PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1233%/8h= −135.0% APRnext payment −$1.54 per $10,000 · paid last 24h −0.335%

Price spread now: Backpack against Kraken Futures−0.031%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$530.526% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.497%−$50 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.031%, 7d avg −0.094%

Together, before fees−0.565%−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.063% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.031% now, against its 7-day average of −0.094%): +$6 on $10k if it goes back. Holding the pair costs −$37 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.497% in total) that is about 21 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.497% in total (about -25.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.54 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PUMPUSD	0.004487	0.1333	pay 0.0167% / 1h	17m 52s	$1.1M	$3.3M	50x
Short	Backpack PUMP_USDC_PERP	0.004486	0.0100	get 0.0013% / 1h	17m 52s	$796K	$189K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$258.99
Price spread: −0.031% → −0.094%: $6.29
Slippage, 4 orders: −$32.64
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$305.33
Costs to cover: 0.526%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Backpack: live order book, 46 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 Kraken Futures live order book, 1 min ago	3.34 bp	17.9 bp −$18	33.0 bp −$330	doesn't fit	doesn't fit
Sell Backpack live order book, 46 min ago	2.78 bp	7.8 bp −$8	17.0 bp −$170	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
Perpl PUMP	−0.0112%	43m	0.004486	−0.024%	$18K	$230K	20x	as long as short
dYdX PUMP-USD	−0.0009%	1h	0.004483	−0.089%	$21K	$9K	5x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004485	−0.046%	$71K	$124K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004482	−0.118%	$54K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004487	−0.002%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−1.941%	$31K	$794K	20x	as long as short
Orderly PERP_PUMP_USDC	+0.0099%	4h	0.004483	−0.091%	$42K	$10K	10x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004488	+0.009%	$1.7M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004486	−0.027%	$706K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004487	−0.002%	$491K	$783K	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	0.004486	−0.021%	$81.6M	$170.5M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004485	−0.046%	$24.4M	$98.7M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004475	−0.267%	$37K	$191K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004489	+0.043%	$51K	$76K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004484	−0.069%	$5.0M	$11.3M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004490	+0.065%	$23.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004483	−0.091%	$17.7M	$19.9M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004484	−0.069%	—	$12.9M	—	as long as short
Backpack PUMP_USDC_PERPshort	+0.0100%	1h	0.004486	−0.031%	$796K	$189K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004472	−0.338%	$65K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004469	−0.398%	$1.3M	$10.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004478	−0.202%	$149K	$751K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004490	+0.065%	$109K	$2.1M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004483	−0.094%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004489	+0.043%	$2K	$754K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004485	−0.046%	$281	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004478	−0.202%	$21K	$119K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004483	−0.091%	$2.0M	$4.0M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004485	−0.037%	$43K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004481	−0.136%	$71K	$11K	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0191% / S −0.0050%	1h	0.004481	−0.136%	$60K	—	100x	as long as short
Extended PUMP-USD	+0.0264%	1h	0.004485	−0.038%	$3.8M	$4.2M	50x	as long as short
01 Exchange PUMPUSD	+0.0296%	1h	0.004492	+0.110%	$6K	$727	10x	as long as short
Phoenix PUMP	+0.0321%	1h	0.004480	−0.167%	$43K	$103K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004488	+0.020%	$3.7M	$4.5M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004485	−0.053%	$2	—	3x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0448%	1h	0.004490	+0.065%	$718K	$6.0M	50x	as long as short
Hyperliquid PUMP	+0.0507%	1h	0.004490	+0.065%	$168.0M	$55.8M	10x	as long as short
RISEx PUMP/USDC	+0.0544%	1h	0.004491	+0.078%	$534K	$994K	10x	as long as short
Aftermath Perps PUMPUSD	+0.0863%	1h	0.004477	−0.225%	$591	$117K	10x	as long as short
Injective PUMP/USDC PERP	+0.0880%	1h	0.004455	−0.715%	$39K	$204K	12x	as long as short
Kraken Futures PF_PUMPUSDlong	+0.1333%	1h	0.004487	long leg	$1.1M	$3.3M	50x