Funding arb · Price arb /

PUMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h −0.022%

Price spread now: Orderly against Hyperliquid−0.114%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.114% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PUMP	0.004379	0.0100	pay 0.0013% / 1h	3m 03s	$160.9M	$52.5M	10x
Short	Orderly PERP_PUMP_USDC	0.004374	−0.0001	pay 0.0001% / 4h	1h 03m	$41K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Hyperliquid. 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 HyperliquidbpFee OrderlybpOrdersPrice spread, now −0.114%Rate

Funding earned: −$21.29
Price spread: −0.114% → 0.000%: −$11.42
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$47.7
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 11 min ago; Orderly: no order-book sample. 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 Hyperliquid live order book, 11 min ago	2.30 bp	8.9 bp −$9	22.8 bp −$228	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
dYdX PUMP-USD	−0.3466%	1h	0.004367	−0.264%	$20K	$9K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0037%	4h	0.004376	−0.069%	$22.9M	$96.3M	50x	as long as short
Orderly PERP_PUMP_USDCshort	−0.0001%	4h	0.004374	−0.114%	$41K	$10K	10x
Perpl PUMP	0.0000%	43m	0.004373	−0.137%	$20K	$202K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004374	−0.123%	$55K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004375	−0.091%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−1.804%	$29K	$764K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004376	−0.065%	$42K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004376	−0.057%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMPlong	+0.0100%	1h	0.004379	long leg	$160.9M	$52.5M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PUMPUSDT	+0.0100%	4h	0.004373	−0.131%	$791K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004374	−0.114%	$453K	$603K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004375	−0.087%	$77.9M	$163.7M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004357	−0.493%	$26K	$174K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004377	−0.046%	$42K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004375	−0.091%	$4.7M	$11.8M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004379	0.000%	$23.2M	$13.8M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004377	−0.046%	$17.4M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004373	−0.137%	—	$12.7M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004373	−0.128%	$779K	$183K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004360	−0.438%	$65K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004362	−0.398%	$1.2M	$9.8M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004357	−0.502%	$137K	$766K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004379	0.000%	$82K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004374	−0.108%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004376	−0.069%	$2K	$714K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004374	−0.114%	$721	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004372	−0.160%	$22K	$138K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004372	−0.160%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004376	−0.076%	$3.6M	$3.8M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004374	−0.114%	$72K	$18K	3x	as long as short
01 Exchange PUMPUSD	+0.0112%	1h	0.004377	−0.046%	$6K	$497	10x	as long as short
RISEx PUMP/USDC	+0.0147%	1h	0.004377	−0.057%	$488K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0185%	1h	0.004365	−0.327%	$39K	$99K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0207%	1h	0.004376	−0.069%	$69K	$126K	25x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0280%	1h	0.004378	−0.023%	$679K	$5.5M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0314% / S −0.0229%	1h	0.004372	−0.160%	$68K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004372	−0.160%	$3.5M	$3.8M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004375	−0.093%	$2	—	3x	as long as short
Aftermath Perps PUMPUSD	+0.0426%	1h	0.004360	−0.438%	$181	$106K	10x	as long as short
Injective PUMP/USDC PERP	+0.0652%	1h	0.004380	+0.023%	$39K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0799%	1h	0.004379	+0.010%	$1.3M	$3.5M	50x	as long as short