paid last 24h +0.065%

Price spread now: Phoenix against Backpack+0.316%7-day average +0.156% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$540.542% of the position

Long on Backpack Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.324%+$32 on $10k

Price spread, last 3 days (all we have)+0.966%+$97 · spread now +0.316%, 7d avg +0.156%

Together, before fees+1.290%+$129 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phoenix is 0.160% dearer against Backpack than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.156%.

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 33s	$773K	$183K	5x
Short	Phoenix PUMP	0.004348	0.0129	get 0.0016% / 1h	18m 33s	$39K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.316%Rate

Funding earned: $75.49
Price spread: +0.316% → +0.156%: $16.03
Slippage, 4 orders: −$37.15
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $37.37
Costs to cover: 0.542%
Break-even: 3.5 days

Slippage from Backpack: live order book, 5 min ago; Phoenix: live order book, 62 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, 5 min ago	0.81 bp	12.2 bp −$12	21.2 bp −$212	doesn't fit	doesn't fit
Sell Phoenix live order book, 62 min ago	2.09 bp	16.2 bp −$16	50.4 bp −$504	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	−0.4815%	1h	0.004335	+0.005%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERPlong	−0.0230%	1h	0.004335	long leg	$773K	$183K	5x
Perpl PUMP	−0.0112%	43m	0.004333	−0.039%	$20K	$206K	20x	as long as short
OKX PUMP-USDT-SWAP	−0.0070%	4h	0.004332	−0.062%	$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	+0.0070%	4h	0.004334	−0.016%	$4.6M	$11.7M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004333	−0.039%	$2.9M	$5.5M	10x	as long as short
01 Exchange PUMPUSD	+0.0096%	1h	0.004334	−0.016%	$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	0.004333	−0.029%	$42K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004333	−0.028%	$1.6M	$2.0M	10x	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	−0.042%	$785K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004335	+0.007%	$449K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004333	−0.039%	$77.0M	$164.2M	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	0.004333	−0.039%	$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	0.004334	−0.016%	—	$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
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004338	+0.076%	$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	0.004332	−0.061%	$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	0.004336	+0.035%	$492K	$1.0M	10x	as long as short
Phoenix PUMPshort	+0.0129%	1h	0.004348	+0.316%	$39K	$99K	10x
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	0.004332	−0.054%	$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