Funding arb · Price arb /

PUMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0137%/8h= −15.0% APRpaid last 24h −0.010%

Price spread now: Paradex against Hyperliquid−0.029%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 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 · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Paradex is 0.029% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 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	0.004373	0.0237	pay 0.0030% / 1h	44m 13s	$160.9M	$53.2M	10x
Short	Paradex PUMP-USD-PERP	0.004372	0.0100	get 0.0100% / 8h	7h 44m	$42K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$28.72
Price spread: −0.029% → 0.000%: −$2.95
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$44.67
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Paradex: 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, 10 min ago	1.14 bp	5.6 bp −$6	13.3 bp −$133	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
Backpack PUMP_USDC_PERP	−0.0200%	1h	0.004372	−0.027%	$779K	$178K	5x	as long as short
dYdX PUMP-USD	−0.0021%	1h	0.004374	+0.030%	$20K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004372	−0.023%	$18K	$206K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004366	−0.160%	$69K	$125K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004369	−0.101%	$55K	—	150x	as long as short
OKX PUMP-USDT-SWAP	+0.0031%	4h	0.004365	−0.183%	$22.8M	$96.8M	50x	as long as short
Orderly PERP_PUMP_USDC	+0.0041%	4h	0.004366	−0.160%	$41K	$10K	10x	as long as short
Gate PUMP_USDT	+0.0066%	4h	0.004370	−0.069%	$4.7M	$10.5M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004367	−0.137%	$2.9M	$5.3M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−1.669%	$33K	$775K	20x	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-PERPshort	+0.0100%	8h	0.004372	−0.029%	$42K	—	5x
Nado PUMP-PERP	+0.0100%	1h	0.004372	−0.034%	$1.6M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004371	−0.055%	$716K	$2.3M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004373	0.000%	$456K	$606K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004367	−0.134%	$78.1M	$163.8M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004364	−0.208%	$26K	$165K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004372	−0.023%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004371	−0.046%	$23.2M	$13.8M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004369	−0.091%	$17.5M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004368	−0.114%	—	$12.9M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004357	−0.376%	$64K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004361	−0.284%	$1.2M	$10.1M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004366	−0.160%	$138K	$759K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004375	+0.046%	$96K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004367	−0.147%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004367	−0.137%	$2K	$722K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004366	−0.160%	$282	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004364	−0.206%	$21K	$136K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004367	−0.137%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004365	−0.192%	$3.6M	$3.6M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004368	−0.114%	$70K	$12K	3x	as long as short
01 Exchange PUMPUSD	+0.0200%	1h	0.004375	+0.046%	$6K	$830	10x	as long as short
Hyperliquid PUMPlong	+0.0237%	1h	0.004373	long leg	$160.9M	$53.2M	10x
Phoenix PUMP	+0.0237%	1h	0.004370	−0.080%	$40K	$99K	10x	as long as short
RISEx PUMP/USDC	+0.0297%	1h	0.004373	−0.010%	$478K	$1.0M	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004366	−0.160%	$3.5M	$4.1M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004366	−0.164%	$2	—	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0345% / S −0.0288%	1h	0.004366	−0.160%	$74K	—	100x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0352%	1h	0.004376	+0.069%	$689K	$5.5M	50x	as long as short
Injective PUMP/USDC PERP	+0.0480%	1h	0.004368	−0.114%	$38K	$203K	12x	as long as short
Aftermath Perps PUMPUSD	+0.0533%	1h	0.004368	−0.124%	$381	$106K	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0941%	1h	0.004371	−0.035%	$1.3M	$3.5M	50x	as long as short