Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0173%/8h= −18.9% APRpaid last 24h −0.030%

Price spread now: Phoenix against BloFin+0.035%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.332%−$33 on $10k

Price spread, last 3 days (all we have)+0.227%+$23 · spread now +0.035%, 7d avg +0.075%

Together, before fees−0.105%−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phoenix is 0.040% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.075%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PUMP-USDT	0.004321	0.0340	pay 0.0170% / 4h	2h 54m	$3.4M	$3.7M	75x
Short	Phoenix PUMP	0.004322	0.0167	get 0.0021% / 1h	54m 38s	$39K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$36.3
Price spread: +0.035% → +0.075%: −$4
Slippage, 4 orders: −$35.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$95.1
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Phoenix: live order book, 26 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 BloFin live order book, 4 min ago	4.64 bp	11.8 bp −$12	18.2 bp −$182	47.4 bp −$4,742	167.6 bp −$83.8K
Sell Phoenix live order book, 26 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	−0.5272%	1h	0.004312	−0.208%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0133%	1h	0.004326	+0.104%	$772K	$184K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0047%	4h	0.004299	−0.509%	$22.6M	$94.5M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0013%	4h	0.004326	+0.116%	$41K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004321	0.000%	$20K	$201K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004326	+0.105%	$55K	—	150x	as long as short
01 Exchange PUMPUSD	+0.0048%	1h	0.004317	−0.093%	$6K	$497	10x	as long as short
Lighter PUMP	+0.0080%	1h	0.004312	−0.208%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.486%	$29K	$776K	20x	as long as short
Gate PUMP_USDT	+0.0098%	4h	0.004302	−0.440%	$4.6M	$11.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004303	−0.408%	$41K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004320	−0.012%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004316	−0.116%	$158.0M	$52.1M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004317	−0.086%	$784K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004311	−0.231%	$448K	$614K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004311	−0.241%	$76.5M	$165.0M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004325	+0.083%	$20K	$178K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004305	−0.370%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004312	−0.208%	$22.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004298	−0.532%	$17.1M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004298	−0.532%	—	$12.9M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004316	−0.116%	$63K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004317	−0.084%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004318	−0.069%	$136K	$767K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004326	+0.116%	$110K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004328	+0.156%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004325	+0.093%	$1K	$709K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004326	+0.116%	$713	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004316	−0.116%	$21K	$146K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004326	+0.116%	$2.0M	$4.1M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004299	−0.508%	$3.5M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004326	+0.116%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004307	−0.312%	$491K	$1.0M	10x	as long as short
Phoenix PUMPshort	+0.0167%	1h	0.004322	+0.035%	$39K	$99K	10x
Deribit PUMP_USDC-PERPETUAL	+0.0212%	1h	0.004331	+0.231%	$70K	$125K	25x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004323	+0.046%	$658K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0305% / S −0.0221%	1h	0.004325	+0.093%	$67K	—	100x	as long as short
BloFin PUMP-USDTlong	+0.0340%	4h	0.004321	long leg	$3.4M	$3.7M	75x
Aftermath Perps PUMPUSD	+0.0341%	1h	0.004319	−0.036%	$200	$105K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004324	+0.060%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004327	+0.139%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0686%	1h	0.004331	+0.222%	$1.3M	$3.5M	50x	as long as short