Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0587%/8h= +64.2% APRpaid last 24h +0.269%

Price spread now: Kraken Futures against Phemex+0.137%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$800.796% of the position

Long on Phemex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 3 days (all we have)−0.096%−$10 · spread now +0.137%, 7d avg +0.056%

Together, before fees+0.092%+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Kraken Futures is 0.082% dearer against Phemex than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.056%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.188% in total (about 9.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PUMPUSDT	0.004319	0.0100	pay 0.0050% / 4h	2h 01m	$2.0M	$4.0M	20x
Short	Kraken Futures PF_PUMPUSD	0.004325	0.0687	get 0.0086% / 1h	1m 53s	$1.3M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.137%Rate

Funding earned: $123.18
Price spread: +0.137% → +0.056%: $8.16
Slippage, 4 orders: −$57.61
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $51.73
Costs to cover: 0.796%
Break-even: 4.1 days

Slippage from Phemex: live order book, 2 min ago; Kraken Futures: live order book, 2 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, 2 min ago	2.32 bp	22.8 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	3.47 bp	11.1 bp −$11	26.9 bp −$269	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	−0.5062%	1h	0.004322	+0.064%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0215%	1h	0.004317	−0.051%	$769K	$183K	5x	as long as short
Perpl PUMP	−0.0112%	43m	0.004317	−0.046%	$20K	$206K	20x	as long as short
OKX PUMP-USDT-SWAP	−0.0056%	4h	0.004316	−0.069%	$22.5M	$95.5M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0025%	4h	0.004320	+0.023%	$41K	$10K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004322	+0.069%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004320	+0.030%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0068%	4h	0.004316	−0.069%	$4.6M	$11.7M	75x	as long as short
01 Exchange PUMPUSD	+0.0080%	1h	0.004321	+0.046%	$6K	$497	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004319	0.000%	$2.9M	$5.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.440%	$29K	$767K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004320	+0.028%	$42K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004320	+0.035%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004320	+0.023%	$158.1M	$52.5M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004316	−0.058%	$778K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004321	+0.046%	$448K	$607K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004316	−0.069%	$76.6M	$163.9M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004308	−0.257%	$25K	$178K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004320	+0.023%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004319	0.000%	$22.7M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004315	−0.093%	$17.0M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004317	−0.046%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004309	−0.235%	$63K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004309	−0.240%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004313	−0.139%	$136K	$771K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004323	+0.093%	$91K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004321	+0.044%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004321	+0.046%	$2K	$710K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004319	0.000%	$712	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004310	−0.208%	$21K	$147K	20x	as long as short
Phemex PUMPUSDTlong	+0.0100%	4h	0.004319	long leg	$2.0M	$4.0M	20x
Extended PUMP-USD	+0.0104%	1h	0.004316	−0.067%	$3.5M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004320	+0.023%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004322	+0.069%	$490K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004314	−0.118%	$39K	$99K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004312	−0.162%	$654K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0308% / S −0.0226%	1h	0.004320	+0.023%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004316	−0.069%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004319	+0.006%	$2	—	3x	as long as short
Aftermath Perps PUMPUSD	+0.0347%	1h	0.004319	+0.012%	$180	$106K	10x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	+0.116%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSDshort	+0.0687%	1h	0.004325	+0.137%	$1.3M	$3.5M	50x