PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.032%

Price spread now: Backpack against Lighter−0.063%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on Lighter Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.316%−$32 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now −0.063%, 7d avg −0.092%

Together, before fees−0.264%+ Points / potential airdropLighter: Season 3 · farm board−$26 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.029% dearer against Lighter than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PUMP	0.004464	0.0096	pay 0.0012% / 1h	8m 52s	$2.9M	$4.8M	10x
Short	Backpack PUMP_USDC_PERP	0.004461	0.0100	get 0.0013% / 1h	8m 52s	$796K	$202K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter. 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 LighterbpFee BackpackbpOrdersPrice spread, now −0.063%Rate

Funding earned: $0.84
Price spread: −0.063% → −0.092%: $2.88
Slippage, 4 orders: −$16.96
Fee Lighter: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$23.24
Costs to cover: 0.270%
Break-even: 200.7 days

Slippage from Lighter: live order book, 4 min ago; Backpack: live order book, 45 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 Lighter live order book, 4 min ago	2.23 bp	3.4 bp −$3	7.2 bp −$72	77.1 bp −$7,714	doesn't fit
Sell Backpack live order book, 45 min ago	2.37 bp	9.5 bp −$10	14.6 bp −$146	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	−0.2294%	1h	0.004471	+0.161%	$20K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004463	−0.022%	$18K	$233K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004460	−0.090%	$71K	$116K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004459	−0.119%	$56K	—	150x	as long as short
Gate PUMP_USDT	+0.0032%	4h	0.004467	+0.067%	$4.9M	$10.6M	75x	as long as short
Lighter PUMPlong	+0.0096%	1h	0.004464	long leg	$2.9M	$4.8M	10x
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−1.434%	$30K	$631K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004464	+0.011%	$1.6M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004472	+0.175%	$714K	$2.2M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004470	+0.134%	$496K	$755K	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	0.004474	+0.216%	$81.5M	$166.4M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004477	+0.291%	$24.4M	$95.6M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004467	+0.072%	$32K	$183K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004468	+0.090%	$65K	$101K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004476	+0.269%	$24.0M	$13.7M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004476	+0.269%	$17.7M	$19.3M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004470	+0.134%	—	$12.7M	—	as long as short
Backpack PUMP_USDC_PERPshort	+0.0100%	1h	0.004461	−0.063%	$796K	$202K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004482	+0.395%	$66K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004485	+0.468%	$1.3M	$10.2M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004483	+0.426%	$150K	$746K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004466	+0.045%	$107K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004459	−0.112%	$42K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004459	−0.118%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004463	−0.022%	$2K	$744K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004460	−0.090%	$280	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004461	−0.067%	$21K	$95K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004461	−0.067%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0102%	8h	0.004474	+0.219%	$43K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004458	−0.134%	$66K	$10K	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0271% / S −0.0198%	1h	0.004458	−0.134%	$54K	—	100x	as long as short
Extended PUMP-USD	+0.0272%	1h	0.004476	+0.260%	$3.9M	$3.9M	50x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004465	+0.022%	$3.7M	$4.5M	75x	as long as short
Phoenix PUMP	+0.0342%	1h	0.004476	+0.258%	$46K	$119K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004462	−0.051%	$2	—	3x	as long as short
01 Exchange PUMPUSD	+0.0344%	1h	0.004467	+0.067%	$6K	$600	10x	as long as short
Injective PUMP/USDC PERP	+0.0419%	1h	0.004472	+0.179%	$39K	$204K	12x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0472%	1h	0.004465	+0.022%	$718K	$5.7M	50x	as long as short
Hyperliquid PUMP	+0.0516%	1h	0.004483	+0.426%	$168.0M	$49.9M	10x	as long as short
RISEx PUMP/USDC	+0.0638%	1h	0.004467	+0.067%	$531K	$1.0M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0657%	1h	0.004462	−0.037%	$1.0M	$3.3M	50x	as long as short
Aftermath Perps PUMPUSD	+0.1037%	1h	0.004472	+0.170%	$518	$107K	10x	as long as short