Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0173%/8h= +18.9% APRpaid last 24h +0.030%

Price spread now: BloFin against Phoenix−0.197%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on Phoenix Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.332%+$33 on $10k

Price spread, last 3 days (all we have)−0.065%−$6 · spread now −0.197%, 7d avg −0.075%

Together, before fees+0.267%+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.122% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.197% now, against its 7-day average of −0.075%). If the spread goes back, that is −$12 on $10k: about 2.4 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PUMP	0.004322	0.0167	pay 0.0021% / 1h	55m 42s	$39K	$99K	10x
Short	BloFin PUMP-USDT	0.004314	0.0340	get 0.0170% / 4h	2h 55m	$3.4M	$3.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.197%Rate

Funding earned: $36.3
Price spread: −0.197% → −0.075%: −$12.2
Slippage, 4 orders: −$35.8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$30.7
Costs to cover: 0.548%
Break-even: 12.9 days

Slippage from Phoenix: live order book, 25 min ago; BloFin: live order book, 3 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, 25 min ago	2.09 bp	16.2 bp −$16	58.2 bp −$582	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	4.64 bp	10.6 bp −$11	13.6 bp −$136	35.1 bp −$3,513	113.6 bp −$56.8K

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	−0.5377%	1h	0.004320	−0.059%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0047%	1h	0.004313	−0.224%	$770K	$184K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0046%	4h	0.004316	−0.150%	$22.6M	$94.8M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0013%	4h	0.004313	−0.220%	$41K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004314	−0.197%	$20K	$201K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004315	−0.174%	$70K	$125K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004315	−0.173%	$55K	—	150x	as long as short
01 Exchange PUMPUSD	+0.0072%	1h	0.004314	−0.197%	$6K	$497	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004316	−0.150%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.521%	$29K	$775K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004315	−0.181%	$41K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004313	−0.208%	$1.6M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004317	−0.128%	$784K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004319	−0.081%	$449K	$614K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004316	−0.150%	$76.6M	$165.3M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004312	−0.238%	$20K	$178K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004315	−0.174%	$42K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004314	−0.197%	$4.6M	$11.6M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004317	−0.127%	$22.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004313	−0.220%	$17.1M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004313	−0.220%	—	$12.9M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004323	+0.003%	$63K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004324	+0.035%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004327	+0.104%	$137K	$766K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004315	−0.174%	$110K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004314	−0.186%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004320	−0.058%	$2K	$710K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004314	−0.197%	$711	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004318	−0.104%	$21K	$146K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004317	−0.127%	$2.0M	$4.1M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004313	−0.220%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004312	−0.243%	$71K	$18K	3x	as long as short
Hyperliquid PUMP	+0.0105%	1h	0.004320	−0.058%	$158.1M	$52.3M	10x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004315	−0.163%	$492K	$1.0M	10x	as long as short
Phoenix PUMPlong	+0.0167%	1h	0.004322	long leg	$39K	$99K	10x
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004326	+0.081%	$657K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0221%	1h	0.004313	−0.220%	$67K	—	100x	as long as short
BloFin PUMP-USDTshort	+0.0340%	4h	0.004314	−0.197%	$3.4M	$3.7M	75x
Aftermath Perps PUMPUSD	+0.0340%	1h	0.004319	−0.083%	$200	$105K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004312	−0.253%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004327	+0.104%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0688%	1h	0.004319	−0.080%	$1.3M	$3.5M	50x	as long as short