Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.057%

Price spread now: Aster against Phoenix−0.325%115s7-day average −0.135% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as 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−$580.576% of the position

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 3 days (all we have)−0.890%−$89 · spread now −0.325%, 7d avg −0.135%

Together, before fees−0.995%+ Points / potential airdropAster: Stage 5 · farm board−$100 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.190% cheaper against Phoenix than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.135%). Swap the legs. The two prices were read 115 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	Phoenix PUMP	0.004348	0.0129	pay 0.0016% / 1h	19m 33s	$39K	$99K	10x
Short	Aster PUMPUSDT	0.004334	0.0100	get 0.0050% / 4h	2h 19m	$785K	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now −0.325%Rate

Funding earned: −$6.18
Price spread: −0.325% → −0.135%: −$19
Slippage, 4 orders: −$42.58
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$82.76
Costs to cover: 0.576%
Break-even: never at this rate

Slippage from Phoenix: live order book, 61 min ago; Aster: live order book, 4 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 Phoenix live order book, 61 min ago	2.09 bp	16.2 bp −$16	58.2 bp −$582	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	3.45 bp	14.2 bp −$14	22.5 bp −$225	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	−0.4705%	1h	0.004340	−0.199%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0237%	1h	0.004336	−0.287%	$773K	$183K	5x	as long as short
Deribit PUMP_USDC-PERPETUAL	−0.0211%	1h	0.004336	−0.285%	$69K	$126K	25x	as long as short
Perpl PUMP	−0.0112%	43m	0.004336	−0.285%	$20K	$206K	20x	as long as short
OKX PUMP-USDT-SWAP	−0.0070%	4h	0.004337	−0.262%	$22.7M	$96.2M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0022%	4h	0.004335	−0.308%	$41K	$10K	10x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004337	−0.262%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0078%	4h	0.004337	−0.262%	$4.6M	$11.7M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004336	−0.285%	$2.9M	$5.5M	10x	as long as short
01 Exchange PUMPUSD	+0.0096%	1h	0.004336	−0.285%	$6K	$497	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	−1.113%	$29K	$766K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004336	−0.288%	$42K	—	5x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004343	−0.124%	$159.3M	$52.4M	10x	as long as short
Aster PUMPUSDTshort	+0.0100%	4h	0.004334	−0.325%	$785K	$2.0M	50x
Pacifica PUMP	+0.0100%	1h	0.004338	−0.239%	$450K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004335	−0.308%	$77.0M	$164.2M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004345	−0.090%	$26K	$179K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004335	−0.308%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004339	−0.216%	$22.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004335	−0.308%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004336	−0.285%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004341	−0.181%	$64K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004352	+0.078%	$1.2M	$9.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004342	−0.147%	$137K	$769K	50x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004335	−0.297%	$1.6M	$2.0M	10x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004339	−0.216%	$91K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004336	−0.291%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004339	−0.216%	$1K	$710K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004332	−0.377%	$714	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004337	−0.262%	$21K	$147K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004335	−0.308%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004335	−0.306%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004332	−0.377%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004337	−0.262%	$492K	$1.0M	10x	as long as short
Phoenix PUMPlong	+0.0129%	1h	0.004348	long leg	$39K	$99K	10x
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004343	−0.124%	$659K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0307% / S −0.0224%	1h	0.004336	−0.285%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004338	−0.239%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004336	−0.279%	$2	—	3x	as long as short
Aftermath Perps PUMPUSD	+0.0348%	1h	0.004338	−0.246%	$180	$106K	10x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	−0.561%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0684%	1h	0.004339	−0.227%	$1.3M	$3.5M	50x	as long as short