Funding arb · Price arb /

PUMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.026%

Price spread now: Backpack against Derive+0.068%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Derive Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.068% dearer against Derive than usual: you sell high and buy low, +$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive PUMP-PERP	0.004403	0.0100	pay 0.0013% / 1h	52m 05s	$5K	$13K	6.7x
Short	Backpack PUMP_USDC_PERP	0.004406	0.0100	get 0.0013% / 1h	52m 05s	$784K	$179K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Derive. 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 DerivebpFee BackpackbpOrdersPrice spread, now +0.068%Rate

Funding earned: $0
Price spread: +0.068% → 0.000%: $6.79
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$9.21
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Backpack: live order book, 17 min ago. Net counts fees only.

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 Derive no order-book sample	—	—	—	—	—
Sell Backpack live order book, 17 min ago	1.79 bp	13.3 bp −$13	23.6 bp −$236	doesn't fit	doesn't fit

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
ApeX Omni PUMPUSDT	−0.0223%	1h	0.004404	+0.025%	$139K	$759K	50x	as long as short
dYdX PUMP-USD	0.0000%	1h	0.004406	+0.077%	$20K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004411	+0.184%	$20K	$200K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004404	+0.025%	$70K	$124K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004403	+0.001%	$53K	—	150x	as long as short
Orderly PERP_PUMP_USDC	+0.0059%	4h	0.004403	+0.002%	$41K	$10K	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004406	+0.070%	$2.8M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−0.066%	$27K	$770K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004408	+0.116%	$700K	$2.3M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004412	+0.206%	$476K	$654K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PUMPUSDT	+0.0100%	4h	0.004405	+0.047%	$79.1M	$164.6M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004406	+0.070%	$23.5M	$96.4M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004393	−0.234%	$26K	$166K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004409	+0.138%	$40K	$60K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004404	+0.025%	$4.8M	$10.4M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004407	+0.093%	$23.4M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004405	+0.047%	$17.6M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004406	+0.070%	—	$12.8M	—	as long as short
Backpack PUMP_USDC_PERPshort	+0.0100%	1h	0.004406	+0.068%	$784K	$179K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004405	+0.053%	$65K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004394	−0.214%	$1.2M	$10.4M	10x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004414	+0.252%	$102K	$2.0M	10x	as long as short
Derive PUMP-PERPlong	+0.0100%	1h	0.004403	long leg	$5K	$13K	6.7x
SunX PUMP-USDT	+0.0100%	4h	0.004403	+0.002%	$2K	$732K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004404	+0.025%	$276	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004406	+0.070%	$21K	$118K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004407	+0.093%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004412	+0.216%	$42K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004402	−0.012%	$3.7M	$4.1M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004399	−0.089%	$70K	$9K	3x	as long as short
Nado PUMP-PERP	+0.0118%	1h	0.004410	+0.172%	$1.6M	$2.0M	10x	as long as short
01 Exchange PUMPUSD	+0.0200%	1h	0.004412	+0.206%	$6K	$727	10x	as long as short
Phoenix PUMP	+0.0235%	1h	0.004402	−0.030%	$39K	$103K	10x	as long as short
RISEx PUMP/USDC	+0.0322%	1h	0.004413	+0.233%	$481K	$995K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004409	+0.138%	$3.6M	$4.3M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004406	+0.066%	$2	—	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0358% / S −0.0298%	1h	0.004401	−0.043%	$73K	—	100x	as long as short
Hyperliquid PUMP	+0.0391%	1h	0.004412	+0.206%	$162.5M	$53.9M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0408%	1h	0.004407	+0.093%	$702K	$5.6M	50x	as long as short
Injective PUMP/USDC PERP	+0.0571%	1h	0.004408	+0.116%	$39K	$203K	12x	as long as short
Aftermath Perps PUMPUSD	+0.0707%	1h	0.004412	+0.212%	$386	$110K	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.1262%	1h	0.004409	+0.141%	$1.3M	$3.1M	50x	as long as short