Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0447%/8h= −48.9% APRpaid last 24h −0.299%

Price spread now: Phemex against Kraken Futures−0.042%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$950.947% of the position

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.296%−$30 on $10k

Price spread, last 4 days (all we have)−0.003%$0 · spread now −0.042%, 7d avg −0.059%

Together, before fees−0.299%−$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.059%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.296% in total (about -15.4% 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	0.004516	0.0547	pay 0.0068% / 1h	36m 18s	$1.1M	$3.5M	50x
Short	Phemex PUMPUSDT	0.004514	0.0100	get 0.0050% / 4h	1h 36m	$2.0M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$93.78
Price spread: −0.042% → −0.059%: $1.77
Slippage, 4 orders: −$72.7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$186.72
Costs to cover: 0.947%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Phemex: live order book, 2 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, 3 min ago	4.41 bp	19.3 bp −$19	40.1 bp −$401	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	4.42 bp	29.6 bp −$30	doesn't fit	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	0.0000%	1h	0.004516	+0.007%	$21K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004518	+0.047%	$18K	$260K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004515	−0.019%	$69K	$116K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004514	−0.041%	$55K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004517	+0.025%	$2.9M	$4.7M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004500	−0.352%	$33K	$635K	20x	as long as short
Gate PUMP_USDT	+0.0096%	4h	0.004513	−0.064%	$5.0M	$10.4M	75x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004515	−0.017%	$826K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004519	+0.069%	$536K	$850K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004514	−0.042%	$82.7M	$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	0.004512	−0.086%	$24.7M	$98.9M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004533	+0.386%	$27K	$162K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004520	+0.091%	$65K	$100K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004517	+0.025%	$24.4M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004512	−0.086%	$17.8M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004514	−0.042%	—	$14.2M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004523	+0.149%	$808K	$200K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004529	+0.290%	$67K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004539	+0.512%	$1.3M	$10.5M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004547	+0.689%	$153K	$744K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004520	+0.091%	$107K	$2.2M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004514	−0.042%	$43K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004529	+0.280%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004513	−0.064%	$2K	$766K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004515	−0.019%	$283	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004515	−0.019%	$21K	$85K	20x	as long as short
Phemex PUMPUSDTshort	+0.0100%	4h	0.004514	−0.042%	$2.0M	$3.9M	20x
Extended PUMP-USD	+0.0104%	1h	0.004513	−0.055%	$3.8M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004512	−0.086%	$67K	$10K	3x	as long as short
Paradex PUMP-USD-PERP	+0.0105%	8h	0.004521	+0.123%	$43K	$276	5x	as long as short
Nado PUMP-PERP	+0.0196%	1h	0.004518	+0.058%	$1.6M	$2.1M	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0273% / S −0.0200%	1h	0.004515	−0.019%	$54K	—	100x	as long as short
01 Exchange PUMPUSD	+0.0336%	1h	0.004521	+0.113%	$6K	$600	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004529	+0.291%	$3.8M	$4.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004516	−0.002%	$2	—	3x	as long as short
Phoenix PUMP	+0.0405%	1h	0.004537	+0.477%	$48K	$139K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0528%	1h	0.004525	+0.202%	$726K	$5.8M	50x	as long as short
Kraken Futures PF_PUMPUSDlong	+0.0547%	1h	0.004516	long leg	$1.1M	$3.5M	50x
Injective PUMP/USDC PERP	+0.0564%	1h	0.004533	+0.379%	$38K	$205K	12x	as long as short
Hyperliquid PUMP	+0.0592%	1h	0.004522	+0.136%	$169.1M	$51.2M	10x	as long as short
RISEx PUMP/USDC	+0.0764%	1h	0.004518	+0.058%	$550K	$1.0M	10x	as long as short
Aftermath Perps PUMPUSD	+0.1095%	1h	0.004530	+0.314%	$501	$112K	10x	as long as short