Funding arb · Price arb /

PUMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:22 UTC+0.0991%/8h= +108.5% APRpaid last 24h −0.230%

Price spread now: Injective against Perpl−0.691%54s7-day average −0.063% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Perpl Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.057%−$106 on $10k

Price spread, last 4 days (all we have)+0.850%+$85 · spread now −0.691%, 7d avg −0.063%

Together, before fees−0.207%+ Points / potential airdropPerpl: Active · farm board−$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.628% cheaper against Perpl than usual: you would sell low and buy high (spread −0.691% now, against its 7-day average of −0.063%). If the spread goes back, that is −$63 on $10k: about 2.1 days of funding at the current rate (+$30 a day). Mind the row above: over the last 7 days funding on this pair cost −1.057%, so the current rate has only just turned in your favour. The two prices were read 54 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	Perpl PUMP	0.004486	−0.0112	get 0.0010% / 43m	6m 28s	$18K	$230K	20x
Short	Injective PUMP/USDC PERP	0.004455	0.0880	get 0.0110% / 1h	18m 28s	$39K	$204K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Perpl. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PerplbpFee InjectivebpOrdersPrice spread, now −0.691%Rate

Funding earned: $208.15
Price spread: −0.691% → −0.063%: −$62.77
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $131.55
Costs to cover: 0.138%
Break-even: 2.6 days

Slippage unknown: Perpl: no order-book sample; Injective: live order book, 45 min ago. Net counts fees only.

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 Perpl no order-book sample	—	—	—	—	—
Sell Injective live order book, 45 min ago	17.81 bp	27.0 bp −$27	doesn't fit	doesn't fit	doesn't fit

Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PUMPlong	−0.0112%	43m	0.004486	long leg	$18K	$230K	20x
dYdX PUMP-USD	−0.0009%	1h	0.004483	−0.065%	$21K	$9K	5x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004484	−0.047%	$54K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004488	+0.045%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−1.917%	$31K	$794K	20x	as long as short
Orderly PERP_PUMP_USDC	+0.0099%	4h	0.004484	−0.045%	$42K	$10K	10x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004488	+0.033%	$1.7M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004487	+0.025%	$706K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004487	+0.022%	$491K	$783K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004488	+0.035%	$81.6M	$170.5M	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	0.004487	+0.022%	$24.4M	$98.7M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004475	−0.243%	$37K	$191K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004489	+0.067%	$51K	$76K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004485	−0.022%	$5.0M	$11.3M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004492	+0.134%	$23.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004486	0.000%	$17.7M	$19.9M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004486	0.000%	—	$12.9M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004486	+0.002%	$796K	$189K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004472	−0.314%	$65K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004469	−0.374%	$1.3M	$10.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004478	−0.178%	$149K	$751K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004490	+0.089%	$109K	$2.1M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004484	−0.045%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004487	+0.022%	$2K	$754K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004486	0.000%	$281	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004482	−0.089%	$21K	$119K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004486	0.000%	$2.0M	$4.0M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004485	−0.012%	$43K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004482	−0.089%	$71K	$11K	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0191% / S −0.0050%	1h	0.004484	−0.045%	$61K	—	100x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0196%	1h	0.004486	0.000%	$71K	$124K	25x	as long as short
Extended PUMP-USD	+0.0264%	1h	0.004487	+0.030%	$3.8M	$4.2M	50x	as long as short
01 Exchange PUMPUSD	+0.0296%	1h	0.004492	+0.134%	$6K	$727	10x	as long as short
Phoenix PUMP	+0.0321%	1h	0.004480	−0.143%	$43K	$103K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004488	+0.045%	$3.7M	$4.5M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004485	−0.029%	$2	—	3x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0448%	1h	0.004486	0.000%	$717K	$6.0M	50x	as long as short
Hyperliquid PUMP	+0.0510%	1h	0.004492	+0.134%	$168.0M	$55.8M	10x	as long as short
RISEx PUMP/USDC	+0.0544%	1h	0.004491	+0.102%	$534K	$994K	10x	as long as short
Aftermath Perps PUMPUSD	+0.0868%	1h	0.004474	−0.264%	$591	$117K	10x	as long as short
Injective PUMP/USDC PERPshort	+0.0880%	1h	0.004455	−0.691%	$39K	$204K	12x
Kraken Futures PF_PUMPUSD	+0.1333%	1h	0.004489	+0.068%	$1.1M	$3.3M	50x	as long as short