Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:36 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.045%

Price spread now: Phemex against Perpl−0.093%48s7-day average +0.012% · you buy dearer than you sell

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

Long on Perpl Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.206%+$21 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.093%, 7d avg +0.012%

Together, before fees+0.231%+ Points / potential airdropPerpl: Active · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.104% cheaper against Perpl than usual: you would sell low and buy high (spread −0.093% now, against its 7-day average of +0.012%). If the spread goes back, that is −$10 on $10k: about 3.5 days of funding at the current rate (+$3 a day). The two prices were read 48 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	0.004321	0	get 0.0000% / 43m	42m 21s	$20K	$201K	20x
Short	Phemex PUMPUSDT	0.004317	0.0100	get 0.0050% / 4h	2h 55m	$2.0M	$4.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.093%Rate

Funding earned: $21
Price spread: −0.093% → +0.012%: −$10.45
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$15.25
Costs to cover: 0.258%
Break-even: 12.1 days

Slippage unknown: Perpl: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago	4.63 bp	34.1 bp −$34	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
dYdX PUMP-USD	−0.5377%	1h	0.004320	−0.024%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0047%	1h	0.004313	−0.190%	$770K	$184K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0046%	4h	0.004324	+0.069%	$22.6M	$95.0M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0013%	4h	0.004326	+0.116%	$41K	$10K	10x	as long as short
Perpl PUMPlong	0.0000%	43m	0.004321	long leg	$20K	$201K	20x
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004315	−0.139%	$70K	$125K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004326	+0.105%	$55K	—	150x	as long as short
01 Exchange PUMPUSD	+0.0048%	1h	0.004317	−0.093%	$6K	$497	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004316	−0.116%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.486%	$29K	$776K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004316	−0.122%	$41K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004320	−0.012%	$1.6M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004318	−0.069%	$784K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004316	−0.116%	$449K	$614K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004324	+0.069%	$76.7M	$164.9M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004312	−0.204%	$20K	$178K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004320	−0.023%	$42K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004322	+0.023%	$4.6M	$11.6M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004326	+0.116%	$22.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004322	+0.023%	$17.2M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004323	+0.046%	—	$12.9M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004316	−0.116%	$63K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004317	−0.084%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004318	−0.069%	$136K	$767K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004326	+0.116%	$110K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004314	−0.152%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004320	−0.023%	$2K	$710K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004314	−0.162%	$711	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004318	−0.069%	$21K	$146K	20x	as long as short
Phemex PUMPUSDTshort	+0.0100%	4h	0.004317	−0.093%	$2.0M	$4.1M	20x
Extended PUMP-USD	+0.0104%	1h	0.004318	−0.070%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004326	+0.116%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004322	+0.016%	$492K	$1.0M	10x	as long as short
Hyperliquid PUMP	+0.0138%	1h	0.004329	+0.185%	$158.5M	$52.3M	10x	as long as short
Phoenix PUMP	+0.0167%	1h	0.004322	+0.035%	$39K	$99K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004326	+0.116%	$657K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0305% / S −0.0221%	1h	0.004325	+0.093%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004314	−0.162%	$3.4M	$3.7M	75x	as long as short
Aftermath Perps PUMPUSD	+0.0341%	1h	0.004319	−0.036%	$200	$105K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004324	+0.060%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004327	+0.139%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0688%	1h	0.004319	−0.045%	$1.3M	$3.5M	50x	as long as short