PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0103%/8h= −11.3% APRnext payment −$0.13 per $10,000 · paid last 24h −0.038%

Price spread now: Lighter against Phoenix−0.192%74s7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as 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−$410.413% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 3 days (all we have)−0.900%−$90 · spread now −0.192%, 7d avg −0.060%

Together, before fees−0.910%+ Points / potential airdropLighter: Season 3 · farm board−$91 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Lighter is 0.132% cheaper against Phoenix than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.060%). Swap the legs. The two prices were read 74 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	0.004323	0.0167	pay 0.0021% / 1h	57m 59s	$39K	$99K	10x
Short	Lighter PUMP	0.004315	0.0064	get 0.0008% / 1h	57m 59s	$2.9M	$5.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.192%Rate

Funding earned: −$21.66
Price spread: −0.192% → −0.060%: −$13.22
Slippage, 4 orders: −$34.35
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$76.23
Costs to cover: 0.413%
Break-even: never at this rate

Slippage from Phoenix: live order book, 23 min ago; Lighter: live order book, 5 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, 23 min ago	2.09 bp	16.2 bp −$16	58.2 bp −$582	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	2.31 bp	4.5 bp −$4	8.1 bp −$81	70.1 bp −$7,010	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	−0.5790%	1h	0.004322	−0.029%	$20K	$8K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0040%	4h	0.004314	−0.215%	$22.6M	$95.3M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0013%	4h	0.004314	−0.215%	$41K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004320	−0.076%	$20K	$201K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004317	−0.146%	$70K	$125K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004318	−0.121%	$55K	—	150x	as long as short
Lighter PUMPshort	+0.0064%	1h	0.004315	−0.192%	$2.9M	$5.5M	10x
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.539%	$29K	$775K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004322	−0.031%	$42K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004316	−0.157%	$1.6M	$2.0M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PUMP	+0.0100%	1h	0.004320	−0.076%	$158.1M	$52.3M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004318	−0.130%	$784K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004322	−0.030%	$449K	$614K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004316	−0.169%	$76.6M	$165.7M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004317	−0.157%	$20K	$178K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004321	−0.053%	$42K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004313	−0.238%	$4.6M	$11.6M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004317	−0.146%	$22.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004313	−0.238%	$17.1M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004317	−0.146%	—	$12.9M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004313	−0.229%	$770K	$186K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004320	−0.077%	$63K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004320	−0.076%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004322	−0.030%	$136K	$766K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004321	−0.053%	$110K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004316	−0.173%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004317	−0.146%	$2K	$711K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004314	−0.215%	$711	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004317	−0.146%	$21K	$146K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004317	−0.146%	$2.0M	$4.1M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004313	−0.238%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004314	−0.215%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004322	−0.030%	$492K	$1.0M	10x	as long as short
01 Exchange PUMPUSD	+0.0144%	1h	0.004321	−0.053%	$6K	$497	10x	as long as short
Phoenix PUMPlong	+0.0167%	1h	0.004323	long leg	$39K	$99K	10x
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004326	+0.062%	$657K	$5.5M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0222%	1h	0.004318	−0.123%	$67K	—	100x	as long as short
Aftermath Perps PUMPUSD	+0.0336%	1h	0.004320	−0.083%	$200	$105K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004324	+0.016%	$3.5M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004317	−0.156%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004334	+0.247%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0687%	1h	0.004319	−0.092%	$1.3M	$3.5M	50x	as long as short