PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0242%/8h= −26.5% APRnext payment −$0.30 per $10,000 · paid last 24h −0.268%

Price spread now: Hyperliquid against Kraken Futures−0.102%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$550.551% of the position

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.275%−$27 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now −0.102%, 7d avg +0.026%

Together, before fees−0.256%+ Points / potential airdropHyperliquid: Season 2 · farm board−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Hyperliquid is 0.128% cheaper against Kraken Futures than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PUMPUSD	0.004494	0.0815	pay 0.0102% / 1h	43m 42s	$1.0M	$3.2M	50x
Short	Hyperliquid PUMP	0.004489	0.0572	get 0.0072% / 1h	43m 42s	$168.4M	$48.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.102%Rate

Funding earned: −$50.91
Price spread: −0.102% → +0.026%: −$12.79
Slippage, 4 orders: −$36.08
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$118.78
Costs to cover: 0.551%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Hyperliquid: live order book, 10 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, 5 min ago	4.45 bp	17.8 bp −$18	42.8 bp −$428	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.12 bp	9.2 bp −$9	18.1 bp −$181	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
dYdX PUMP-USD	−0.0025%	1h	0.004482	−0.256%	$21K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004494	+0.009%	$18K	$237K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004494	+0.009%	$70K	$115K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004494	+0.019%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0040%	4h	0.004476	−0.392%	$5.0M	$10.3M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004482	−0.258%	$2.9M	$4.6M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−2.083%	$28K	$617K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004494	+0.020%	$1.6M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004481	−0.291%	$716K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004479	−0.325%	$536K	$761K	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	0.004473	−0.448%	$81.6M	$163.9M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004473	−0.458%	$24.6M	$94.1M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004486	−0.178%	$32K	$162K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004476	−0.392%	$65K	$101K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004478	−0.347%	$23.9M	$13.6M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004475	−0.414%	$17.8M	$18.5M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004475	−0.414%	—	$13.6M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004492	−0.033%	$805K	$201K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004495	+0.035%	$66K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004489	−0.102%	$1.3M	$10.1M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004499	+0.120%	$152K	$746K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004498	+0.098%	$111K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004493	−0.013%	$42K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004493	−0.022%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004493	−0.013%	$2K	$735K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004492	−0.035%	$282	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004486	−0.169%	$21K	$93K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004493	−0.013%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0103%	8h	0.004482	−0.267%	$43K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004490	−0.080%	$67K	$10K	3x	as long as short
Extended PUMP-USD	+0.0144%	1h	0.004474	−0.429%	$3.8M	$3.7M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0272% / S −0.0200%	1h	0.004493	−0.013%	$54K	—	100x	as long as short
01 Exchange PUMPUSD	+0.0320%	1h	0.004476	−0.392%	$6K	$600	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004490	−0.080%	$3.7M	$4.5M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004495	+0.026%	$2	—	3x	as long as short
Phoenix PUMP	+0.0356%	1h	0.004499	+0.129%	$46K	$119K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0480%	1h	0.004501	+0.165%	$723K	$5.5M	50x	as long as short
Injective PUMP/USDC PERP	+0.0571%	1h	0.004502	+0.187%	$39K	$204K	12x	as long as short
Hyperliquid PUMPshort	+0.0572%	1h	0.004489	−0.102%	$168.4M	$48.4M	10x
RISEx PUMP/USDC	+0.0682%	1h	0.004476	−0.380%	$532K	$1.0M	10x	as long as short
Kraken Futures PF_PUMPUSDlong	+0.0815%	1h	0.004494	long leg	$1.0M	$3.2M	50x
Aftermath Perps PUMPUSD	+0.1091%	1h	0.004496	+0.053%	$521	$102K	10x	as long as short