Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0135%/8h= +14.8% APRpaid last 24h +0.048%

Price spread now: Phoenix against OKX−0.118%86s7-day average +0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as 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−$540.542% of the position

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+2.427%+$243 · spread now −0.118%, 7d avg +0.139%

Together, before fees+2.559%+$256 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.258% cheaper against OKX than usual: you would sell low and buy high (spread −0.118% now, against its 7-day average of +0.139%). If the spread goes back, that is −$26 on $10k: about 6.4 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.133% in total) that is about 14 days. The two prices were read 86 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PUMP-USDT-SWAP	0.004484	0.0100	pay 0.0050% / 4h	2h 32m	$24.1M	$98.1M	50x
Short	Phoenix PUMP	0.004479	0.0235	get 0.0029% / 1h	32m 00s	$42K	$103K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now −0.118%Rate

Funding earned: $28.3
Price spread: −0.118% → +0.139%: −$25.75
Slippage, 4 orders: −$37.19
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$51.64
Costs to cover: 0.542%
Break-even: 19.8 days

Slippage from OKX: live order book, 2 min ago; Phoenix: live order book, 21 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 OKX live order book, 2 min ago	1.12 bp	10.2 bp −$10	27.5 bp −$275	165.0 bp −$16.5K	doesn't fit
Sell Phoenix live order book, 21 min ago	2.04 bp	16.1 bp −$16	50.4 bp −$504	doesn't fit	doesn't fit

PUMP on 41 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	−0.0877%	1h	0.004475	−0.194%	$20K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004474	−0.223%	$18K	$203K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004487	+0.067%	$71K	$124K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004486	+0.043%	$53K	—	150x	as long as short
Orderly PERP_PUMP_USDC	+0.0067%	4h	0.004486	+0.045%	$42K	$10K	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004486	+0.045%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−1.873%	$27K	$768K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004477	−0.145%	$1.7M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004486	+0.045%	$725K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004478	−0.134%	$500K	$653K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PUMPUSDT	+0.0100%	4h	0.004484	+0.006%	$80.8M	$165.9M	75x	as long as short
OKX PUMP-USDT-SWAPlong	+0.0100%	4h	0.004484	long leg	$24.1M	$98.1M	50x
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004480	−0.080%	$21K	$170K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004474	−0.223%	$40K	$63K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004486	+0.045%	$4.9M	$10.5M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004488	+0.089%	$23.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004480	−0.089%	$17.8M	$19.5M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004485	+0.022%	—	$12.8M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004485	+0.029%	$799K	$185K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004476	−0.185%	$65K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004483	−0.022%	$1.3M	$10.5M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004476	−0.178%	$139K	$755K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004479	−0.112%	$103K	$2.0M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004486	+0.055%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004486	+0.045%	$2K	$737K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004486	+0.045%	$281	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004479	−0.112%	$21K	$118K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004483	−0.022%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0102%	8h	0.004482	−0.053%	$43K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004479	−0.105%	$3.8M	$4.1M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004481	−0.067%	$71K	$8K	3x	as long as short
Phoenix PUMPshort	+0.0235%	1h	0.004479	−0.118%	$42K	$103K	10x
01 Exchange PUMPUSD	+0.0240%	1h	0.004479	−0.112%	$6K	$727	10x	as long as short
RISEx PUMP/USDC	+0.0322%	1h	0.004477	−0.146%	$489K	$990K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004475	−0.194%	$2	—	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0359% / S −0.0289%	1h	0.004487	+0.067%	$72K	—	100x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0408%	1h	0.004491	+0.156%	$726K	$5.7M	50x	as long as short
Hyperliquid PUMP	+0.0565%	1h	0.004492	+0.178%	$167.7M	$54.3M	10x	as long as short
Injective PUMP/USDC PERP	+0.0571%	1h	0.004469	−0.335%	$39K	$203K	12x	as long as short
Aftermath Perps PUMPUSD	+0.0722%	1h	0.004453	−0.688%	$390	$113K	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.1239%	1h	0.004491	+0.163%	$1.3M	$3.1M	50x	as long as short