Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0590%/8h= −64.6% APRpaid last 24h −0.269%

Price spread now: BingX against Kraken Futures−0.155%53s7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as 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−$510.513% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 3 days (all we have)+0.113%+$11 · spread now −0.155%, 7d avg −0.076%

Together, before fees−0.066%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and BingX is 0.079% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.076%). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.180% in total (about -9.4% a year). A funding rate is set anew for every payment. 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	0.004304	0.0690	pay 0.0086% / 1h	44m 29s	$1.3M	$3.5M	50x
Short	BingX PUMP-USDT	0.004297	0.0100	get 0.0050% / 4h	2h 44m	—	$12.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$123.89
Price spread: −0.155% → −0.076%: −$7.87
Slippage, 4 orders: −$31.28
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$183.04
Costs to cover: 0.513%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; BingX: live order book, 9 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, 4 min ago	8.13 bp	16.9 bp −$17	32.8 bp −$328	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	1.16 bp	6.8 bp −$7	13.2 bp −$132	37.0 bp −$3,700	123.2 bp −$61.6K

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	−0.2741%	1h	0.004299	−0.110%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0549%	1h	0.004297	−0.160%	$769K	$184K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0072%	4h	0.004296	−0.178%	$22.5M	$94.2M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0016%	4h	0.004298	−0.132%	$40K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004293	−0.248%	$19K	$203K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004300	−0.085%	$68K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004299	−0.117%	$54K	—	150x	as long as short
Gate PUMP_USDT	+0.0090%	4h	0.004293	−0.248%	$4.6M	$11.7M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004293	−0.248%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004200	−2.409%	$28K	$774K	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-PERP	+0.0100%	8h	0.004294	−0.226%	$41K	—	5x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004301	−0.062%	$157.2M	$52.4M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004293	−0.255%	$780K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004295	−0.202%	$446K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004299	−0.112%	$76.3M	$164.6M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004293	−0.239%	$25K	$182K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004294	−0.225%	$41K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004298	−0.132%	$22.7M	$14.0M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004294	−0.225%	$16.9M	$19.2M	75x	as long as short
BingX PUMP-USDTshort	+0.0100%	4h	0.004297	−0.155%	—	$12.8M	—
edgeX PUMPUSDC	+0.0100%	4h	0.004296	−0.181%	$63K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004297	−0.160%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004297	−0.155%	$136K	$767K	50x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004293	−0.236%	$1.6M	$2.0M	10x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004299	−0.109%	$107K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004299	−0.109%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004299	−0.109%	$1K	$708K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004297	−0.155%	$709	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004290	−0.318%	$21K	$146K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004295	−0.202%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004293	−0.247%	$3.5M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004296	−0.178%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004295	−0.197%	$489K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004300	−0.074%	$38K	$99K	10x	as long as short
01 Exchange PUMPUSD	+0.0136%	1h	0.004295	−0.202%	$6K	$497	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004304	+0.008%	$653K	$5.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0303%	1h	0.004303	−0.027%	$179	$107K	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0221%	1h	0.004298	−0.132%	$66K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004293	−0.248%	$3.4M	$3.6M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004297	−0.148%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	+0.472%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSDlong	+0.0690%	1h	0.004304	long leg	$1.3M	$3.5M	50x