Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0221%/8h= −24.2% APRpaid last 24h −0.031%

Price spread now: HTX against Phoenix−0.378%72s7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$174as 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−$1671.668% of the position

Long on Phoenix Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 4 days (all we have)+0.389%+$39 · spread now −0.378%, 7d avg −0.121%

Together, before fees+0.313%+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and HTX is 0.257% cheaper against Phoenix than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.121%). Swap the legs. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.076% in total (about -4.0% 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	Phoenix PUMP	0.004500	0.0321	pay 0.0040% / 1h	41m 30s	$43K	$103K	10x
Short	HTX PUMP-USDT	0.004483	0.0100	get 0.0050% / 4h	1h 41m	$21K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.378%Rate

Funding earned: −$46.45
Price spread: −0.378% → −0.121%: −$25.71
Slippage, 4 orders: −$147.77
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$238.93
Costs to cover: 1.668%
Break-even: never at this rate

Slippage from Phoenix: live order book, 6 min ago; HTX: live order book, 20 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, 6 min ago	2.00 bp	16.2 bp −$16	58.0 bp −$580	doesn't fit	doesn't fit
Sell HTX live order book, 20 min ago	22.29 bp	62.4 bp −$62	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	0.0000%	1h	0.004477	−0.507%	$20K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004494	−0.133%	$19K	$223K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004496	−0.089%	$71K	$124K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004497	−0.067%	$53K	—	150x	as long as short
Orderly PERP_PUMP_USDC	+0.0093%	4h	0.004496	−0.089%	$42K	$10K	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004473	−0.600%	$2.9M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−2.222%	$27K	$780K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004481	−0.427%	$1.7M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004473	−0.596%	$704K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004473	−0.600%	$519K	$725K	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	0.004476	−0.526%	$81.8M	$169.4M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004476	−0.533%	$24.4M	$98.9M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004493	−0.162%	$32K	$186K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004474	−0.578%	$41K	$66K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004470	−0.667%	$5.0M	$11.2M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004475	−0.556%	$23.8M	$14.0M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004474	−0.578%	$17.7M	$19.9M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004473	−0.600%	—	$12.9M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004483	−0.378%	$797K	$188K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004493	−0.154%	$66K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004493	−0.147%	$1.2M	$10.5M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004494	−0.133%	$150K	$751K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004501	+0.022%	$106K	$2.1M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004497	−0.063%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004495	−0.111%	$2K	$749K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004497	−0.067%	$282	$7K	10x	as long as short
HTX PUMP-USDTshort	+0.0100%	4h	0.004483	−0.378%	$21K	$116K	20x
Phemex PUMPUSDT	+0.0100%	4h	0.004494	−0.133%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004474	−0.586%	$43K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004492	−0.178%	$72K	$8K	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0231% / S −0.0083%	1h	0.004497	−0.067%	$61K	—	100x	as long as short
Extended PUMP-USD	+0.0288%	1h	0.004474	−0.581%	$3.8M	$4.2M	50x	as long as short
01 Exchange PUMPUSD	+0.0296%	1h	0.004479	−0.467%	$6K	$727	10x	as long as short
Phoenix PUMPlong	+0.0321%	1h	0.004500	long leg	$43K	$103K	10x
BloFin PUMP-USDT	+0.0340%	4h	0.004492	−0.178%	$3.7M	$4.6M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004497	−0.072%	$2	—	3x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0448%	1h	0.004500	0.000%	$701K	$6.0M	50x	as long as short
RISEx PUMP/USDC	+0.0544%	1h	0.004477	−0.509%	$532K	$985K	10x	as long as short
Hyperliquid PUMP	+0.0611%	1h	0.004479	−0.467%	$167.5M	$56.0M	10x	as long as short
Aftermath Perps PUMPUSD	+0.0866%	1h	0.004501	+0.025%	$594	$114K	10x	as long as short
Injective PUMP/USDC PERP	+0.0880%	1h	0.004503	+0.067%	$39K	$204K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.1328%	1h	0.004504	+0.080%	$1.4M	$3.0M	50x	as long as short