Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0242%/8h= +26.5% APRpaid last 24h +0.033%

Price spread now: Phoenix against Bitget−0.428%89s7-day average +0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$570.571% of the position

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)+1.021%+$102 · spread now −0.428%, 7d avg +0.117%

Together, before fees+1.107%+$111 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.545% cheaper against Bitget than usual: you would sell low and buy high (spread −0.428% now, against its 7-day average of +0.117%). If the spread goes back, that is −$54 on $10k: about 7.5 days of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.086% in total) that is about 44 days. The two prices were read 89 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.086% in total (about 4.5% 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	Bitget PUMPUSDT	0.004441	0.0100	pay 0.0050% / 4h	3h 34m	$17.5M	$20.0M	75x
Short	Phoenix PUMP	0.004422	0.0342	get 0.0043% / 1h	34m 03s	$42K	$119K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now −0.428%Rate

Funding earned: $50.81
Price spread: −0.428% → +0.117%: −$54.49
Slippage, 4 orders: −$38.13
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$60.82
Costs to cover: 0.571%
Break-even: 15.4 days

Slippage from Bitget: live order book, 5 min ago; Phoenix: live order book, 4 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 Bitget live order book, 5 min ago	4.53 bp	13.1 bp −$13	24.2 bp −$242	doesn't fit	doesn't fit
Sell Phoenix live order book, 4 min ago	2.03 bp	16.1 bp −$16	50.3 bp −$503	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	−0.4490%	1h	0.004441	+0.006%	$20K	$11K	5x	as long as short
Perpl PUMP	−0.0112%	43m	0.004443	+0.045%	$18K	$239K	20x	as long as short
Gate PUMP_USDT	−0.0036%	4h	0.004442	+0.023%	$4.9M	$10.4M	75x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004440	−0.026%	$56K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004448	+0.158%	$2.9M	$4.8M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−0.923%	$29K	$682K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004444	+0.079%	$1.6M	$2.1M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004446	+0.113%	$711K	$2.3M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004445	+0.090%	$493K	$824K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004447	+0.135%	$81.1M	$170.5M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004439	−0.045%	$24.3M	$97.3M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004431	−0.234%	$31K	$187K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004448	+0.158%	$62K	$99K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004449	+0.180%	$23.9M	$13.8M	50x	as long as short
Bitget PUMPUSDTlong	+0.0100%	4h	0.004441	long leg	$17.5M	$20.0M	75x
BingX PUMP-USDT	+0.0100%	4h	0.004445	+0.090%	—	$12.8M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004445	+0.095%	$793K	$208K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004430	−0.239%	$65K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004414	−0.608%	$1.2M	$10.4M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004435	−0.135%	$147K	$746K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004448	+0.158%	$105K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004440	−0.023%	$42K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004439	−0.051%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004439	−0.045%	$1K	$760K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004445	+0.090%	$279	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004436	−0.113%	$21K	$105K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004445	+0.090%	$2.0M	$4.0M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0103%	8h	0.004449	+0.169%	$42K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004440	−0.023%	$66K	$13K	3x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0200%	1h	0.004442	+0.023%	$71K	$122K	25x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0270% / S −0.0198%	1h	0.004438	−0.068%	$53K	—	100x	as long as short
Extended PUMP-USD	+0.0312%	1h	0.004440	−0.017%	$3.9M	$4.3M	50x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004435	−0.135%	$3.7M	$4.4M	75x	as long as short
Phoenix PUMPshort	+0.0342%	1h	0.004422	−0.428%	$42K	$119K	10x
Reya PUMPRUSDPERP	+0.0344%	1h	0.004441	−0.005%	$2	—	3x	as long as short
01 Exchange PUMPUSD	+0.0360%	1h	0.004448	+0.158%	$6K	$600	10x	as long as short
Injective PUMP/USDC PERP	+0.0419%	1h	0.004423	−0.405%	$38K	$204K	12x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0472%	1h	0.004447	+0.135%	$710K	$5.8M	50x	as long as short
Hyperliquid PUMP	+0.0538%	1h	0.004452	+0.248%	$166.7M	$53.8M	10x	as long as short
RISEx PUMP/USDC	+0.0638%	1h	0.004449	+0.173%	$529K	$1.0M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0659%	1h	0.004447	+0.134%	$1.0M	$3.3M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0996%	1h	0.004435	−0.128%	$499	$111K	10x	as long as short