Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0321%/8h= +35.2% APRpaid last 24h +0.077%

Price spread now: Phoenix against Perpl+0.310%7-day average +0.093% · you sell dearer than you buy

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

Long on Perpl Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.292%+$29 on $10k

Price spread, last 4 days (all we have)−0.351%−$35 · spread now +0.310%, 7d avg +0.093%

Together, before fees−0.059%+ Points / potential airdropPerpl: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Phoenix is 0.216% dearer against Perpl than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl PUMP	0.004388	0	get 0.0000% / 43m	25m 38s	$18K	$234K	20x
Short	Phoenix PUMP	0.004402	0.0321	get 0.0040% / 1h	54m 38s	$43K	$120K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Perpl. 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 PerplbpFee PhoenixbpOrdersPrice spread, now +0.310%Rate

Funding earned: $67.45
Price spread: +0.310% → +0.093%: $21.65
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $68.29
Costs to cover: 0.208%
Break-even: from the start

Slippage unknown: Perpl: no order-book sample; Phoenix: live order book, 53 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 Phoenix live order book, 53 min ago	2.00 bp	16.2 bp −$16	50.3 bp −$503	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
Backpack PUMP_USDC_PERP	−0.0596%	1h	0.004380	−0.180%	$776K	$197K	5x	as long as short
dYdX PUMP-USD	0.0000%	1h	0.004375	−0.293%	$20K	$9K	5x	as long as short
Perpl PUMPlong	0.0000%	43m	0.004388	long leg	$18K	$234K	20x
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004386	−0.046%	$70K	$124K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004391	+0.069%	$53K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004376	−0.273%	$2.8M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−2.005%	$28K	$820K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004374	−0.319%	$688K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004378	−0.228%	$486K	$817K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004381	−0.158%	$79.5M	$172.6M	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	0.004382	−0.137%	$23.9M	$97.0M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004378	−0.232%	$36K	$186K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004381	−0.160%	$64K	$99K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004375	−0.296%	$4.8M	$11.1M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004378	−0.228%	$23.3M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004378	−0.228%	$17.5M	$20.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004378	−0.228%	—	$12.9M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004389	+0.030%	$64K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004401	+0.289%	$1.2M	$10.5M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004390	+0.046%	$146K	$751K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004398	+0.228%	$97K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004386	−0.046%	$41K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004386	−0.043%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004390	+0.046%	$2K	$761K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004388	0.000%	$275	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004394	+0.137%	$21K	$117K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004385	−0.068%	$2.0M	$4.0M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004380	−0.177%	$42K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004383	−0.114%	$70K	$11K	3x	as long as short
Nado PUMP-PERP	+0.0150%	1h	0.004381	−0.148%	$1.6M	$2.1M	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0191% / S −0.0050%	1h	0.004389	+0.023%	$59K	—	100x	as long as short
Extended PUMP-USD	+0.0208%	1h	0.004379	−0.195%	$3.8M	$4.3M	50x	as long as short
01 Exchange PUMPUSD	+0.0256%	1h	0.004382	−0.137%	$6K	$727	10x	as long as short
Phoenix PUMPshort	+0.0321%	1h	0.004402	+0.310%	$43K	$120K	10x
BloFin PUMP-USDT	+0.0340%	4h	0.004394	+0.137%	$3.6M	$4.4M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004396	+0.177%	$2	—	3x	as long as short
Hyperliquid PUMP	+0.0365%	1h	0.004380	−0.182%	$163.6M	$56.0M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0440%	1h	0.004391	+0.068%	$693K	$5.8M	50x	as long as short
RISEx PUMP/USDC	+0.0570%	1h	0.004382	−0.127%	$521K	$1.0M	10x	as long as short
Injective PUMP/USDC PERP	+0.0706%	1h	0.004404	+0.365%	$38K	$204K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0807%	1h	0.004390	+0.039%	$1.1M	$3.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0878%	1h	0.004403	+0.350%	$582	$115K	10x	as long as short