Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h −0.027%

Price spread now: Deribit against Phemex+0.117%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$920.920% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 3 days (all we have)−0.071%−$7 · spread now +0.117%, 7d avg +0.021%

Together, before fees−0.348%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.096% dearer against Phemex than usual: you sell high and buy low (spread +0.117% now, against its 7-day average of +0.021%): +$10 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 7 days (−0.277% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PUMPUSDT	0.004287	0.0100	pay 0.0050% / 4h	2h 47m	$2.0M	$4.0M	20x
Short	Deribit PUMP_USDC-PERPETUAL	0.004292	−0.0216	pay 0.0027% / 1h	47m 27s	$68K	$126K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Phemex. 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 PhemexbpFee DeribitbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$66.36
Price spread: +0.117% → +0.021%: $9.59
Slippage, 4 orders: −$73
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$148.77
Costs to cover: 0.920%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; Deribit: live order book, 41 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 Phemex live order book, 1 min ago	3.49 bp	27.0 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 41 min ago	9.27 bp	15.0 bp −$15	24.7 bp −$247	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	−0.3384%	1h	0.004299	+0.279%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0509%	1h	0.004291	+0.096%	$768K	$184K	5x	as long as short
Deribit PUMP_USDC-PERPETUALshort	−0.0216%	1h	0.004292	+0.117%	$68K	$126K	25x
OKX PUMP-USDT-SWAP	−0.0069%	4h	0.004294	+0.163%	$22.5M	$94.2M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0016%	4h	0.004290	+0.070%	$40K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004293	+0.140%	$19K	$204K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004296	+0.219%	$54K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004295	+0.187%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004200	−2.029%	$28K	$775K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004296	+0.218%	$41K	—	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PUMP-PERP	+0.0100%	1h	0.004295	+0.198%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004300	+0.303%	$157.2M	$52.4M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004293	+0.139%	$780K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004296	+0.210%	$446K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004296	+0.201%	$76.2M	$164.8M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004306	+0.436%	$20K	$183K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004296	+0.210%	$42K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004295	+0.187%	$4.6M	$11.6M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004297	+0.233%	$22.7M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004296	+0.210%	$16.9M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004294	+0.163%	—	$12.8M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004305	+0.411%	$63K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004305	+0.411%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004301	+0.327%	$136K	$767K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004300	+0.303%	$107K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004291	+0.099%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004301	+0.327%	$1K	$709K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004289	+0.047%	$707	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004287	0.000%	$21K	$146K	20x	as long as short
Phemex PUMPUSDTlong	+0.0100%	4h	0.004287	long leg	$2.0M	$4.0M	20x
Extended PUMP-USD	+0.0104%	1h	0.004295	+0.190%	$3.5M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004290	+0.070%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004299	+0.268%	$489K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004308	+0.492%	$39K	$99K	10x	as long as short
01 Exchange PUMPUSD	+0.0144%	1h	0.004298	+0.257%	$6K	$497	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004293	+0.140%	$651K	$5.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0296%	1h	0.004306	+0.448%	$179	$107K	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0221%	1h	0.004295	+0.187%	$66K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004301	+0.327%	$3.4M	$3.6M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004296	+0.201%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	+0.863%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0692%	1h	0.004294	+0.160%	$1.3M	$3.5M	50x	as long as short