PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0356%/8h= −39.0% APRnext payment −$0.45 per $10,000 · paid last 24h −0.052%

Price spread now: Deribit against Phoenix−0.491%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$570.571% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.361%−$36 on $10k

Price spread, last 4 days (all we have)+0.581%+$58 · spread now −0.491%, 7d avg −0.075%

Together, before fees+0.220%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Deribit is 0.417% cheaper against Phoenix than usual: you would sell low and buy high (−$42 if the spread goes back to its 7-day average of −0.075%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PUMP	0.004478	0.0356	pay 0.0045% / 1h	40m 34s	$46K	$119K	10x
Short	Deribit PUMP_USDC-PERPETUAL	0.004456	0	get 0.0000% / 1h	40m 34s	$69K	$115K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.491%Rate

Funding earned: −$74.76
Price spread: −0.491% → −0.075%: −$41.66
Slippage, 4 orders: −$43.14
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$173.57
Costs to cover: 0.571%
Break-even: never at this rate

Slippage from Phoenix: live order book, 57 min ago; Deribit: 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, 57 min ago	2.03 bp	16.1 bp −$16	58.0 bp −$580	doesn't fit	doesn't fit
Sell Deribit live order book, 3 min ago	7.82 bp	13.5 bp −$14	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	−0.0021%	1h	0.004431	−1.043%	$20K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004458	−0.447%	$18K	$237K	20x	as long as short
Deribit PUMP_USDC-PERPETUALshort	0.0000%	1h	0.004456	−0.491%	$69K	$115K	25x
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004456	−0.484%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0050%	4h	0.004431	−1.050%	$4.9M	$10.3M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004434	−0.983%	$2.9M	$4.6M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−1.742%	$28K	$618K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004429	−1.094%	$1.6M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004434	−0.980%	$706K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004433	−1.005%	$531K	$761K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PUMPUSDT	+0.0100%	4h	0.004436	−0.944%	$80.9M	$164.3M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004426	−1.161%	$24.4M	$93.4M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004458	−0.438%	$32K	$161K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004437	−0.916%	$64K	$101K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004433	−1.005%	$23.7M	$13.6M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004432	−1.027%	$17.6M	$18.6M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004432	−1.027%	—	$13.7M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004445	−0.730%	$797K	$201K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004475	−0.061%	$66K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004489	+0.246%	$1.3M	$10.1M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004472	−0.134%	$151K	$746K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004464	−0.313%	$110K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004454	−0.536%	$42K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004455	−0.521%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004455	−0.514%	$2K	$736K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004456	−0.491%	$280	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004463	−0.335%	$21K	$93K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004448	−0.670%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0103%	8h	0.004435	−0.965%	$42K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004432	−1.020%	$3.8M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004455	−0.514%	$66K	$10K	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0271% / S −0.0200%	1h	0.004456	−0.491%	$54K	—	100x	as long as short
01 Exchange PUMPUSD	+0.0320%	1h	0.004439	−0.871%	$6K	$600	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004448	−0.670%	$3.7M	$4.4M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004459	−0.428%	$2	—	3x	as long as short
Phoenix PUMPlong	+0.0356%	1h	0.004478	long leg	$46K	$119K	10x
Coinbase International PUMP-PERP-INTX	+0.0480%	1h	0.004453	−0.558%	$706K	$5.4M	50x	as long as short
Hyperliquid PUMP	+0.0529%	1h	0.004445	−0.737%	$166.4M	$48.6M	10x	as long as short
Injective PUMP/USDC PERP	+0.0571%	1h	0.004483	+0.112%	$39K	$204K	12x	as long as short
RISEx PUMP/USDC	+0.0682%	1h	0.004438	−0.882%	$527K	$1.0M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0821%	1h	0.004457	−0.475%	$1.0M	$3.2M	50x	as long as short
Aftermath Perps PUMPUSD	+0.1091%	1h	0.004483	+0.103%	$519	$102K	10x	as long as short