PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0432%/8h= −47.3% APRnext payment −$0.54 per $10,000 · paid last 24h +0.300%

Price spread now: Hyperliquid against Injective−0.182%93s7-day average +0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs+$26as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1000.998% of the position

Long on Injective Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+1.261%+$126 on $10k

Price spread, last 4 days (all we have)+0.182%+$18 · spread now −0.182%, 7d avg +0.157%

Together, before fees+1.443%+ Points / potential airdropHyperliquid: Season 2 · farm board+$144 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Hyperliquid is 0.339% cheaper against Injective than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of +0.157%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.261%, so the current rate has only just turned against you. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PUMP/USDC PERP	0.004399	0.0706	pay 0.0088% / 1h	57m 33s	$38K	$204K	12x
Short	Hyperliquid PUMP	0.004391	0.0273	get 0.0034% / 1h	57m 33s	$164.1M	$56.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Injective. 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 InjectivebpFee HyperliquidbpOrdersPrice spread, now −0.182%Rate

Funding earned: −$90.79
Price spread: −0.182% → +0.157%: −$33.87
Slippage, 4 orders: −$90.75
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$224.43
Costs to cover: 0.998%
Break-even: never at this rate

Slippage from Injective: live order book, 1 min ago; Hyperliquid: live order book, 6 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 Injective live order book, 1 min ago	15.93 bp	52.6 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	1.13 bp	10.8 bp −$11	19.0 bp −$190	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
Backpack PUMP_USDC_PERP	−0.0747%	1h	0.004384	−0.346%	$778K	$193K	5x	as long as short
Perpl PUMP	−0.0112%	43m	0.004395	−0.091%	$18K	$232K	20x	as long as short
dYdX PUMP-USD	0.0000%	1h	0.004389	−0.222%	$20K	$9K	5x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004392	−0.159%	$70K	$124K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004392	−0.169%	$53K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004386	−0.296%	$2.8M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−2.251%	$28K	$822K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004385	−0.325%	$690K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004385	−0.318%	$487K	$817K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004386	−0.293%	$79.6M	$171.9M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004390	−0.205%	$23.8M	$97.4M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004378	−0.482%	$36K	$186K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004388	−0.250%	$64K	$91K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004382	−0.386%	$4.8M	$11.1M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004387	−0.273%	$23.4M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004383	−0.364%	$17.4M	$20.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004384	−0.341%	—	$12.9M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004398	−0.033%	$64K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004399	+0.001%	$1.2M	$10.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004401	+0.045%	$147K	$751K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004398	−0.023%	$101K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004391	−0.182%	$41K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004391	−0.171%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004394	−0.114%	$1K	$760K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004393	−0.136%	$276	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004394	−0.114%	$21K	$117K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004390	−0.205%	$2.0M	$4.0M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004379	−0.465%	$42K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004389	−0.227%	$70K	$11K	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0191% / S −0.0050%	1h	0.004391	−0.182%	$59K	—	100x	as long as short
Extended PUMP-USD	+0.0216%	1h	0.004383	−0.353%	$3.8M	$4.3M	50x	as long as short
Nado PUMP-PERP	+0.0217%	1h	0.004390	−0.193%	$1.6M	$2.1M	10x	as long as short
01 Exchange PUMPUSD	+0.0240%	1h	0.004387	−0.273%	$6K	$727	10x	as long as short
Hyperliquid PUMPshort	+0.0273%	1h	0.004391	−0.182%	$164.1M	$56.1M	10x
Phoenix PUMP	+0.0321%	1h	0.004406	+0.168%	$43K	$102K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004400	+0.023%	$3.7M	$4.4M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004394	−0.118%	$2	—	3x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0440%	1h	0.004403	+0.091%	$689K	$5.8M	50x	as long as short
RISEx PUMP/USDC	+0.0570%	1h	0.004386	−0.287%	$521K	$1.0M	10x	as long as short
Injective PUMP/USDC PERPlong	+0.0706%	1h	0.004399	long leg	$38K	$204K	12x
Kraken Futures PF_PUMPUSD	+0.0806%	1h	0.004395	−0.089%	$1.1M	$3.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0881%	1h	0.004409	+0.225%	$582	$115K	10x	as long as short