Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1240%/8h= −135.8% APRpaid last 24h −0.320%

Price spread now: OKX against Kraken Futures−0.030%55s7-day average −0.090% · 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—prices read too far apart to compare

costs, in and out, $10k−$530.527% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.302%−$30 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now −0.030%, 7d avg −0.090%

Together, before fees−0.313%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.060% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.030% now, against its 7-day average of −0.090%): +$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 (−0.302% in total) that is about 33 hours. The two prices were read 55 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 -0.302% in total (about -15.8% 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	0.004465	0.1340	pay 0.0167% / 1h	38m 26s	$1.1M	$3.3M	50x
Short	OKX PUMP-USDT-SWAP	0.004464	0.0100	get 0.0050% / 4h	1h 38m	$24.3M	$98.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$260.35
Price spread: −0.030% → −0.090%: $6.01
Slippage, 4 orders: −$32.67
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$307.01
Costs to cover: 0.527%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; OKX: live order book, 5 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	5.56 bp	19.1 bp −$19	47.2 bp −$472	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.11 bp	9.2 bp −$9	29.3 bp −$293	103.9 bp −$10.4K	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	0.004468	+0.059%	$18K	$225K	20x	as long as short
dYdX PUMP-USD	0.0000%	1h	0.004474	+0.194%	$20K	$9K	5x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004462	−0.075%	$71K	$124K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004465	−0.010%	$53K	—	150x	as long as short
Orderly PERP_PUMP_USDC	+0.0094%	4h	0.004464	−0.030%	$42K	$10K	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004473	+0.171%	$2.9M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−1.464%	$27K	$786K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004469	+0.070%	$1.7M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004470	+0.104%	$703K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004473	+0.171%	$521K	$736K	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	0.004466	+0.012%	$81.6M	$169.9M	75x	as long as short
OKX PUMP-USDT-SWAPshort	+0.0100%	4h	0.004464	−0.030%	$24.3M	$98.8M	50x
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004465	−0.015%	$32K	$185K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004468	+0.059%	$41K	$66K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004466	+0.014%	$5.0M	$11.2M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004468	+0.059%	$23.8M	$14.0M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004463	−0.053%	$17.7M	$19.9M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004466	+0.014%	—	$12.9M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004462	−0.077%	$793K	$188K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004477	+0.257%	$65K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004493	+0.628%	$1.2M	$10.5M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004494	+0.641%	$150K	$751K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004468	+0.059%	$107K	$2.1M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004464	−0.021%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004461	−0.098%	$1K	$751K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004461	−0.098%	$280	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004465	−0.008%	$21K	$120K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004464	−0.030%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004473	+0.165%	$42K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004459	−0.142%	$71K	$11K	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0230% / S −0.0083%	1h	0.004464	−0.030%	$60K	—	100x	as long as short
Extended PUMP-USD	+0.0272%	1h	0.004463	−0.047%	$3.8M	$4.2M	50x	as long as short
01 Exchange PUMPUSD	+0.0296%	1h	0.004470	+0.104%	$6K	$727	10x	as long as short
Phoenix PUMP	+0.0321%	1h	0.004482	+0.382%	$43K	$103K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004462	−0.075%	$3.7M	$4.6M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004464	−0.036%	$2	—	3x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0448%	1h	0.004475	+0.216%	$697K	$5.9M	50x	as long as short
RISEx PUMP/USDC	+0.0544%	1h	0.004469	+0.082%	$531K	$990K	10x	as long as short
Hyperliquid PUMP	+0.0613%	1h	0.004471	+0.126%	$167.2M	$55.8M	10x	as long as short
Aftermath Perps PUMPUSD	+0.0861%	1h	0.004486	+0.452%	$592	$117K	10x	as long as short
Injective PUMP/USDC PERP	+0.0880%	1h	0.004478	+0.283%	$39K	$204K	12x	as long as short
Kraken Futures PF_PUMPUSDlong	+0.1340%	1h	0.004465	long leg	$1.1M	$3.3M	50x