Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0330%/8h= −36.1% APRpaid last 24h −0.028%

Price spread now: Backpack against Binance+0.026%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Binance Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.201%−$20 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now +0.026%, 7d avg −0.029%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.055% dearer against Binance than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.029%): +$6 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.201% in total) that is about 46 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.201% in total (about -10.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PUMPUSDT	0.004334	0.0100	pay 0.0050% / 4h	2h 18m	$77.0M	$164.3M	75x
Short	Backpack PUMP_USDC_PERP	0.004335	−0.0230	pay 0.0029% / 1h	18m 48s	$773K	$183K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$69.31
Price spread: +0.026% → −0.029%: $5.52
Slippage, 4 orders: −$22.63
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$106.42
Costs to cover: 0.426%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Backpack: live order book, 5 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 Binance live order book, 9 min ago	1.15 bp	10.0 bp −$10	17.6 bp −$176	65.6 bp −$6,558	410.8 bp −$205.4K
Sell Backpack live order book, 5 min ago	0.81 bp	9.6 bp −$10	16.7 bp −$167	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	−0.4705%	1h	0.004340	+0.143%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERPshort	−0.0230%	1h	0.004335	+0.026%	$773K	$183K	5x
Perpl PUMP	−0.0112%	43m	0.004335	+0.033%	$20K	$206K	20x	as long as short
OKX PUMP-USDT-SWAP	−0.0070%	4h	0.004333	−0.013%	$22.7M	$96.1M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0023%	4h	0.004334	+0.010%	$41K	$10K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004337	+0.079%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004336	+0.051%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0078%	4h	0.004335	+0.033%	$4.6M	$11.7M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004334	+0.010%	$2.9M	$5.5M	10x	as long as short
01 Exchange PUMPUSD	+0.0096%	1h	0.004336	+0.056%	$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	−0.774%	$29K	$766K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004336	+0.053%	$42K	—	5x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004339	+0.126%	$159.1M	$52.4M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004333	−0.003%	$785K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004338	+0.102%	$450K	$611K	10x	as long as short
Binance PUMPUSDTlong	+0.0100%	4h	0.004334	long leg	$77.0M	$164.3M	75x
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004345	+0.252%	$26K	$179K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004335	+0.033%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004338	+0.102%	$22.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004334	+0.010%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004335	+0.033%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004341	+0.161%	$64K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004352	+0.421%	$1.2M	$9.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004342	+0.195%	$137K	$769K	50x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004335	+0.045%	$1.6M	$2.0M	10x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004339	+0.126%	$91K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004336	+0.062%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004336	+0.056%	$1K	$710K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004334	+0.010%	$715	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004335	+0.033%	$21K	$147K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004335	+0.033%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004334	+0.012%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004333	−0.013%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004337	+0.079%	$492K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004348	+0.342%	$39K	$99K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004343	+0.218%	$659K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0307% / S −0.0225%	1h	0.004335	+0.033%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004334	+0.010%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004335	+0.041%	$2	—	3x	as long as short
Aftermath Perps PUMPUSD	+0.0345%	1h	0.004338	+0.098%	$180	$106K	10x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	−0.221%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0684%	1h	0.004341	+0.172%	$1.3M	$3.5M	50x	as long as short