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 −0.037%

Price spread now: BingX against Phoenix−0.400%7-day average −0.141% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$480.481% of the position

Long on Phoenix Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 3 days (all we have)−0.816%−$82 · spread now −0.400%, 7d avg −0.141%

Together, before fees−0.888%−$89 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 BingX is 0.259% cheaper against Phoenix than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.141%). Swap the legs.

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	17m 02s	$39K	$99K	10x
Short	BingX PUMP-USDT	0.004331	0.0100	get 0.0050% / 4h	2h 17m	—	$12.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.400%Rate

Funding earned: −$6.18
Price spread: −0.400% → −0.141%: −$25.92
Slippage, 4 orders: −$31.08
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$80.18
Costs to cover: 0.481%
Break-even: never at this rate

Slippage from Phoenix: live order book, 64 min ago; BingX: live order book, 6 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, 64 min ago	2.09 bp	16.2 bp −$16	58.2 bp −$582	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	1.15 bp	9.6 bp −$10	14.9 bp −$149	39.8 bp −$3,979	130.2 bp −$65.1K

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	−0.4892%	1h	0.004335	−0.310%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0220%	1h	0.004332	−0.370%	$772K	$183K	5x	as long as short
Perpl PUMP	−0.0112%	43m	0.004333	−0.354%	$20K	$206K	20x	as long as short
OKX PUMP-USDT-SWAP	−0.0067%	4h	0.004330	−0.423%	$22.6M	$96.0M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0024%	4h	0.004334	−0.331%	$41K	$10K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004335	−0.308%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004334	−0.327%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0080%	4h	0.004332	−0.377%	$4.6M	$11.7M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004333	−0.354%	$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	$767K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004335	−0.305%	$42K	—	5x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004338	−0.239%	$159.1M	$52.4M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004332	−0.377%	$785K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004336	−0.285%	$449K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004330	−0.415%	$76.9M	$164.2M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004331	−0.391%	$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	0.004336	−0.285%	$22.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004332	−0.377%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDTshort	+0.0100%	4h	0.004331	−0.400%	—	$12.7M	—
edgeX PUMPUSDC	+0.0100%	4h	0.004335	−0.319%	$63K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004335	−0.307%	$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	0.004333	−0.343%	$1.6M	$2.0M	10x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004337	−0.262%	$91K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004334	−0.330%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004335	−0.308%	$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	0.004331	−0.400%	$21K	$147K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004332	−0.377%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004332	−0.377%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004331	−0.400%	$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 −0.0225%	1h	0.004334	−0.331%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004332	−0.377%	$3.4M	$3.7M	75x	as long as short
Aftermath Perps PUMPUSD	+0.0343%	1h	0.004337	−0.273%	$180	$106K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004332	−0.370%	$2	—	3x	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	−0.215%	$1.3M	$3.5M	50x	as long as short