Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.030%

Price spread now: Backpack against GRVT−0.123%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on GRVT Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.237%+$24 · spread now −0.123%, 7d avg −0.014%

Together, before fees+0.240%+ Points / potential airdropGRVT: Active · farm board+$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.109% cheaper against GRVT than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PUMP_USDT_Perp	0.004429	0.0100	pay 0.0050% / 4h	5m 21s	$1.2M	$10.6M	10x
Short	Backpack PUMP_USDC_PERP	0.004424	0.0100	get 0.0013% / 1h	5m 21s	$791K	$206K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against GRVT. 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 GRVTbpFee BackpackbpOrdersPrice spread, now −0.123%Rate

Funding earned: $0
Price spread: −0.123% → −0.014%: −$10.88
Slippage, 4 orders: −$14.95
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$44.83
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Backpack: live order book, 54 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 GRVT live order book, 4 min ago	1.13 bp	6.4 bp −$6	20.8 bp −$208	109.6 bp −$11.0K	doesn't fit
Sell Backpack live order book, 54 min ago	2.50 bp	7.7 bp −$8	13.3 bp −$133	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	−0.4602%	1h	0.004425	−0.087%	$20K	$9K	5x	as long as short
Perpl PUMP	−0.0112%	43m	0.004426	−0.067%	$19K	$237K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004422	−0.148%	$53K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004428	−0.022%	$2.8M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−0.654%	$29K	$781K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004428	−0.010%	$1.6M	$2.1M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004425	−0.095%	$701K	$2.3M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004426	−0.067%	$496K	$823K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004424	−0.121%	$80.5M	$173.0M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004423	−0.134%	$24.1M	$97.5M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004428	−0.015%	$31K	$192K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004429	+0.001%	$62K	$99K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004422	−0.157%	$4.9M	$11.5M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004428	−0.022%	$23.7M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004424	−0.112%	$17.4M	$20.0M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004423	−0.134%	—	$12.9M	—	as long as short
Backpack PUMP_USDC_PERPshort	+0.0100%	1h	0.004424	−0.123%	$791K	$206K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004432	+0.058%	$65K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perplong	+0.0100%	4h	0.004429	long leg	$1.2M	$10.6M	10x
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004433	+0.091%	$147K	$756K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004429	+0.001%	$103K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004422	−0.157%	$42K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004422	−0.150%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004424	−0.112%	$1K	$770K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004423	−0.134%	$278	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004426	−0.067%	$21K	$106K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004425	−0.089%	$2.0M	$4.0M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004428	−0.017%	$42K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004421	−0.180%	$66K	$13K	3x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0202%	1h	0.004424	−0.112%	$70K	$122K	25x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0270% / S −0.0198%	1h	0.004421	−0.180%	$53K	—	100x	as long as short
Extended PUMP-USD	+0.0280%	1h	0.004426	−0.061%	$3.9M	$4.3M	50x	as long as short
01 Exchange PUMPUSD	+0.0280%	1h	0.004430	+0.024%	$6K	$625	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004430	+0.024%	$3.6M	$4.5M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004426	−0.072%	$2	—	3x	as long as short
Phoenix PUMP	+0.0345%	1h	0.004430	+0.028%	$42K	$120K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0440%	1h	0.004429	+0.001%	$701K	$5.9M	50x	as long as short
Hyperliquid PUMP	+0.0473%	1h	0.004431	+0.046%	$166.1M	$54.9M	10x	as long as short
RISEx PUMP/USDC	+0.0570%	1h	0.004430	+0.013%	$526K	$1.0M	10x	as long as short
Injective PUMP/USDC PERP	+0.0706%	1h	0.004436	+0.159%	$38K	$204K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0800%	1h	0.004426	−0.063%	$1.0M	$3.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0997%	1h	0.004429	−0.006%	$585	$112K	10x	as long as short