Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h −0.367%

Price spread now: Injective against Phemex+0.230%65s7-day average −0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$266as 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−$1361.362% of the position

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.299%−$130 on $10k

Price spread, last 3 days (all we have)−0.312%−$31 · spread now +0.230%, 7d avg −0.083%

Together, before fees−1.610%−$161 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 0.313% dearer against Phemex than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of −0.083%. Mind the row above: over the last 7 days funding on this pair cost −1.299%, so the current rate has only just turned in your favour. The two prices were read 65 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	Phemex PUMPUSDT	0.004357	0.0100	pay 0.0050% / 4h	29m 49s	$2.0M	$4.0M	20x
Short	Injective PUMP/USDC PERP	0.004367	0.0182	get 0.0023% / 1h	29m 49s	$38K	$207K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.230%Rate

Funding earned: $17.31
Price spread: +0.230% → −0.083%: $31.26
Slippage, 4 orders: −$124.13
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$87.58
Costs to cover: 1.362%
Break-even: 42.4 days

Slippage from Phemex: live order book, 4 min ago; Injective: live order book, 49 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, 4 min ago	5.72 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 49 min ago	12.67 bp	21.9 bp −$22	doesn't fit	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	−0.0014%	1h	0.004358	+0.034%	$20K	$9K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0003%	4h	0.004361	+0.092%	$22.8M	$96.6M	50x	as long as short
Perpl PUMP	0.0000%	43m	0.004353	−0.092%	$18K	$205K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004360	+0.069%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004358	+0.030%	$54K	—	150x	as long as short
Orderly PERP_PUMP_USDC	+0.0013%	4h	0.004358	+0.023%	$41K	$10K	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004357	0.000%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−1.308%	$26K	$769K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004354	−0.059%	$42K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004354	−0.057%	$1.6M	$2.0M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PUMPUSDT	+0.0100%	4h	0.004358	+0.022%	$727K	$2.3M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004354	−0.069%	$455K	$601K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004361	+0.083%	$77.7M	$164.0M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004358	+0.021%	$26K	$163K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004355	−0.046%	$42K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004361	+0.092%	$4.7M	$11.5M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004361	+0.092%	$23.2M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004361	+0.092%	$17.3M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004359	+0.046%	—	$12.8M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004358	+0.016%	$776K	$182K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004361	+0.093%	$64K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004359	+0.046%	$1.2M	$9.8M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004363	+0.138%	$138K	$763K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004359	+0.046%	$93K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004359	+0.038%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004358	+0.023%	$2K	$718K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004357	0.000%	$277	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004354	−0.069%	$22K	$135K	20x	as long as short
Phemex PUMPUSDTlong	+0.0100%	4h	0.004357	long leg	$2.0M	$4.0M	20x
Extended PUMP-USD	+0.0104%	1h	0.004361	+0.085%	$3.6M	$3.8M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004357	0.000%	$72K	$18K	3x	as long as short
Phoenix PUMP	+0.0164%	1h	0.004366	+0.197%	$39K	$100K	10x	as long as short
Injective PUMP/USDC PERPshort	+0.0182%	1h	0.004367	+0.230%	$38K	$207K	12x
RISEx PUMP/USDC	+0.0194%	1h	0.004357	0.000%	$484K	$1.0M	10x	as long as short
01 Exchange PUMPUSD	+0.0216%	1h	0.004358	+0.023%	$6K	$830	10x	as long as short
Hyperliquid PUMP	+0.0261%	1h	0.004362	+0.115%	$160.5M	$53.1M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0312%	1h	0.004360	+0.069%	$676K	$5.5M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0321% / S −0.0242%	1h	0.004358	+0.023%	$68K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004357	0.000%	$3.5M	$4.0M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004356	−0.023%	$2	—	3x	as long as short
Aftermath Perps PUMPUSD	+0.0439%	1h	0.004367	+0.236%	$200	$106K	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0866%	1h	0.004364	+0.159%	$1.3M	$3.5M	50x	as long as short